A leading Fintech company headquartered in Switzerland, CREALOGIX and Tuum, a leading next-generation core banking provider, today announced a strategic partnership aimed at revolutionizing the banking and financing landscape in the GCC region. The alliance will bring together the strengths of both companies to deliver an unparalleled end-to-end banking experience. Customers will benefit from a comprehensive suite of services including accounts, cards, payments, cash financing, microfinancing, and car financing solutions.
The signing took place at SEAMLESS Middle East 2024 event in Dubai World Trade Center. This partnership is particularly timely given the UAE's recent announcement of its groundbreaking Open Finance Regulation, which leapfrogs the open banking framework in the rest of the region.
Miljan Stamenkovic, VP EMEA, Tuum, said:
"We are thrilled to partner with CREALOGIX. Our shared commitment to secure, open, and composable platforms makes for a seamless integration, and our complementary solutions will empower financial institutions across the GCC to deliver a truly innovative banking experience."
By combining CREALOGIX’s proven platform capabilities with Tuum's innovative core banking solution, the partnership will establish a groundbreaking offering for the GCC's banking and financing sectors. This unique solution will provide institutions with the agility and scalability required to thrive in today's dynamic financial landscape.
Khalid Al Ahli ME Executive Director at CREALOGIX, said:
"This partnership is a significant step forward in our mission to provide best-in-class financial technology solutions. In the face of rapid technological advancements, financial institutions and fintech companies must embrace innovation to stay ahead of the curve. This partnership empowers institutions to leverage cutting-edge technologies to streamline processes, meet evolving customer demands, and unlock new revenue streams. Tuum's next-generation core banking platform perfectly complements our offerings, enabling us to create a unique end-to-end solution that will transform the banking experience for customers across the GCC region."
About CREALOGIX
CREALOGIX is a global leader in digital banking technology and a Swiss Fintech 100 company. For more than 25 years we have partnered with some of the world’s leading banks and wealth management firms. We provide them with in-depth sector expertise and innovative technology – and we can help you accelerate the success of your digital initiatives.
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 up 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-configured 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 capitalize on the possibilities of digitization.
