- New Chairman: David Yates, a financial services veteran, has been appointed as the new chairman of Tuum, a core banking software firm based in Tallinn, Estonia.
- Yates’ Background: Yates has over 40 years of experience, having held senior roles at IBM, Western Union, and First Data Corporation. He was CEO and chairman of Vocalink, overseeing its sale to Mastercard, where he later served as president of new payment platforms.
- Other Roles: Yates is also chairman of Nium and vice chairman at Equiniti.
- Tuum’s Platform: Tuum offers an API-based core banking platform enabling banks to operate multiple business lines from a single system.
- Expansion Plans: Tuum serves clients in 11 countries and recently secured €25 million in a Series B round to expand into new markets, including the Middle East.
- Yates’ Perspective: Yates believes there is a strong need for core banking renewal as the financial industry upgrades for the digital age.
- Board’s Decision: CommerzVentures’ Heiko Schwender noted the appointment was made to handle the company’s growing revenues and operational complexity.
