M1 selects Thought Machine to power its platform

Tuesday 24 May 2022 15:00 CET | News

M1, a US-based finance super app helping people manage and grow their money, has selected Thought Machine, a cloud-native banking technology company, to power their platform. 

Thought Machine’s cloud-native core banking engine, Vault Core, will be deployed by M1 to build and launch new products – all from a single platform.

M1 is empowering financial well-being by helping individuals intelligently invest, borrow, and spend within one holistic super app. Last year, M1 completed a Series E funding round that valued the business at USD 1.45 billion. M1 will use this investment to develop its offering, and with Thought Machine technology, innovate faster.

M1 will migrate existing banking products and accounts onto Vault Core, and have the capability to build more innovative, personalised products. M1 selected Vault Core for its architecture which has been built from the ground up to take full advantage of cloud-native computing. Vault Core’s Universal Product Engine will enable M1 to design and build lending and banking products, and its real-time Ledger will give M1 complete control over the management of its data.

Through one single portal, clients have access to a full spectrum of integrated products specifically designed to improve financial well-being. Thought Machine is positioned to support M1’s vision as every product can be built and launched from Vault Core – and managed from a single source of truth.

Thought Machine’s core banking platform Vault Core is positioned to support large-scale banks undertaking core transformation, as well as challenger banks and fintechs launching new propositions to the market. 

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Keywords: partnership, super app, cloud, digital banking, product launch
Categories: Banking & Fintech
Companies: M1, Thought Machine
Countries: United States
This article is part of category

Banking & Fintech



Thought Machine

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