Tuum, a leading next-generation core banking provider, announces a strategic partnership with AMLYZE, a leading provider of anti-financial crime solutions dedicated for FinTechs, neobanks and other global financial services providers.
The partnership between Tuum and AMLYZE enables banks and financial institutions to leverage out of the box compliance, thanks to the seamless integration of Tuum’s core banking, payments, and card modules, and AMLYZE’s comprehensive compliance solution, helping them stay ahead in the rapidly evolving, highly regulated financial landscape.
AMLYZE offers a full suite of anti-financial crime tools, including transaction monitoring, risk assessment, case management, and screening for sanctions, politically exposed persons (PEPs), and adverse media. This comprehensive set of tools, developed by regulatory insiders, empowers financial institutions with the means to proactively detect and mitigate financial risks while staying fully compliant with stringent regulations.
The financial sector is undergoing a transformation with industry disruptors taking centre stage. Simultaneously, regulatory environments are growing increasingly strict, leaving no room for compromise when it comes to compliance. Tuum and AMLYZE recognize these challenges and are committed to providing a solution that empowers financial institutions across the globe to navigate this evolving landscape confidently.
The initial focus of this partnership is on the European market, where the demand for innovative and compliant financial solutions is at an all-time high. Tuum and AMLYZE are poised to meet the unique needs of European financial institutions by leveraging their combined expertise and technology.
Jekaterina Govina, Head of Partnerships & Regulatory Affairs and co-founder of AMLYZE, expressed her enthusiasm about the partnership, saying, “Our joint solution can meet the needs of any financial institution, as both platforms are built by experts with decades of industry and regulatory experience. We hope that this partnership will bring unprecedented efficiency to the processes of any financial institution.”
Jean Souto, VP Global Strategic partnerships at Tuum, comments “We are thrilled to partner with AMLYZE who are highly specialised and proven in the field of anti-financial crime. We both share the same values around delivering modern, highly configurable, easily integrated solutions. This enables banks and financial institutions to free themselves from the burden of legacy applications so they can respond quickly to market challenges and new opportunities whilst ensuring compliance with increasingly evolving stringent regulations.”
AMLYZE is a Vilnius-based Software-as-a-Service (SaaS) RegTech offering a suite of anti-financial crime solutions for all types of financial services providers. Comprehensive modules include real-time and retrospective transaction monitoring, customer risk assessment, AML/CFT investigations, screening of sanctions, PEPs and adverse media.
The company’s products have been developed by a team of AML experts and ex-regulators who have extensive experience in supervising financial market participants while working for central banks and law enforcement agencies. Being regulatory insiders and understanding the pain points of market participants from the inside has enabled the creation of cutting-edge technology solutions that streamline AML/CFT and compliance processes to unprecedented levels of efficiency.
In May this year, the company successfully closed a €1 million pre-seed investment round led by Practica Capital, one of the leading venture capital firms in the Baltics, and FIRSTPICK, an accelerator and venture capital fund investing in technology companies across the Baltics.
At Tuum, our mission is to allow banks to quickly and safely replace their legacy systems, to lower their maintenance spending and to open up new possibilities to adapt and prosper in the digital world; in short, to set them free.
We employ a smart migration approach to help banks to move off their current systems. Using this approach, our clients go-live on average within 7 months. Once live, our system enables banks to easily launch new products and open up new verticals. Offering more than core, Tuum allows banks to operate multiple business lines from a single system, including accounts, lending, payments and cards, as well as go further through access to a pre-configurated ecosystem of partner solutions.
Tuum also allows for business transformation. Our business builder gives banks the fine-grained settings to precisely configure their operating, sourcing and distribution models to launch unique models to capitalise on the possibilities of digitization.
Since its founding in 2019, the company has expanded its customer base throughout Europe and is located in Tallinn, Barcelona, and London.
Learn more at www.tuum.com.