RCS - Fiinu PLC - Tuum Agreement reactivated to support White-Label

FiinuAnnouncement

25/03/2025 07:15

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RNS Number : 9274B  Fiinu PLC  25 March 2025

Reach Announcement

 

25 March 2025

 

Fiinu Plc

("Fiinu", the "Company" or the "Group")

 

Tuum Agreement reactivated to support White-Label

Fiinu Plc (AIM: BANK), a fintech group and creator of the Plugin Overdraft®,
announces the reactivation of its core banking software services agreement
with Tuum following the signing of a Second Amendment to the original
Agreement.

This reactivation is linked to the Company's strategic white-label initiative
announced on 15 January 2025 and updated on 5 March 2025.

Under the revised terms, Tuum will continue to provide core banking modules to
Fiinu in a dedicated, scalable environment that enables the onboarding of
third-party customer instances, consistent with Fiinu's white-label commercial
model. Fiinu will be responsible for support and service to each instance.

The original agreement with Tuum was announced previously but put on hold
during Fiinu's commercial realignment. The updated agreement now aligns with
Fiinu's reaccelerated roll-out strategy alongside a regulated UK banking
partner. The earlier pre-configured and tested Tuum environment as part of
Fiinu Bank mobilisation was stored and Fiinu will be able to continue where it
was left.

Commenting, Dr Marko Sjoblom, CEO of Fiinu, said:

"We're pleased to reactivate our relationship with Tuum at this important
stage in our journey. Their flexible, API-first modular banking architecture
is a perfect fit for our Plugin Overdraft® technology platform which can sit
alongside any bank existing infrastructure. With this agreement, we are better
positioned to scale our white-label proposition and bring real Open Banking
enabled innovation to market."

 

Rivo Uibo, CBO and Co-Founder at Tuum, added:

"Fiinu's vision for unbundled overdraft is both timely and necessary, and
we're proud to support them in bringing it to life. Our core banking platform
is natively designed for API-first deployment, and it enables rapid deployment
and seamless scalability, which aligns well with Fiinu's mission to enhance
financial inclusion through Open Banking. Fiinu has kept us informed at all
times during their past challenges but we have always believed in their
capability to get the product delivered in the end."

 

~ ENDS ~

 

 

 

 

 

For further information, please contact: 

 

 Fiinu Plc                                                     Tel: +44 (0)1932 629 582

 Dr. Marko Sjoblom, marko@fiinu.com (mailto:marko@fiinu.com)

 SPARK Advisory Partners Limited (Nomad)                       Tel: +44 (0) 20 3368 3550

 Mark Brady / Jade Bayat

 SP Angel Corporate Finance LLP (Joint Broker)                 Tel: +44 (0) 20 7470 0470

 Bruce Fraser / Ezgi Senturk

 Oberon Capital (Joint Broker)                                 Tel: +44 (0) 20 3179 5355

 Nick Lovering / Adam Pollock

 

About Fiinu

Fiinu, founded in 2017, is a fintech group that has developed the Plugin
Overdraft®, an unbundled overdraft solution that allows customers to have an
overdraft without changing their existing bank. The underlying bank
Independent Overdraft® technology platform is bank agnostic, enabling it to
serve all other banks' customers. The Plugin Overdraft® platform can
technically access over 100 million bank accounts in the UK. Open Banking
allows Fiinu's Plugin Overdraft® to attach ("plugin") to the customer's
existing primary bank account, no matter which bank they may use. Fiinu's
vision is built around Open Banking, and it believes it increases competition
and innovation in banking.

 

For more information, please visit www.fiinuplc.com (http://www.fiinuplc.com/)

 

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