Thought Machine enables Zigi’s digital credit growth

By Vriti Gothi

Zigi, the innovation arm of Guatemala-based Banco Industrial, has expanded its digital banking capabilities using Thought Machine’s core banking platform, Vault Core, as part of its strategy to accelerate product development and broaden access to regulated financial services.

Launched as a vehicle for digital business creation within the bank, Zigi has built and scaled a fully digital credit proposition using Thought Machine’s technology. The solution was initially rolled out within three months and has since evolved into a white-label lending platform capable of supporting multiple partners and brand environments. According to the company, the platform currently processes more than 50,000 credit disbursements a month.

“Zigi was born to challenge the limits of traditional banking and to create new digital businesses for Banco Industrial,” said Michel Caputi, CEO of Zigi and head of strategic alliances at Banco Industrial. He noted that the collaboration “goes far beyond technology” and reflects a shared objective of building systems that are “flexible, inclusive, and continuously evolving.”

Thought Machine’s Vault Core a cloud-native platform built on smart contract-based architecture—enables Zigi to prototype, launch, and iterate banking products at speed while maintaining compliance. The technology is being applied not only to lending but as a foundation for future digital payments and broader financial product development.

“Zigi embodies the future of banking innovation,” said Paul Taylor, CEO and founder, Thought Machine. “Their engineers are using Vault Core to drive continuous innovation, proving that rapid iteration and secure scaling are now possible for even the largest financial institutions in Latin America.”

The partnership reflects a broader industry trend in Latin America, where established financial institutions are investing in modular, cloud-based platforms to compete with FinTech challengers. By combining the scale and regulatory standing of a Tier-1 bank with a start-up-style innovation unit, Banco Industrial and Zigi illustrate how incumbent banks are re-architecting operations to deliver next-generation financial products.