Tuum teams up with Zenus Bank to introduce global BaaS

The decision to partner with Tuum can be attributed to the bank’s need for a flexible, scalable solution that was able to further optimise its existing banking infrastructure. By integrating Tuum’s core capabilities, Zenus is set to have the ability to develop and expand its services, providing global access to US banking infrastructure. Additionally, the collaboration, which comes shortly after Tuum partnered with Flexys to optimise debt management for banks, is set to allow Zenus to create more opportunities for businesses to implement US financial services into their offerings.

Furthermore, going live with Tuum’s Accounts and Payments modules supports Zenus in scaling its commercial banking capabilities and creating the foundation for its BaaS offering. Through these modules, the digital bank can advance its strategy, delivering cross-border transactional banking solutions while leveraging its regulatory and technological framework and utilising integrations with systems. When commenting on the announcement, representatives from Zenus Bank underlined that Tuum’s flexibility and time-to-market enabled the financial institution’s developers to mitigate complexities and place the bank in a strategic position for further growth. Currently, the digital bank works towards forging BaaS partnerships, with several of them planned to go live in the fourth quarter of 2024.