Thought Machine integrates with Wise to boost international transfers

By Megha Bhattacharya

Core banking technology company Thought Machine today announced that it has teamed up with international payments technology company Wise, formerly known as TransferWise, by integrating Wise Platform into Thought Machine’s core banking engine, Vault. The partnership is expected to allow banks, FinTechs or financial institutions using Vault to enable Wise’s international transfers service.

Paul Taylor, CEO of Thought Machine, commented, “We have built a world-class financial technology partner ecosystem which our clients can tap into as they build a future-proof bank. The firms we choose to partner with are those that have built meaningful, ultra-reliable products that ultimately improve the banking experience for customers. We look forward to working with Wise to bring its industry-leading payments solution to many more financial institutions, and customers, around the world.”

Recently, Vacuumlabs, the global provider of full-stack FinTech solutions, announced a global partnership with Thought Machine, following the two firms’ successful cooperation in Asia. Thought Machine’s technology and Vacuumlabs’ expertise provided this new bank with security, scalability, flexibility and availability. The Vacuumlabs team of engineers worked both remotely and on-site throughout the build to lead the installation. This successful collaboration evolved into forging a global strategic partnership.

Stuart Gregory, MD, Wise Platform & Wise Business, commented, “Though the internet has transformed much of the economy, the global banking system has lagged behind and moving money internationally has remained slow, difficult and expensive for most. Our mission is to change this 一 a goal we share with Thought Machine. Our integration today makes it quicker and easier for financial institutions and banks to enable faster and cheaper payments for their customers and brings us one step closer to our mission of building money without borders.”