Tuum and CoorB have partnered to support digital and Islamic banking transformation for financial institutions across the Middle East.
The collaboration combines Tuum's fourth-generation, cloud-native core banking platform with CoorB's implementation experience and Shariah advisory capabilities, covering areas including core modernisation, Islamic banking, BaaS, digital wallets, and Embedded Finance.
Under the partnership, Tuum and CoorB intend to offer financial institutions support across the full transformation cycle, from strategy and design through to implementation and ongoing growth. According to the companies, the collaboration is expected to help banks modernise legacy infrastructure, introduce Shariah-compliant financial products, and adapt more efficiently to changing customer expectations and regulatory requirements in the region.
Tuum's platform is built on an API-first architecture, which the company positions as a foundation for financial institutions seeking to deploy new products without replacing existing infrastructure entirely. In addition, CoorB contributes delivery capabilities and regional market knowledge, an area cited by both parties as relevant given the complexity of Shariah-compliant product structuring and the varied regulatory frameworks across MENA markets.
Islamic banking, BaaS, and wallet-as-a-service adoption
The partnership is also framed around three industry trends the companies identify as significant in the region: the expansion of BaaS offerings, growing adoption of wallet-as-a-service (WaaS) models, and rising demand for modern Islamic banking propositions. Tuum's Islamic banking functionality is designed to support Islamic banks and Islamic banking windows within conventional banks, offering Islamic accounts and deposits, configurable profit calculation and distribution mechanisms, and asset-backed financing structures such as Tawarruq.
These capabilities are intended to allow financial institutions to diversify revenue streams and deliver Embedded Finance offerings without building Shariah-compliant infrastructure from the ground up, according to the companies.
Strategic rationale
Bhavna Rishi, Global Head of Partnerships, Tuum, said Middle East financial institutions are seeking practical routes to modernise core infrastructure and launch digital and Islamic banking propositions, adding that CoorB's regional knowledge and delivery experience support that objective. At the same time, Ahmed Gaber, CEO, CoorB, described the partnership as combining technology, industry expertise, and execution capabilities intended to help clients build financial services while maintaining customer experience standards.
The companies said the collaboration is aimed at institutions operating across the Middle East and beyond, without naming specific countries or markets for initial rollout.
