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Afin Bank partners with Thought Machine to launch a new digital bank

Tuesday 29 October 2024 15:15 CET | News

Afin Bank has partnered with Thought Machine, a cloud-native banking technology company, to launch a new digital bank for Africans living and working in the UK. 

 

Afin Bank aims to meet the financial needs of the African diaspora by offering top-quality, digital-first financial services. Using Thought Machine’s advanced Vault Core platform, Afin Bank plans to provide mortgage options tailored to those who encounter obstacles with borrowing due to nationality, visa restrictions, or lack of a UK credit history. 


The bank's offerings will include savings accounts, residential mortgages, and buy-to-let (BTL) mortgages for Africans residing in the UK. Additionally, it will offer BTL mortgages for Africans living abroad who are interested in investing in UK property. 

 

Afin Bank has partnered with Thought Machine, a cloud-native banking technology company, to launch a new digital bank for Africans living and working in the UK.

 

Moreover, the press release continues to state that Afin Bank will leverage this flexibility to design a comprehensive range of personalised, integrated financial solutions. With Thought Machine’s support, the bank aims to provide essential financial resources to Africans living and working in the UK. 

About Thought Machine 

Thought Machine has developed the foundations of modern banking with its cloud-native core banking and payments technology. Its cloud-native core banking platform, Vault Core, is trusted by banks and financial institutions worldwide.  

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 and give banks full control to build any product required to flourish in a rapidly changing world. 

About Afin Bank  

Afin Bank is a new bank that aims to support one of the UK’s under-served but vital and growing communities, people from Africa living and working in the UK. The bank's mission is to deliver simple products and service excellence to make banking effortless. 

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Keywords: banking, digital banking, partnership, financial services, financial inclusion
Categories: Banking & Fintech
Companies: Thought Machine
Countries: Africa, United Kingdom
This article is part of category

Banking & Fintech

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Thought Machine

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