Core banking plartform provider Modularbank has announced it is re-branding to Tuum.

The company said that the launch of its new corporate brand identity would better reflect its company values and market offering.

The name Tuum, which means “core” in Estonian, highlights both the company’s native roots and its goal to help customers supercharge their business from within through the use of its banking technology.

The company, which was founded in 2019, said the brand refresh reflects the new scope of its operations.

While the company was initially set up to focus on serving banks, Tuum’s flexible core banking technology is not limited to banks, and also helps FinTechs and any other businesses looking to offer innovative financial services.

The company said 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.

Tuum 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 ethos.

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.”

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