Companies that already use Tuum’s cloud-native, core banking solution can now launch and manage their own card programmes, issue cards and authorise and settle transactions.
The move comes as embedded finance is rising in importance in the banking sector.
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“We’re thrilled to announce our partnership with Tuum, and through this collaboration, we’ll provide a pre-integrated fintech solution that leverages our open APIs, tokenisation as a service, Just-in-Time gateway funding and other market-leading features. Financial services innovators can build, test, launch and iterate modern and scalable card programmes from the ground up, on their terms, delivering a customised card product that fits their needs best”, said Jeff Parker, senior vice president and managing director, International, at Marqeta.
Tuum is an API-first and modular core banking technology provider. In January 2022, the company raised €15m in a Series A funding round led by Portage Ventures.
Its Vice President of Global Partnerships Jean Souto commented on the partnership with Marqeta.
“To keep up with the current pace, it’s becoming increasingly important for banks and fintechs to offer modern digital payment experiences to consumers, and we’re excited to help them take this step through our collaboration with Marqeta”, Souto said. “While our cloud-native, next-generation core banking platform gives them the security and reliability they need for the future, the pre-built integration allows them to create their own card programmes and deliver highly personalised experiences to consumer.”
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