Dubai, UAE – December 12, 2024: Audax, the digital banking solutions provider backed by Standard Chartered Bank, has announced a strategic partnership with Tuum, a leader in core banking technologies, to support financial institutions in their digital transformation journey. The collaboration aims to empower banks to modernize their systems, rapidly launch digital services, and expand Bank as a Service (BaaS) offerings, with plans for global expansion following an initial focus on the Middle East.
The partnership comes at a pivotal moment as 80% of banks in the region prioritize digital transformation. By leveraging Audax’s ability to deliver digital banking solutions in just six months and Tuum’s flexible, customizable platform, financial institutions can efficiently modernize without overhauling their entire infrastructure.
“This partnership enables us to provide comprehensive and scalable banking systems, using industry-leading solutions to support customers’ unique digital transformation needs, whether they are starting from scratch or enhancing existing infrastructure,” said Mike Breen, Chief Commercial Officer of Audax.
Through this collaboration, banks can enhance their existing infrastructure, broaden their portfolio of financial products, and adopt BaaS solutions to diversify offerings and create new revenue streams.
“Tuum’s flexible and customizable platform for core banks is specifically designed to meet the needs of BaaS providers, offering a robust infrastructure to support core operations,” said Miljan Stamenkovic, Vice President of Sales for EMEA at Tuum. “With our proven experience with BaaS providers like LHV and Zenus, we help financial institutions quickly launch innovative financial products, scale operations, and deliver exceptional customer experiences.”
Audax and Tuum are confident that their combined expertise will help banks in the Middle East and beyond to achieve seamless digital transformation, enabling them to meet evolving customer demands and unlock new growth opportunities.
