Modularbank, an Estonia-based core banking platform, has announced the launch of its new corporate brand identity, Tuum.

Founded in 2019, Tuum, which means ‘core’ in Estonian, initially focused on serving banks. It can also enable fintechs and non-financial entities to offer financial services.

Tuum’s core banking platform features independent modules enabling clients to pick specific capabilities according to their requirements.

Currently, Tuum employs over 60 people and through its offices in Tallinn, Berlin and Malaga, serves customers throughout Europe.

In December 2020, Tuum closed a funding round of €4m ($4.6m).

Tuum co-founder and CEO Vilve Vene said: “Having experienced rapid growth over the last two and a half years and evolved quickly to respond to the needs not only of banks but also non-banks venturing into the financial services arena, it was time to renew and refresh our corporate identity to align with our company strategy.

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“The rebrand marks an exciting and an important step on our journey to expanding our reach and consolidating our role as a trusted partner that customers can rely on to help them transform and introduce new services and developing leading-edge solutions that move banking into the future.”

In July this year, IT services provider Trifork and Tuum (then Modularbank) entered into an integration partnership to bolster their banking and fintech offerings.

In March, it tapped German software company HAWK: AI to add anti-money laundering (AML) capabilities to its core banking suite.