Tuum is a cloud-native banking platform that enables banks to replace legacy systems with a modern architecture, allowing for rapid deployment of new financial products within an average of seven months. By consolidating multiple business lines such as accounts, lending, and payments into a single system, Tuum reduces maintenance costs and enhances operational flexibility for financial institutions.
Funding
$49.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
CVCLG+1Founders
Product
Problem
Many banks struggle with outdated legacy systems that are expensive to maintain, lack flexibility, and hinder the rapid deployment of new financial products and services. These systems often operate in silos, making it difficult to consolidate business lines and adapt to evolving customer needs and market changes.
Solution
Tuum offers a cloud-native, core banking platform designed to replace these legacy systems with a modern, modular architecture. The platform enables banks to consolidate multiple business lines, including accounts, lending, payments, and cards, into a single system, reducing maintenance costs and enhancing operational efficiency. Tuum's platform allows for rapid deployment of new financial products and services, typically within seven months, and provides the fine-grained settings to precisely configure operating, sourcing, and distribution models. By employing a smart migration approach, Tuum facilitates business transformation and opens up new possibilities for banks to adapt and prosper in the digital world.
Target Audience
Tuum primarily targets banks and financial institutions looking to replace or modernize their core banking systems to improve agility, reduce costs, and launch new products faster.
Features
- Cloud-native architecture for scalability and resilience.
- Modular design allowing for flexible configuration and customization.
- API-driven platform for seamless integration with existing systems and third-party services.
- Support for multiple business lines including accounts, lending, payments, and cards.
- Business builder enabling fine-grained configuration of operating, sourcing, and distribution models.
- Smart migration approach for rapid and safe replacement of legacy systems.
- Pre-configured ecosystem of partner solutions for extended functionality.