LHV’s Partnership with Tuum

Banking infrastructure for 200+ fintechs, underpinned by a scalable, cloud-native core

LHV Bank is the engine behind some of Europe’s most prominent fintechs, quietly powering brands like Wise, Coinbase, and Trustly through its Banking-as-a-Service (BaaS) platform. But as the bank prepared for rapid expansion in the UK—securing a local banking license and scaling its operations to meet growing demand—it faced a challenge familiar to many ambitious institutions: outdated core infrastructure.

With millions of accounts and real-time payment volumes surging, LHV needed a core that could match its pace of innovation. That’s when it turned to Tuum.

Why Tuum?

LHV selected Tuum after a rigorous vendor evaluation process, favouring its API-first, cloud-native platform for its:

• Scalability: Capable of handling over 47 million transactions annually—8% of all European real-time payments.
• Configurability: Fine-grained control over business logic allowed LHV to stay agile while supporting complex, multi-entity operations.
• Smart migration: Millions of customer accounts were migrated in under two months, with zero downtime.
• BaaS-readiness: Tuum enabled LHV to deliver modular banking infrastructure to 200+ fintechs efficiently and securely.

Unlocking scale, speed and independence

By transitioning to Tuum, LHV UK was able to secure its UK banking license and shift its operational model from maintenance-heavy to innovation-focused. Today, 75% of LHV’s IT budget goes to building new customer experiences, not patching legacy systems.

Thanks to Tuum, LHV:

• Expanded SME lending, growing the portfolio to £69M
• Increased deposits to over £200M
• Reclaimed full autonomy over its roadmap
• Improved operational efficiency and compliance posture
• Processed 47.7 million transactions in its first year, handling 8% of all European real-time payments

“No CTO wants to touch the core. But with Tuum, we’ve shown it doesn’t have to be risky or disruptive. We’d encourage others to address their technical debt.”

Andres Kitter

Former Co-CEO, LHV Bank