Tuum Power Bank's Digital Transformation Paves the Way for BaaS and Core Modernization in Worldwide Banking, Serving as a Template
Bank CenterCredit, Kazakhstan's third-largest bank, has chosen Tuum, a next-generation core banking provider, to power its new Banking-as-a-Service (BaaS) proposition. This strategic partnership is set to position Bank CenterCredit at the forefront of Central Asia's rapidly expanding digital finance news market.
The entire solution will be deployed on AWS Outposts within Bank CenterCredit's data center, combining cloud-native agility with the control of an on-premise model. Initially, Tuum will provide the Accounts, Payments, and Cards modules to Bank CenterCredit, all managed through the Tuum Orchestration Platform (TOP).
Ruslan Vladimirovich, President of Bank CenterCredit, has stated that Tuum's platform was chosen due to its speed, flexibility, and scalability. This will allow for a quick launch of the BaaS proposition and provide a foundation for future innovation, including lending and Islamic finance.
Bank CenterCredit's founder, Bolat Zhamishev, is known for his forward-thinking approach. The bank will run Tuum in parallel with its legacy systems, allowing for rapid deployment of new products without the risk and disruption of a full-scale legacy overhaul.
Tuum's track record in powering high-growth BaaS propositions, including LHV Bank, continues to attract forward-thinking banks globally. The roadmap for the partnership includes future expansion into Lending and a fully integrated Islamic Banking offering.
Miljan Stamenkovic, Chief Revenue Officer at Tuum, has expressed pride in the partnership with Bank CenterCredit, stating it's a powerful testament to a new model for banking transformation. This latest partnership with Bank CenterCredit underscores Tuum's growing momentum and its unique ability to help clients launch, scale, and lead in fast-moving markets.
The blueprint established with Bank CenterCredit in Central Asia is replicable for financial institutions across the EMEA region looking to capture the opportunity in embedded finance. The partnership between Bank CenterCredit and Tuum demonstrates Tuum's readiness to meet the specific demands of markets across the Middle East and beyond.
This strategic partnership is considered a significant accelerator for Bank CenterCredit's long-term vision. It's more than a regional success; it's a powerful testament to a new model for banking transformation. The partnership between Bank CenterCredit and Tuum establishes a strategic model for incumbent banks globally to innovate quickly, compete with digital challengers, and unlock new revenue streams through embedded finance.
BCC's BaaS offering, powered by Tuum, will enable the bank to serve a wide ecosystem of fintechs and corporate partners, positioning it at the forefront of Central Asia's rapidly expanding digital finance news market. The partnership between BCC and Tuum is a blueprint for progressive modernization, a strategy gaining traction among established banks in the GCC, Middle East, and Europe.
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