NTT DATA builds a Centre of Excellence on Tuum technology to drive core banking modernisation | NTT DATA

Thu, 06 June 2024

NTT DATA builds a Centre of Excellence on Tuum technology to drive core banking modernisation

NTT DATA, a global business and IT services leader, today announces the launch of a corporate Centre of Excellence (CoE), focused on using cloud native technology from Tuum to ease deployments and reduce time-to-market for banks looking to replace core systems.

This alliance between NTT DATA and Tuum will strengthen both companies’ ability to deliver superior customer success. It combines Tuum’s rich functionality, which extends across multiple business lines including accounts, lending, cards, and payments, underscored by its microservices architecture and API-first approach, with NTT DATA’s extensive suite of professional services. The strategic partnership is designed to integrate Tuum’s smart migration techniques with NTT DATA’s broad spectrum of professional services and successful migration experience to deliver cost-effective, scalable banking solutions worldwide. This enhances the value proposition of NTT DATA’s portfolio, offering robust, full-service capabilities that address the multifaceted needs of today’s financial institutions.

This relationship allows Tuum to focus on what it does best — developing and innovating its platform — while NTT DATA delivers professional services excellence. It is this strategic focus that enables Tuum to maintain the lean capital structure of a product-focused, SaaS company and scale effectively, a point where many fast growth companies stumble.

Centre dedicated to core banking modernisation

Made up of highly qualified teams, NTT DATA's CoE operates with consultants specialised in banking with extensive experience of developing digital transformation projects, particularly core banking modernisation programs. These involve the adoption of cloud native solutions that are more flexible, and secure, with easier and better integration to break through technologies such as Artificial Intelligence. A recent NTT DATA research study with 650 global banking decision makers validates that AI and cloud are dual drivers for innovation and growth.  In summary, NTT DATA is relentlessly advancing its expertise and resources to help clients navigate and surmount the complexities of digital transformation, ensuring their systems are modernised and primed for the future of finance.

Investment geared towards international projects

The launch of this centre enables us to take advantage of our existing talent to deliver banking modernisation solutions for all markets where the company is present. This showcases the company’s global capabilities to drive, develop and integrate end-to-end projects, as well as the expertise that the company holds for years in the banking sector, one of its strongest worldwide.

Sumant Kumar, CTO of Banking and Financial Markets, NTT DATA UK&I, commented “Our partnership with Tuum will empower our clients, enabling them to take a more modernised approach to digital banking. This strategic alliance and our new Centre of Excellence both enhance our core offerings and enable NTT DATA to provide a top-tier range of services to address the complex needs of today's financial institutions effectively. We look forward to working with Tuum to drive forward future projects and modernise banking systems for the digital age.”

José Manuel Pérez Bajo, Partner and Head of Banking Modernisation at NTT DATA, says ‘We are delighted to partner with Tuum to enhance our Banking Modernisation value proposition. At NTT DATA we are convinced that moving business processes and applications to Next Generation Core Banking Platforms is a must in every modernisation program within the sector.’

Jean Souto, VP Global Partnerships at Tuum, says ‘This alliance with NTT DATA is a milestone for Tuum, marking a significant step in our journey to redefine core banking globally. Through this partnership, we are excited to amplify the impact of our next generation banking platform, driving innovation and efficiency for financial institutions. Our collaborative efforts with NTT DATA's CoE will ensure that our clients not only keep pace but lead in a rapidly evolving financial landscape, leveraging our agile and adaptive banking solutions tailored for the future.’

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