FIINU PLC

Business and Financial Review • Mar 25, 2025

National Storage Mechanism | Additional information

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."

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For further information, please contact: 

Fiinu Plc Dr. Marko Sjoblom, marko@fiinu.com	Tel: +44 (0)1932 629 582
SPARK Advisory Partners Limited (Nomad) Mark Brady / Jade Bayat	Tel: +44 (0) 20 3368 3550
SP Angel Corporate Finance LLP (Joint Broker) Bruce Fraser / Ezgi Senturk	Tel: +44 (0) 20 7470 0470
Oberon Capital (Joint Broker) Nick Lovering / Adam Pollock	Tel: +44 (0) 20 3179 5355

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

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