GFT selects Thought Machine’s Vault to speed up global banking transformation

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IT services and software engineering solutions provider, GFT recently announced a global strategic partnership with core banking technology firm, Thought Machine. The collaboration was signed after an AWS-based integration project featuring the FinTech’s core banking platform, Vault.

GFT was responsible for developing a complete bank on top of the Vault core engine. The project was delivered for a global tier-one bank, which is currently in a production environment. The bank now aims to boost customer onboarding and product delivery to customers.

Christopher Ortiz, GFT Member of the Group Executive Board and UK Country Manager, said, “Our transformation and software engineering expertise combined with Thought Machine’s core technology will ensure that banks around the world have the necessary tools to help them compete in a cloud-native era. This was a true meeting of minds in terms of two very innovative businesses coming together to provide unique but highly complementary skills and experience to successfully deliver a groundbreaking, new client implementation.”

According to Thought Machine, Vault is a next-generation platform which does not contain any legacy or pre-cloud technology. It has been built from the ground up around APIs using a microservices architecture.

Recently, pan-European banking service provider Monese announced that it would be implementing Thought Machine’s core banking platform Vault. Monese stated that it would be migrating its existing customer base onto the core banking provider’s platform in a bid to boost its core technology platform and banking infrastructure.

Steve Hoy, Director of Partnerships at Thought Machine, said, “Based on cloud-native technology, Vault enables unparalleled speed of development and is already allowing banks to launch and innovate at a rapid pace. Our experience of GFT as an integration partner was exceptional, not only were they great people to work with, but their engineering skills, underpinned by an unusually deep understanding of systems implementation and delivery, were second to none.”