audax Financial Technology, a digital banking solutions provider backed by Standard Chartered, has partnered with core banking platform Tuum to support financial institutions in achieving digital transformation.
The collaboration, initially targeting the Middle East, focuses on enabling banks to modernise incrementally, deploy digital services swiftly, and scale Banking-as-a-Service (BaaS) solutions, with plans to expand globally.
This partnership comes at a time when 80% of Middle Eastern banks are prioritising digital transformation.
By combining audax’s ability to deliver digital banking solutions in as little as six months with Tuum’s flexible, modular core banking platform, financial institutions can modernise their systems and launch new digital services quickly and efficiently, without the need for complete system overhauls.
The collaboration allows financial institutions to enhance existing infrastructure, rapidly deploy new financial products and services, and leverage BaaS to diversify offerings and create new revenue streams.
“By partnering with Tuum, a leader in core banking technology, we are able to deliver a holistic solution that combines the best-in-class capabilities of both companies.
This collaboration enables us to provide our clients with comprehensive, scalable banking systems, leveraging market leaders in each area to support their unique digital transformation needs, whether they’re starting from scratch or enhancing existing infrastructures.”
said Mike Breen, Chief Commercial Officer at audax.
“Tuum’s modular and highly configurable core banking platform is purpose-built to meet the demands of BaaS providers, offering a robust infrastructure to support mission-critical operations.
With proven experience working with BaaS providers like LHV and Zenus, we empower financial institutions to rapidly launch innovative financial products, scale operations, and deliver exceptional customer experiences.”
said Miljan Stamenkovic, VP Sales EMEA, Tuum.
Featured image credit: Edited from Freepik
This article first appeared on Fintech News Singapore
