Uptex Bank has chosen Tuum to drive the expansion of its e-banking services in regions including the Middle East and Africa.

Strategic Partnership with Tuum

This collaboration marks a significant move for Tuum, as it aims to assist and promote the growth of financial institutions in rapidly developing, regulated markets.

Following Uptex Bank’s recent acquisition of an e-banking license, the initiative is part of OBD’s plan to launch a suite of digital wallet and payment services. These include Uptex Broker, a foreign exchange (forex) and contract for difference (CFD) broker in the Middle East and Africa (MEA), and Rizzbees, its EU-licensed cryptocurrency exchange platform.

Description of the Partnership

Tuum’s API-first infrastructure will enable Uptex Bank to integrate secure new e-banking services with their existing brokerage and crypto exchange functionalities. This integration is designed to create a unified financial environment across all their brands, aligning with regulatory requirements from both the Central Bank of Oman and the Capital Market Authority.

The technology will allow for immediate support of digital wallets and multi-currency payments, including USD, EUR, GBP, AED, OMR, SAR. Tuum’s flexible platform is meant to provide a modern, optimized banking experience tailored to meet the needs of clients and users in an evolving market.

Ecosystem Partners

Tuum worked closely with Uptex Bank to select the right ecosystem partners for this initiative, ensuring that each partner aligns with Uptex Bank’s specific use cases and business model.