back Back

Thought Machine expands into LatAm in partnership with Trafalgar

By Delisha Fernandes

November 24, 2023

  • Borrowing
  • Core Banking Platform
  • core technology.
Share

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.”

Previous Article

November 23, 2023

BCB Group welcomes Oliver Tonkin as new CEO

Read More
Next Article

November 24, 2023

Mastercard & IDB team to boost digital transformation in Egypt

Read More






IBSi Daily News Analysis

Merchants, payments, UAE

July 15, 2024

Borrowing

Global wealth growth rebounds with major shifts expected by 2030, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Thought Machine and Quantifeed partner to modernize banking

Read More

July 12, 2024

SaaScada & Partes sign embedded finance partnership in Switzerland

Read More

July 12, 2024

Finastra completes new SIC instant payments readiness project

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024