This collaboration equips Thought Machine to embed third-party risk and financial governance within its procurement processes, delivering best-in-class user experience to requesters, reviewers, and suppliers.
By partnering with Omnea, Thought Machine can consolidate legacy vendors and unify its third-party risk management processes, procurement intake and approvals, and supplier management processes within a single platform.
Omnea helps employees to make requests and routes them to the proper security and finance reviewers. It also automatically sends security questionnaires to suppliers, enabling Thought Machine to maintain a high level of risk management and compliance with operational resilience-focused regulation.
Thought Machine representatives note that Omena was chosen for its focus on risk management and for its platform that enables the company to embed consistent security and compliance frameworks throughout Thought Machine’s procurement processes to meet stringent regulatory standards such as DORA.
Omena aims to help Thought Machine with third-party risk management posture, while delivering exceptional experiences throughout their end-to-end procurement processes for better banking infrastructure and modern payments.
The company offers cloud-native core banking and payments technology. Its cloud-native core banking platform, Vault Core, is trusted by banks and financial institutions worldwide, including Intesa Sanpaolo, ING Bank Śląski, Lloyds Banking Group, Standard Chartered, SEB, Lunar, Atom bank, Curve, and more.
Vault Payments is a cloud-native payments processing platform comprising a Universal Payment Engine to support all card and account-to-account payment types. Vault Core and Vault Payments have been written from scratch as an entirely cloud-native system, giving banks full control to build any product required to flourish in a rapidly changing world.
In 2024, Thought Machine partnered with SEB Embedded to help the company roll out a new banking service within a 10-month time frame. The product provides single and joint current accounts designed to help customers manage grocery budgets while earning loyalty points at Hemköp, a Swedish supermarket chain. The service includes features that allow users to deposit and spend funds, accrue loyalty points, and access in-store discounts.
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