Tallinn, 30th September 2021 – Modularbank, the next-generation core banking platform, has today announced the launch of its new corporate brand identity to better reflect its company values and market offering. The new company name is Tuum, which means “core” in Estonian, highlighting both its native roots and its goal to help customers supercharge their business from within through the use of its banking technology. The brand refresh alludes to the new scope of the company, which has evolved significantly since its inception in 2019. While the company was initially set up to focus on serving banks, Tuum’s flexible core banking technology is not limited to banks, it can also help fintechs and any type of business looking to offer innovative financial services.
In the two years that the company has been operating, it has seen rapid growth and has already acquired an impressive customer base throughout Europe. It currently employs over 60 people across Europe with offices now in Tallinn, Berlin and Malaga. In December 2020, it closed a funding round of €4m. The new brand identity seeks to align both with the company’s ongoing expansion plans – to extend its core banking platform offering both within and beyond Europe – and with its story and ethos. Tuum brings together years of experience in working both in technology and in banking. This expertise has enabled the company to build an extremely flexible, lean and modular core banking platform that is able to cater to the different needs of a broad range of clients from banks to other types of business (across vertical sectors) looking to roll out new or offer enhanced banking services to customers.
The new short and punchy name which excludes the word ‘bank’ also eliminates any confusion as to the services the company offers; Tuum is not a bank but a technology provider and a trusted partner for banks and businesses as they digitally transform or launch innovative new value propositions.
Vilve Vene, CEO and Co-founder at Tuum 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.” She continued: “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.”