Tuum selected by Uptex Bank to power e-banking expansion in Middle East and Africa
Following the recent acquisition of its e-banking license, OBD is launching Uptex Bank, a suite of digital wallet and payment services designed to unify its growing financial ecosystem. This includes Uptex Broker, a forex and CFD broker in MEA, and Rizzbees, its EU-licensed Crypto Exchange Platform. The new proposition will run on Tuum's modular, cloud-native core, deployed via AWS in Europe and purpose-built for scalability, compliance, and rapid go-to-market.
Uptex Bank was looking for a partner who could help them deliver a Minimum Viable Product (MVP) in a very short timeframe without compromising on scale or regulatory readiness. Tuum's approach as a true partner, rather than a vendor, was key to making this possible.
'We're building a unique e-money proposition that brings together traditional and next-gen financial services into one seamless ecosystem,' said Archie Sol, Chief Marketing Officer. ' Tuum stood out as the platform to help us achieve this vision. From their sleek technology to the responsiveness of their team, it was clear that they're not just a vendor—they're a partner. With Tuum, we're not only launching fast, we're building for scale. Uptex Bank is built for people tired of the old way banks treat them. From Gen Z and digital-first users to everyday customers seeking something faster, fairer, and more intuitive. With Tuum's flexible, API-first platform, we're creating a banking experience that's modern, human, and built for how people live now, not how banks used to operate.'
Crucially, Tuum's API-first infrastructure allows Uptex Bank to seamlessly integrate its new e-banking services with its existing brokerage and crypto exchange, enabling a unified, interoperable financial environment across its brands. The solution is fully aligned with Oman's regulatory framework, including requirements from the Central Bank of Oman and the Capital Market Authority. Tuum's technology will also enable OBD to support digital wallets and multi-currency payments (USD, EUR, GBP, AED, OMR, SAR) from day one.
The group expects to onboard more than 50,000 users in its first year, with millions of transactions anticipated across its fintech portfolio.
Uptex Bank selected Tuum through a competitive process, with speed, scalability, and regulatory readiness emerging as key differentiators. With an MVP launch planned within months, Tuum's ability to move fast while delivering enterprise-grade control gave Uptex Bank the confidence to move forward. Beyond the core platform, Tuum also worked closely with Uptex Bank to bring together the right ecosystem partners for the initiative ensuring each aligned with Uptex Bank's specific use cases and business model.
'This is a landmark win for Tuum,' said Miljan Stamenkovic, Chief Revenue Officer at Tuum. ' It shows the rising demand for modern, modular core banking platforms in the Middle East. OBD is building an ambitious and truly differentiated proposition in Oman and we're proud to provide the infrastructure behind it.'
About Uptex Bank
Uptex Bank is a next-generation e-banking platform transforming how people access and manage their finances across the Middle East and Africa. Built for speed, simplicity and trust, it serves a wide range of users including Gen Z, digital-first individuals, entrepreneurs and customers seeking an alternative to traditional banking.
Developed by Oliver Business Development (OBD), Uptex Bank is part of a broader financial ecosystem that includes Uptex Broker, a licensed forex and CFD trading platform, and Rizzbees, an EU-licensed crypto exchange. Together, these services offer a seamless and interoperable experience across banking, trading and digital assets.
Uptex Bank empowers users to move beyond outdated systems and take control of their financial future with a modern, intuitive and fully compliant platform.
About Tuum
Tuum is the core banking platform for a world of banking without limits.
Built for institutions ready to modernize, scale, and lead, Tuum helps banks, lenders and fintechs escape the constraints of legacy technology and accelerate into a new era of agility, innovation, and growth.
Cloud-native and modular by design, Tuum supports all key financial business models, from lending and payments to BaaS and Islamic banking, on a single, extensible platform. Clients can modernize progressively, launch products in weeks, and expand into new markets without sacrificing control, compliance, or performance.
With enterprise-grade scalability, real-time processing, and an open API architecture, Tuum delivers the flexibility to adapt fast, while significantly lowering total cost of ownership and shifting budgets toward innovation.
Tuum is trusted by leading financial institutions across the globe to build the future of banking—one without limits.
Tuum. Banking without limits. www.tuum.com
Media Contact:
Amanda Steward
Tuum Marketing
amanda.steward@tuum.com
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