Abwab.ai, a Saudi Arabia-based AI-driven financial services enabler, has announced a strategic partnership with Estonian core banking platform Tuum. The collaboration aims to deliver a comprehensive, integrated digital lending solution tailored for small and medium-sized enterprises (SMEs) across the Gulf Cooperation Council (GCC) region.
An Integrated AI-Driven Solution
The partnership combines the distinct strengths of both technology firms to create an end-to-end lending platform. Abwab.ai will contribute its specialized AI-powered credit decisioning and analytics tools, while Tuum provides its modular, cloud-native core banking and lending infrastructure. This integration is set to empower financial institutions to develop, launch, and manage SME lending services with greater efficiency, speed, and transparency.
Empowering SME Growth
The joint offering is designed to address the persistent challenge of SME financing in the region, where many businesses remain underserved by traditional lenders. By leveraging AI-based credit assessments that utilize alternative data sources, the platform aims to enhance financial inclusion and provide more accurate risk profiles. For banks and non-bank lenders, this translates into automated loan origination and servicing, significantly reducing operational costs and allowing SMEs to access crucial financing through streamlined digital channels.
A Shared Vision For Regional Transformation
Leaders from both companies highlighted the strategic importance of the collaboration in accelerating digital transformation within the region’s financial sector. The partnership directly addresses a critical market need by providing modern, scalable technology to support the growth of SMEs, which are widely recognized as the foundation of the GCC’s economy.
“SMEs are the backbone of every economy, yet they remain underserved by traditional lenders,” stated Baraa Koshak, Founder and Chief Executive Officer of Abwab.ai. “By combining Abwab.ai’s AI-driven intelligence with Tuum’s next-generation core banking capabilities, we are empowering financial institutions to unlock SME growth at scale.”
Miljan Stamenkovic, Chief Revenue Officer of Tuum, added, “Our mission at Tuum is to modernise financial services with modular technology. Partnering with Abwab.ai allows us to bring a truly end-to-end, AI-enhanced SME lending solution to the region, one that addresses a real market need and accelerates digital transformation.”
About Abwab.ai
Based in Saudi Arabia, Abwab.ai is a financial services enabler that utilizes artificial intelligence to provide advanced credit decisioning and analytics tools. The company focuses on empowering financial institutions to better serve the SME sector through data-driven insights and automated processes.
About Tuum
Tuum is an Estonia-based technology company that offers a next-generation core banking platform. Its modular, cloud-native solution allows financial institutions to quickly build and deploy a wide range of banking and lending products, enabling them to modernize their services and improve operational efficiency.
Source: Fintechnews Middle East
