Thought Machine, a cloud native core banking technology company, has selected global payments company Wise, formerly known as TransferWise, by integrating Wise Platform into Thought Machine’s core banking engine, Vault.
This will allow any bank, fintech, or financial institution using Vault to offer Wise’s international transfers’ services to their customers. The two companies have combined their technologies and built an integration layer. This allows financial institutions using Thought Machine’s core to ensure interoperability across all their systems and accelerate their implementation and delivery of Wise’s payments service to their customers.
Founded in 2014 by former Google engineer Paul Taylor, Thought Machine’s core banking engine, Vault, enables tier one banks and fintechs to build a modern customer experience, free from the constraints of legacy technology. Thought Machine names Lloyds Banking Group, Standard Chartered, Atom bank, Monese, Curve, and SEB as clients, according to the company’s statements.
This collaboration follows a period of rapid international expansion for Wise. The company has partnerships with Monzo, N26, Bunq, LHV and BPCE in Europe, Stanford FCU, and Novo in the US, as well as UP in Australia.
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