Tuum, a leading new-age core banking provider, and Paymentology, the world’s premier next-gen global issuer-processor, announced a strategic partnership aimed at introducing a comprehensive, pre-integrated card payment processing and core ledger solution tailored for the European and Middle East markets.
The tie-up, deploying cutting-edge applications, is expected to seamlessly integrate and empower banking and fintech clients in the region to effectively address the ever-evolving demands of modern consumers.
Paymentology, Tuum bridge gap in financial services
This partnership will combine Tuum’s advanced Card Management System (CMS) with Paymentology’s sophisticated card issuer and processing platform, bridging a crucial gap in financial services.
Drawing upon Paymentology’s extensive expertise in card issuance and processing across diverse regions, including the Middle East, Tuum’s customers can gain instant access to a global gateway to streamlined card management and payment processing.
The Tuum and Paymentology proposition, the companies said, will also make it quick and easy for business users to innovate and quickly launch new offerings to market to gain competitive advantage without the burden of significant investment or ongoing expenses associated with frequent changes.
David Oppenheim, Global Head of Ecosystem Partnerships at Paymentology, said the shared technological philosophy of the two companies will empower joint customers to rapidly deploy and refine card-linked financial products.
“The reduced investment and change-related costs will enable our customers to innovate in a cost-effective manner and capture market share within their respective regions,” he said.
Jean Souto, Global Head of Strategic Partnerships at Tuum, said this collaboration holds particular significance for the company’s expansion into the Middle East market, “as we leverage Paymentology’s regional expertise to deliver seamless and innovative financial solutions to our clients”.
“At Tuum, our mission is to allow banks to quickly and safely replace their legacy systems, to lower their maintenance spending and to open up new possibilities to adapt and prosper in the digital world; in short, to set them free,” he said.
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