Tuum, an Estonia-based next-generation core banking platform provider, has announced a strategic partnership with Abwab.ai, a Saudi Arabia-based AI-driven financial services enabler, to deliver an integrated digital lending solution for SMEs across the Gulf Cooperation Council (GCC).
The collaboration combines Abwab.ai’s credit decisioning and analytics tools with Tuum’s modular, cloud-native core banking and lending platform.
The integration is designed to help financial institutions develop and manage SME lending services more efficiently, with faster processes and improved transparency.
The partnership will enable banks and non-bank lenders to use AI-based credit assessments tailored for SMEs, drawing on alternative data sources to support financial inclusion.
It will also provide automated loan origination and servicing through Tuum’s modular platform, with the aim of reducing operational costs and enabling SMEs to access financing through digital channels.
“SMEs are the backbone of every economy, yet they remain underserved by traditional lenders,”
said Baraa Koshak, Founder and Chief Executive Officer of Abwab.ai.
“By combining Abwab.ai’s AI-driven intelligence with Tuum’s next-generation core banking capabilities, we are empowering financial institutions to unlock SME growth at scale.”
Miljan Stamenkovic, Chief Revenue Officer of Tuum, added:
“Our mission at Tuum is to modernise financial services with modular technology. Partnering with Abwab.ai allows us to bring a truly end-to-end, AI-enhanced SME lending solution to the region, one that addresses a real market need and accelerates digital transformation.”
Featured image credit: Edited by Fintech News Middle East, based on image by pressfoto via Freepik
