The collaboration aims to assist Tuum’s customers in complying with Open Banking regulations and commercialising Open Finance on a global scale. This partnership signifies a step forward for both companies, combining Ozone API's industry-leading Open API platform with Tuum’s cloud-native, microservices-based core banking solution. The integration will streamline end-to-end business processes by leveraging a pre-integrated ecosystem of solutions.
Ozone API supports major global open finance standards, offering more than 400 standard APIs to help customers go beyond compliance and drive Open Banking initiatives around the world. By working together, Ozone API and Tuum aim to create a seamless ecosystem that helps banks and financial institutions excel in the realm of Open Banking and finance. This collaboration aims to support innovation and drive industry disruption in various markets.
In the company press release, officials from Ozone API highlighted the significance of the collaboration in advancing Open Banking and finance globally. They emphasised the potential for improved customer experiences and a more connected financial ecosystem.
In turn, officials from Tuum underscored the importance of quickly replacing legacy systems to unlock new opportunities and reduce maintenance costs for banks. They emphasised how the partnership with Ozone API enables clients to navigate Open Banking compliance while exploring new revenue streams and supporting innovation.
Tuum specialises in helping banks replace legacy systems quickly and safely, lowering maintenance spending and opening up new possibilities for adaptation and prosperity in the digital age. They employ a smart migration approach to assist banks in transitioning from their current systems efficiently. Tuum's solutions enable banks to launch new products, operate multiple business lines from a single system, and undergo business transformation to capitalise on digitisation opportunities.
Ozone API, a UK-based fintech company, helps banks and financial institutions to adapt and advance in the age of open data. The company provides technology to unlock the power of open finance and facilitate real commercial value creation. In essence, Ozone API supports global standards and offers tools and expertise to accelerate Open Finance initiatives.
For more information about Ozone API, please check out their detailed profile in our dedicated, industry-specific Company Database.
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