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Thought Machine expands into LatAm in partnership with Trafalgar

By Delisha Fernandes

November 24, 2023

  • Borrowing
  • Core Banking Platform
  • core technology.

Thought Machine, Trust Bank Trafalgar has partnered with Thought Machine to create a Mexico-based FinTech deployed on next-generation core technology.

Trafalgar will use Thought Machine’s core banking platform, Vault Core, and develop a suite of additional financial services, including digital cards, POS systems, digital authentication, and more.

‍Trafalgar plans to launch the new platform, termed a ‘turbofintech’, in the second quarter of 2024. This partnership is a crucial move toward empowering Mexican SMEs, essential to the national economy, with the digital tools they need for success in a dynamic economy.

Porfirio Sanchez Talavera, founder and CEO, Trafalgar, said, “Our vision is to combine the agility and innovation of fintech with the reach and impact of traditional banks to create the industry’s first turbofintech. This, in turn, will allow us to transform the financial experience for SMEs in Mexico. Thought Machine is the clear choice for our quest for excellence.”

Trafalgar aims to create an innovative, all-in-one financial platform to serve this vital sector. This platform will offer a wide range of services, such as credit cards, lending, borrowing, and more, overcoming the limitations of legacy banks in serving SMEs with digital and personalised solutions.

‍Trafalgar chose Thought Machine’s Vault Core for its simplicity and flexibility. Vault Core is a cloud-native, API-first core banking platform featuring unique product development capabilities. This functionality will empower Trafalgar to effortlessly create innovative financial products for Mexico’s SMEs.

Paul Taylor, founder and CEO, Thought Machine, said, “We are pleased to partner with Trafalgar, a company with huge ambition to support the growing SME population in Mexico with a groundbreaking service. We look forward to supporting Trafalgar in bringing the benefits of truly cloud-native technology to the Mexican market.”

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