Thought Machine and Shawbrook have announced that the bank has gone live with Thought Machine’s Vault Core to accelerate product innovation in commercial SME lending.
Following this announcement, Shawbrook selected Vault Core as its core banking platform in order to enable rapid development and improve agility.
In addition, the bank now leverages Vault Core’s configurable, secure, and real-time platform to accelerate product development, improve operational efficiency, and respond more swiftly to market needs. This process takes place as the financial institution also focuses on maintaining stability and continuity for its customers and partners.
More information on Shawbrook going live on Thought Machine’s Vault Core
According to the official press release, Shawbrook is expected to use Vault Core in order to scale up its commercial SME lending, introduce new features quickly, and increase automation across back-end processes. At the same time, with several ready-made products built on smart contracts, the bank is set to be given the possibility to independently develop highly personalised products for a diverse range of customers, including individuals, businesses, and property professionals, as well as to iterate services quickly as market dynamics evolve.
The partnership also reflects the shared commitment to combining optimised technology with improved human expertise. The flexibility and real-time capabilities of Vault Core will enable the bank to move at pace, as well as to launch its buy-to-let offering swiftly and confidently. Furthermore, it will also support Shawbrook in the process of developing and adapting, enabling improved and more secure automation, as well as powering future growth across areas like commercial SME lending.
Both financial institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
