By Oliver Smith on Thursday 28 October 2021
Two Estonian fintechs teaming up.
Multi-currency bank accounts, virtual IBANs, UK Faster Payments, FX and many more features are being added to Tuum’s existing API.
The laundry list of banking and payment features are coming from a new partnership between Tuum and LHV UK, the UK arm of the Estonian bank.
LHV UK works with the likes of Monese, Wise, Coinbase and Airwallex and is the process of securing a UK banking licence to separate its services and infrastructure arm from itra more ‘traditional’ retail bank parent company in Estonia.
Tuum in turn serves all kinds of fintechs and financial services firms with core banking technology, and now payments and accounts too.
“Clients and prospects of Tuum can now avail of the wide range of payment and banking services offered by LHV right from the get-go, enabling faster than ever times to market for new products and services,” said Julien Douve, Tuum’s global head of alliances and partnerships.
“This joint offering positions Tuum as a partner of choice for newcomers (EMIs, PSPs, crypto etc.) and embedded finance providers alike that are looking to launch innovative propositions in a fast, agile and secure way.”
Its rebrand last month was said to be in order to shift away from its ‘bank’ suffix and highlight that it no longer just serves banks, but rather the whole fintech ecosystem.