FINCA, Thought Machine launch ‘361’ to power financial inclusion in Africa

By Gloria Methri

FINCA has teamed up with Thought Machine to launch “361 by FINCA”— a transformative digital operating platform designed to scale financial inclusion across Africa.

For years, financial services providers (FSPs) in emerging markets have struggled to meet the needs of low-income customers due to inflexible, outdated systems and complex onboarding processes. 361 by FINCA, built on Thought Machine’s cloud-native core banking engine, Vault Core, addresses these challenges head-on by offering unprecedented levels of configurability, speed, and scalability.

Through Vault Core’s real-time architecture and API-first approach, FINCA will deliver tailored financial solutions that support low-income communities, enabling them to invest in opportunities, strengthen financial resilience, and access automated, streamlined loan products. The platform’s advanced architecture will also facilitate FINCA’s rapid expansion across African markets, integrating seamlessly with multiple customer touchpoints and service channels.

Herman Spruit, CEO of 361 by FINCA, said, “We are building a new FinTech platform that is fast, flexible, and deeply connected to people’s lives. With 361, powered by Thought Machine’s technology, we can create personalised financial products that evolve with our customers—whether they are saving for education, launching a microenterprise, or supporting their families.”

Vault Core, free from legacy code and built for scale, provides FINCA with the agility to create hyper-personalised offerings for diverse user segments—from smallholder farmers to women entrepreneurs and gig workers. With its modular structure and real-time data capabilities, the platform will enable faster product rollouts and dynamic responses to shifting market needs.

Paul Taylor, CEO and founder of Thought Machine, added, “This partnership reflects a shared commitment to using cloud-native technology to design world-class financial products that fuel economic empowerment. We’re proud to work alongside FINCA in reimagining financial services across the continent.”

The platform’s implementation will be spearheaded by Ikigai Digital, a certified Thought Machine delivery partner with a strong track record in core banking transformations. Ikigai will oversee platform operations, system migration, and integration architecture, ensuring a robust and future-ready rollout.

Andy Farmer, CEO of Ikigai, noted, “We have partnered with FINCA to create a modern microfinance platform underpinned by cutting-edge technology. This collaboration will drive greater financial access in underserved markets, helping to improve millions of lives.”

Beyond its core rollout, 361 by FINCA is set to offer white-labelling capabilities, enabling other organisations to adopt Vault Core technology under their brands. This strategy will foster a broader ecosystem of inclusive finance providers, collectively accelerating access to tailored financial services across Africa.