London, August 1, 2024 – Tuum, a leading next-generation core banking platform, is proud to announce its partnership with ComplyAdvantage, a leader in financial crime intelligence. This strategic partnership leverages Tuum’s API-first approach to integrate best-of-breed complementary solutions, ensuring that financial institutions can meet their unique needs effectively and efficiently with a modern solution, providing advanced tools to detect and prevent financial crimes seamlessly.
Delivering Modern, Best-of-Breed Solutions
Tuum’s API-first and cloud-native architecture enables seamless integration with top-tier technology solutions. While this partnership with ComplyAdvantage helps financial institutions quickly adapt to regulatory changes and improve their compliance posture, Tuum also integrates with other best-of-breed solutions to deliver a comprehensive end-to-end proposition beyond core capabilities. By partnering with ComplyAdvantage, Tuum expands its platform’s capabilities to offer robust, real-time financial crime detection and compliance solutions. This partnership underscores Tuum’s commitment to providing comprehensive, region-specific solutions that are deployed quickly and address the complex regulatory requirements of the financial industry.
Tuum clients will gain access to an array of sophisticated compliance solutions, including:
- Real-Time AML Screening: Automated, real-time monitoring to swiftly identify and report suspicious transactions.
- Holistic Risk Assessment: Utilizing AI and machine learning for comprehensive risk evaluation and actionable insights.
- Efficient Onboarding: Streamlined, compliant customer onboarding to save time and reduce costs.
“We are delighted to partner with Tuum to offer our advanced, AI-driven financial crime intelligence products alongside Tuum’s core banking platform. We believe every financial institution can – and must – have access to best-in-class risk management solutions. This partnership is an important milestone on that journey,” said Kanisha Patel, Global Partnerships Lead, ComplyAdvantage
Jean Souto, VP Global Partnerships at Tuum, stated, “This alliance with ComplyAdvantage allows us to provide our clients with unparalleled compliance solutions, reinforcing our commitment to delivering cutting-edge, adaptable banking technology. By leveraging our cloud-native platform and partner marketplace, we can deploy end-to-end regional solutions quickly and flexibly, ensuring financial institutions are equipped with the necessary tools to operate efficiently and competitively in their respective regions. This modern approach enables faster compliance, reduces business risk, and increases operational efficiency, empowering financial institutions to meet regulatory demands head-on while driving their business forward.”
About ComplyAdvantage
ComplyAdvantage is the financial industry’s leading source of AI-driven financial crime risk data and fraud detection technology. ComplyAdvantage’s mission is to neutralize the risk of money laundering, terrorist financing, corruption, and other financial crime. More than 1,000 enterprises in 75 countries rely on ComplyAdvantage to understand the risk of who they’re doing business with through the world’s only global, real-time database of people and companies. The company identifies thousands of risk events daily from millions of structured and unstructured data points.
ComplyAdvantage has five global hubs in New York, London, Singapore, Cluj-Napoca, and Lisbon and is backed by Andreessen Horowitz, Goldman Sachs, Ontario Teachers, Index Ventures, and Balderton Capital. Learn more at complyadvantage.com.
About Tuum
At Tuum, our mission is to allow banks to replace their legacy systems quickly and safely, to lower their maintenance spending and to open new possibilities to adapt and prosper in the digital world; in short, to set them free.
We employ a smart migration approach to help banks to move off their current systems. Using this approach, our clients go-live on average within 7 months.
Once live, our system enables banks to easily launch new products and open up new verticals. Offering more than core, Tuum allows banks to operate multiple business lines from a single system, including accounts, lending, payments and cards, as well as go further through access to a pre-configurated ecosystem of partner solutions.
Tuum also allows for business transformation. Our business builder gives banks the fine-grained settings to precisely configure their operating, sourcing and distribution models to launch unique models to capitalise on the possibilities of digitization.
Tuum. Core banking. Without limits.
Get in touch to find out more.