Estonian company Tuum, an innovative core banking provider, and the UK company Flexys, makers of leading debt management software are joining forces. By integrating their platforms, the partnership allows banks to modernise debt collection with a real-time, customer-friendly approach.

For banks, the economic landscape of rising consumer debt and stricter regulations is tough to navigate with outdated, clunky debt management systems. Manual processes and disconnected legacy tech make it an uphill battle to meet modern expectations for speedy, personalised service.

But the Flexys-Tuum partnership has a refreshing solution. Their unified ecosystem replaces banks’ core systems with a cloud-based powerhouse that streamlines debt collection workflows from start to finish. By harnessing real-time data, banks can tailor interactions to each customer’s unique situation.

Tuum´s partnership with Flexys helps to modernise banks debt collection 

“Flexys and Tuum are tackling debt management pain points head-on. Our partnership gives banks high-tech tools to streamline collections from end-to-end, reducing hassles through automation – a win for everyone involved,” said Jean Souto, VP Global Partnerships at Tuum.

The partnership builds on both companies’ track records. Flexys’ software is trusted by major names like TSB, Virgin Money, and MotoNovo Finance to modernize debt collection. Meanwhile, Tuum helps banks break free from legacy shackles and thrive in the digital world.

Tuum sets sights on the Middle East

In February, Tuum raised €25 million in a series B financing round led by CommerzVentures, with participation from Speedinvest alongside existing investors.

Tuum has expanded rapidly since signing its first client partnership in February 2019, working with banks to ease their digital transition onto cheaper, flexible systems that can free them up to develop new products and enter new verticals. The company now boasts a customer base across 10 countries, with a pronounced presence in the UK and Nordics.

This spring, Tuum announced its strategic expansion into the Middle East market and established a regional headquarters at ADGM in Abu Dhabi. The move to expand into the Middle East followed Tuum’s series B funding round at the beginning of the year. Over the last three years, Tuum‘s revenues have soared, demonstrating a compound annual growth rate of over 250%.

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