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APIs · head to head

Swan vs Tuum

Swan logo

Swan

APIs

European banking-as-a-service platform for embedding accounts, cards and payments into other products

From
On request
Rated
-
Full reviewWebsite
Tuum logo

Tuum

APIs

Modular core banking platform from Estonia, formerly branded Modularbank

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Swan its regulatory base and strongest local account coverage are French and European, so companies needing US, UK-post-Brexit-specific, or broader global banking-as-a-service need an additional provider.; Tuum it is a smaller, younger company than Mambu, so it has fewer live reference deployments and a shorter track record to evaluate risk against.
  • They diverge on capability: Swan covers Embedded business accounts, Tuum covers Modular product structure.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Swan and Tuum actually diverge.

Attributes where Swan and Tuum differ
AttributeSwanTuum

Identical on both: starting price (On request), pricing model (quote), free tier (No), platforms (Web, API), user rating (Not yet rated), category (APIs).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Swan

  • Embedded business accounts
  • Card issuing
  • SEPA payments
  • Local account localisation
  • ACPR regulation
  • Usage-based pricing

Only in Tuum

  • Modular product structure
  • Low-code integration middleware
  • Cloud-agnostic deployment
  • Multi-currency real-time accounts
  • Cards and lending modules
  • Faster migration timeline

What people use each for

The jobs each tool is most often brought in to do.

Swan

  • A vertical SaaS platform wanting to embed business bank accounts under its own brandnot Tuum
  • A marketplace wanting to issue cards to sellers or partners without becoming a licensed banknot Tuum
  • A company wanting SEPA payment initiation embedded directly into its own productnot Tuum
  • A European fintech wanting to avoid a six-figure setup fee and long lock-in typical of legacy banking-as-a-service dealsnot Tuum

Tuum

  • A bank wanting to migrate specific banking products to the cloud within months rather than replacing its entire core at oncenot Swan
  • A fintech in the DACH region or Middle East wanting a European core banking vendor with regional expansion focusnot Swan
  • An institution wanting low-code middleware to connect new modules to an existing legacy core rather than a full rebuildnot Swan
  • A company researching "Modularbank" that needs to confirm it is the same company now branded Tuumnot Swan

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Swan

  • Its regulatory base and strongest local account coverage are French and European, so companies needing US, UK-post-Brexit-specific, or broader global banking-as-a-service need an additional provider.
  • Pricing is described only philosophically (usage-based, no big setup fee) rather than published as an actual rate card, so a company still needs a sales conversation to get real numbers.
  • Embedding banking features into a product is a substantial compliance and design undertaking regardless of the vendor, and Swan handling the licence does not remove a platform's own KYC, AML and customer support obligations for the accounts it offers.
  • As a comparatively young, single-country-licensed e-money institution, its balance sheet and regulatory standing carry more concentration risk than a banking-as-a-service offering backed by an established, multi-jurisdiction bank.
  • Local account depth is explicitly limited to France, Germany and Spain, so a platform needing native local accounts in other European countries may find coverage thinner than expected.

Tuum

  • It is a smaller, younger company than Mambu, so it has fewer live reference deployments and a shorter track record to evaluate risk against.
  • The 2022-era rebrand from Modularbank to Tuum means older funding records, case studies and press coverage appear under a different name, complicating due diligence for anyone unaware of the change.
  • Pricing is entirely unpublished, requiring a sales conversation to budget against competing composable core vendors.
  • Its geographic expansion into DACH and the Middle East is comparatively recent, so support depth and local regulatory expertise in those markets are less proven than in its home Baltic and Nordic base.
  • As with any core banking platform, choosing Tuum is a multi-year infrastructure commitment; switching cores after implementation is a major undertaking regardless of how modular the initial adoption was.

Pricing, plan by plan

Swan

On request
  • Swan$undefined/month
    • Usage-based pricing, no published rate card
    • No long-term contract or large setup fee required
    • Custom quote based on current, not forecast, usage

Tuum

On request
  • Tuum$undefined/year
    • Subscription and module-based pricing, not published
    • Custom quote required via sales

Which should you pick?

Choose Swan if

  • You need embedded business accounts.
  • You work on Web, API.
  • You also want card issuing.
Swan review

Choose Tuum if

  • You need modular product structure.
  • You work on Web, API.
  • You also want low-code integration middleware.
Tuum review

Questions people ask

Is Swan or Tuum better?
Neither clearly leads. Swan starts at On request and Tuum at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Swan or Tuum?
Swan starts at On request and Tuum at On request.
Does Swan or Tuum run on more platforms?
Both run on Web, API, so platform support will not decide this one for you.
What is Swan best used for?
Swan is most often used for a vertical saas platform wanting to embed business bank accounts under its own brand, a marketplace wanting to issue cards to sellers or partners without becoming a licensed bank, a company wanting sepa payment initiation embedded directly into its own product, a european fintech wanting to avoid a six-figure setup fee and long lock-in typical of legacy banking-as-a-service deals. Of those, a vertical saas platform wanting to embed business bank accounts under its own brand and a marketplace wanting to issue cards to sellers or partners without becoming a licensed bank are not what Tuum is typically brought in for.
What can Swan do that Tuum cannot?
Swan covers Embedded business accounts, Card issuing, SEPA payments, Local account localisation. Tuum covers Modular product structure, Low-code integration middleware, Cloud-agnostic deployment, Multi-currency real-time accounts.

Answered from the vendors’ own pages

Swan: Which countries does Swan offer local accounts in?

France, Germany and Spain specifically, alongside broader SEPA payment coverage.

Tuum: Is Tuum the same company as Modularbank?

Yes, Modularbank rebranded to Tuum; it is the same company and platform.

Swan: Is pricing published?

No, Swan describes a usage-based, no-large-setup-fee philosophy but requires a quote for actual numbers.

Tuum: Where is it strongest geographically?

Its base is Estonia and the Nordic and Baltic region, with newer expansion into DACH and the Middle East.

Swan: Who regulates Swan?

France's ACPR (Autorite de Controle Prudentiel et de Resolution), as a licensed e-money institution.

Tuum: Is pricing published?

No, subscription and module pricing require a sales conversation.

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