Core banking platform Modularbank has renamed to Tuum, in a move the company claims better conveys its mission and scope of offering.
Tuum translates to ‘core’ in Estonian, a name which the company believes highlights both its native roots and its goal to help customers supercharge their business from within through the use of its banking technology.
Tuum highlighted that the fresh branding refers to the new scope of the company, which it claims has changed substantially since its founding in 2019. The business was originally established to focus on serving banks, however, its flexible core banking technology is not limited to banks and can also help FinTechs and any other kinds of business looking to offer financial services.
The new name also removes the word ‘bank’ from its branding, something which Tuum claims ‘eliminates any confusion as the services the company offers’.
Over the last two years, Tuum has seen strong growth and has secured a wide customer base throughout Europe. The company currently employs over 60 people across Europe and has offices in Tallinn, Malaga and Berlin.
Back in December 2020, Tuum raised €4m in a seed funding round. The company stated its new brand identity seeks to align both with the company’s ongoing expansion plans within and beyond Europe and with its story and ethos.
Tuum CEO and co-founder Vilve Vene said, “Having experienced rapid growth over the last two and a half years and evolved quickly to respond to the needs not only of banks but also non-banks venturing into the financial services arena, it was time to renew and refresh our corporate identity to align with our company strategy.
“The rebrand marks an exciting and an important step on our journey to expanding our reach and consolidating our role as a trusted partner that customers can rely on to help them transform and introduce new services and developing leading-edge solutions that move banking into the future.”
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