Quirin Privatbank has selected Tuum as its core banking platform, aiming to open accounts in minutes and settle payments instantly.
Germany-based Quirin Privatbank has chosen Tuum as its new core banking platform and will run its Accounts, Deposits, Payments, and Loans modules. The bank aims to open client accounts within minutes, settle payments instantly via SEPA Instant, give staff real-time transaction data, and speed up regulatory reporting, while targeting investment execution within the hour. Separately, Quirin is moving its securities infrastructure to Upvest, starting with the Altersvorsorgedepot.
Part of a wider technology rebuild
Tuum will sit at the centre of a wider rebuild of Quirin’s technology stack. Rather than operating as a standalone system, it will be integrated with the bank’s other platforms, so that data moves between them as it is created. Tuum’s cloud-native, API-first architecture also allows Quirin to add or replace individual components later without disrupting the rest of the system. Tuum is live in more than 20 countries.
Sebastian Böttner, CIO of Quirin Privatbank, stated that the bank built its reputation on advice clients can trust, and that its technology must keep pace. According to Böttner, the bank’s goal is to operate on a real-time basis, with payments that settle instantly, data visible as it is generated, and accounts opened within minutes. He added that Tuum will allow the bank to bring new products to market faster and respond more quickly to client needs.
Preparing for the Altersvorsorgedepot
The timing of the move is linked to the launch of Germany’s Altersvorsorgedepot, a state-subsidised retirement investment account replacing the Riester pension, on 1 January 2027, before which no certified products can be offered. Quirin expects a substantial inflow of investment clients when the scheme opens, many of them first-time investors, for whom reliability under high volumes and the speed of onboarding will be key. The Quirin group currently has around 118,000 clients and EUR 11.1 billion in assets under management.
James Bushby, CRO of Tuum, stated that Germany’s private banking market is well established, with many long-standing institutions competing for the same clients, and that decisions made now on modernising core banking infrastructure will shape what these banks can offer over the next decade. According to Bushby, Quirin moved early, and the Tuum platform will allow its team to improve or launch products when it sees an opportunity, rather than waiting for a vendor’s roadmap.
