Launch of Uptex Bank's digital services in the MENA region powered by Tuum's OBD technology

In a significant move for the digital banking landscape in the Middle East, Uptex Bank has chosen Tuum as its technology partner for its digital foundation. This marks Tuum's first customer in the region.

Miljan Stamenkovic, Chief Revenue Officer at Tuum, stated that this win demonstrates the growing demand for modern, modular core banking platforms in the Middle East. "We are thrilled to be partnering with Uptex Bank in their mission to provide a user-centric banking experience," he said.

Uptex Bank, a newly licensed e-banking venture in the Middle East and Africa (MEA), owned by Oliver Business Development (OBD), aims to launch fast and build for scale. The institution targets Gen Z, digital-first users, and everyday customers seeking faster, fairer, and more intuitive banking experiences.

Archie Sol, Chief Marketing Officer of Uptex Bank, expressed that the bank is building a unique e-money proposition that combines traditional and next-gen financial services. "Tuum is not just a vendor but a partner for Uptex Bank," Sol stated.

With Tuum's flexible, API-first platform, Uptex Bank is creating a modern, human, and user-centric banking experience. The platform is designed for rapid scalability, robust compliance, and accelerated time-to-market. Tuum's modular, API-first core banking system, deployed via AWS in Europe, will power Uptex Bank's platform.

The new digital proposition will connect seamlessly with OBD's other financial platforms, including Uptex Broker and Rizzbees. Uptex Bank will introduce a comprehensive suite of digital wallet and payment services, operating according to how people live now, not how banks used to operate.

In selecting its technology partner, Uptex Bank prioritized speed of delivery, regulatory readiness, and scalability. Tuum's collaborative approach was pivotal in enabling the delivery of a Minimum Viable Product (MVP) in an ambitious timeframe.

Sol further added, "We are building a unique e-money proposition that combines traditional and next-gen financial services. Tuum's platform was chosen by Uptex Bank to help achieve our vision of a seamless ecosystem."

This partnership is a testament to Tuum's growing influence in the global digital banking sector and Uptex Bank's commitment to revolutionizing banking in the Middle East and Africa.