Tuum, a next-generation core banking platform, has announced a strategic partnership with ComplyAdvantage, a leading financial crime intelligence platform. This collaboration aims to deliver faster compliance, reduced risk, and enhanced operational efficiency for financial institutions.
Innovative Integration for Enhanced Compliance
The partnership integrates ComplyAdvantage’s advanced financial crime detection tools into Tuum’s core banking platform. This integration is designed to help financial institutions quickly adapt to regulatory changes and improve their compliance posture. Tuum’s core banking platform enables banks to replace legacy systems, reduce maintenance costs, and efficiently adapt to the digital world. It supports a wide range of services including accounts, lending, payments, and cards, allowing for the launch of new banking products and business lines.
Advanced Financial Crime Detection
ComplyAdvantage provides critical financial crime risk data and fraud detection solutions. Its technology automates real-time AML screening, performs holistic risk assessments using AI and machine learning, and ensures efficient, compliant customer onboarding.
Kanisha Patel, Global Partnerships Lead at ComplyAdvantage, stated, “We are delighted to partner with Tuum to offer our advanced, AI-driven financial crime intelligence products alongside Tuum’s core banking platform. We believe every financial institution can – and must – have access to best-in-class risk management solutions. This partnership is an important milestone on that journey.”
Commitment to Cutting-Edge Technology
Jean Souto, VP of Global Partnerships at Tuum, emphasized the significance of this alliance, saying, “This alliance with ComplyAdvantage allows us to provide our clients with unparalleled compliance solutions, reinforcing our commitment to delivering cutting-edge, adaptable banking technology. By leveraging our cloud-native platform and partner marketplace, we can deploy end-to-end regional solutions quickly and flexibly, ensuring financial institutions are equipped with the necessary tools to operate efficiently and competitively in their respective regions. This modern approach enables faster compliance, reduces business risk, and increases operational efficiency, empowering financial institutions to meet regulatory demands head-on while driving their business forward.”
This partnership marks a significant step in providing financial institutions with the tools necessary to navigate the complexities of regulatory compliance while enhancing their operational capabilities.
