Tuum, a core banking provider, has recently announced a strategic move into the Middle East and established a regional headquarters at the Abu Dhabi Global Market (ADGM). This expansion follows Tuum’s successful Series B funding round, primarily aimed at enhancing its global presence. The initiative highlights Tuum’s commitment to leveraging its next-generation banking platform to meet the needs of financial services companies within the region.
Tuum’s decision to set up its regional headquarters in ADGM, Abu Dhabi, places the company at the center of the Middle East’s financial and fintech ecosystem.
Our expansion into the Middle East, supported by our recent funding success, is testament to our commitment to bring this transformation to a region ripe for digital banking innovation.
Myles Bertrand, CEO of Tuum
The establishment of the ADGM office is seen as a strategy that not only brings Tuum closer to its Middle Eastern clients but also signals its dedication to being an integral part of the region’s fintech growth.
Core Banking Platform Improvement
The company plans to use the funds from the Series B round to further improve its core banking platform, tailoring it to the region’s regional-specific requirements. This includes deploying the cloud-native core banking platform in various configurations, such as SaaS (with the first regional deployment on Google Cloud in Saudi Arabia) and bank-hosted public, private, or hybrid environments. This flexibility is important for regulatory compliance across different Middle Eastern countries and leveraging the scalability of cloud deployments.
Building Local Presence and Partnerships
To facilitate its regional operations, Tuum is assembling an on-the-ground team of sales and industry experts who possess deep knowledge of the Middle Eastern financial landscape.
Opening our office at the ADGM is a strategic step that not only brings us closer to our Middle Eastern clients but also underscores our dedication to being an integral part of the region’s fintech growth story.
Myles Bertrand, CEO of Tuum
Tuum is strengthening its ties with existing partners like Deloitte and Publicis Sapient, which have a significant presence in the region, to offer tailored support to customers.
