Tuum, a leading API-first and modular core banking technology provider, and Marqeta, a NASDAQ-listed firm known for its modern card issuing platform, have announced a strategic partnership.
This collaboration aims to offer a pre-integrated FinTech solution designed to fast-track the delivery of modern digital payment programmes.
Marqeta’s forte lies in its innovative card issuing platform, already certified to function in 40 countries, and its commitment to democratising access to card issuing technology. This is achieved through open APIs, which provide customers with the tools to construct more flexible and configurable payment experiences.
Tuum, on the other hand, has gained renown for its cloud-native, next-generation core banking solution. The company facilitates the effortless launch of customer-centric financial solutions, such as accounts, payments, lending, cards and more.
The core objective of this partnership is to enable Tuum’s customers to swiftly implement digital payment programmes by utilising Marqeta’s open API platform. This collaboration will allow European banks and FinTech companies to develop adaptable card programmes that offer industry-leading modern digital payment experiences, thereby saving resources, time, and money.
Further, Tuum’s clients, who already utilise its next-generation core banking solution, will now be able to establish and manage their card programmes. This includes issuing cards and authorising and settling transactions, thus giving banks and FinTech firms the capacity to deliver highly personalised customer experiences.
The alliance merges Tuum’s robust and sustainable core banking solution with Marqeta’s modern digital payment experiences, enhancing efficiency for customers. This amalgamation is not only cost-effective but also accelerates the time-to-market of embedded financial services, with the added benefit of being tailorable to individual customer needs.
Marqeta SVP and Managing Director, International, Jeff Parker said, “We’re thrilled to announce our partnership with Tuum, and through this collaboration, we’ll provide a pre-integrated fintech solution that leverages our open APIs, tokenisation as a service, Just-in-Time gateway funding and other market-leading features.
“Financial services innovators can build, test, launch and iterate modern and scalable card programmes from the ground up, on their terms, delivering a customised card product that fits their needs best.”
Jean Souto, VP Global Partnerships at Tuum, echoed this sentiment, stating, “To keep up with the current pace, it’s becoming increasingly important for banks and fintechs to offer modern digital payment experiences to consumers, and we’re excited to help them take this step through our collaboration with Marqeta.
“While our cloud-native, next-generation core banking platform gives them the security and reliability they need for the future, the pre-built integration allows them to create their own card programmes and deliver highly personalised experiences to consumers.”
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