Ozone API and Fintech Tuum to Enable Open Banking Worldwide

Ozone API, the global open banking firm, recently announced a strategic partnership with Tuum, a core banking provider, to enable Tuum’s customers to comply with open banking regulations and commercialize open finance across the globe.

The partnership represents a significant milestone “for both companies, combining Ozone API’s standards-based Open API platform with Tuum’s modular core banking solution, which is both cloud-native and based on microservices architecture.”

This integration will streamline end-to-end business processes “by leveraging a pre-integrated ecosystem of best-in-class solutions.”

Ozone API supports all major global open finance standards, “offering over 400 standard APIs, helping customers go beyond compliance and commercialise open banking anywhere in the world.”

By combining their collective strengths, Ozone API and Tuum aim “to create a seamless and comprehensive ecosystem that empowers banks and financial institutions to thrive in the new world of open banking and open finance.”

In doing so, they will drive innovation in “a number of new markets to the benefit of industry players, investors and consumers.”

James Bushby, General Manager for Europe and Global Partnership Lead at Ozone API, says:

“Our collaboration with Tuum marks a new chapter for open banking and finance globally. Our combined strengths will enable financial institutions to tackle compliance challenges while harnessing the immense opportunities of open banking. Together we’re paving the way for industry disruption, elevated customer experiences, and a more open, connected, and customer-focused financial ecosystem.”

Jean Souto, VP Global Partnerships, Tuum, adds:

“At Tuum, we understand the need for banks to replace legacy systems quickly and safely, lowering maintenance costs and unlocking new possibilities. Our partnership with Ozone API directly addresses this need, integrating their Open API platform into our partner solutions. This powerful combination enables our clients to navigate open banking compliance while exploring new revenue streams, fostering innovation, and positioning themselves for success in an ever-changing ecosystem.”

As noted in the update, Ozone API empowers banks and financial institutions “to adapt and thrive in the new world of open data, by providing the technology to unlock the power of open finance and change the world.”

The UK-based fintech is the standards-based open API platform, “supporting all global standards and providing the tools and expertise to help banks and financial institutions create real commercial value.”

With a founding team that led the development of the UK open banking standards, Ozone API continues to “shape global open finance helping regulators, banks and technology platforms to accelerate open finance.”

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