Monese adopts Thought Machine's core banking platform Vault

Tuesday 6 October 2020 11:12 CET | News

Monese, a pan-European banking service that provides instant and localised mobile money accounts in 31 countries, has adopted Thought Machine’s cloud native core banking platform Vault.

Thus, the banking service, which provides accounts to both consumers and businesses, will migrate its existing customer base onto Thought Machine’s cloud native platform, as it focusses on strengthening the company's core technology platform and its banking infrastructure.

Vault’s product building toolkit, known as Smart Contracts, assists banks and fintech companies to build new products. Vault will provide Monese with the cloud technology foundation required to deliver customer experiences.

Founded in 2014 by former Google engineer Paul Taylor, Thought Machine brings cloud native technology to core banking. Thought Machine names Lloyds Banking Group, Atom, SEB and Standard Chartered as clients and users of its platform, Vault.

Monese was launched in 2015 by entrepreneur Norris Koppel. With its mobile money accounts, portability across 31 countries, and its availability in 14 languages, Monese is instant, on-demand and financially inclusive.

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Keywords: Monese, core banking, payments , fintech, banking, partnership, cloud, Vault
Categories: Banking & Fintech
Countries: Europe, United States
This article is part of category

Banking & Fintech