Core banking provider Tuum has formed a partnership with Bank CenterCredit to power the bank’s new BaaS (Bank-as-a-Service) proposition.
This strategic alliance is aimed at accelerating development for banks worldwide and enabling them to compete against digital competitors. It also seeks to unlock new revenue streams through the adoption of Embedded Finance.
By harnessing Tuum’s flexible and modular platform, Bank CenterCredit plans to launch a fresh BaaS offering in a greenfield environment. This initiative is expected to facilitate collaboration with a broad range of fintechs and corporate partners while positioning Bank CenterCredit as a significant player in Central Asia’s swiftly growing digital finance sector.
Details of the Partnership
In line with this announcement, Tuum will initially supply Accounts, Payments, and Cards modules through its Tuum Orchestration Platform (TOP). The roadmap for future growth includes extending into Lending and a comprehensive Islamic Banking offering. This represents a key feature aligning with Tuum’s strategy to cater specifically to regional market demands.
The entire system will be deployed on AWS Outposts within Bank CenterCredit’s data center, blending cloud-native agility with the control of an on-premise model.
Tuum’s modular architecture and orchestration capabilities are integral in not only facilitating a swift launch but also establishing a robust framework for subsequent enhancements such as lending and Islamic finance offerings.
