The news follows the completion of the AWS Foundational Technical Review and achieving AWS Qualified Software Certification.
The partnership will significantly speed up the deployment of Tuum’s core banking platform and services for its customers, while also increasing flexibility and scalability.
AWS is a cloud platform that provides a secure and reliable infrastructure for financial services institutions across the globe. With over 200 fully featured services for computing, storage, networking, database, analytics, machine learning, and more. As an AWS partner, Tuum customers can now benefit from hosting its API-first, modular, and microservices architecture on the most trusted, scalable, and high-performance cloud platform available.
Tuum is an API-first and modular core banking technology provider. Its cloud-agnostic solutions and configurable platform make it quick and easy for banks and financial services providers to roll out new financial products and services, as well as manage the migration of legacy technologies and processes.
Fintechs have been rapidly growing in recent years, and many have turned to cloud providers like AWS for their infrastructure needs. With AWS, fintechs can add or remove computing resources to match their needs, enabling them to save costs and improve performance. Additionally, AWS offers a range of services that can help fintechs innovate faster and bring new products to market more quickly. For example, AWS offers a suite of machine learning tools that fintechs can use to improve fraud detection and risk management.
Another benefit of fintechs' partnerships with AWS is the ability to improve data security. AWS provides a range of security features that can help fintechs protect their data from cyber threats and comply with regulations. For example, AWS offers encryption, key management, and access control tools that can help fintechs safeguard their data. AWS also complies with various industry standards and regulations, including the Payment Card Industry Data Security Standard (PCI DSS) and the General Data Protection Regulation (GDPR), which can help fintechs meet compliance requirements.
Finally, fintechs can benefit from AWS's global reach and network of partners. AWS has a global network of data centers that fintechs can use to serve customers around the world. Additionally, AWS has a large ecosystem of partners that fintechs can work with to build and integrate their services.
Tuum has made several recent developments aimed at expanding its offerings and improving its user experience. In February 2022, Tuum announced the launch of its payment gateway solution, which allows customers to make transactions directly through the Tuum platform. This new feature is designed to streamline payment processing and reduce transaction fees for Tuum's customers. The payment gateway also integrates with popular payment providers like PayPal, Stripe, and Adyen, allowing Tuum's customers to offer a wider range of payment options to their own customers.
In addition to its payment gateway solution, Tuum has also focused on improving its user experience with a new mobile app and enhanced customer support.
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