THOUGHT-MACHINE
Thought Machine, the cloud native core banking technology firm, has today announced that its core banking platform Vault now runs on every major cloud infrastructure provider including Google Cloud Platform, Amazon Web Services, Microsoft Azure and IBM Cloud. In addition, Vault can be deployed on either the bank’s choice of cloud provider, on premise, in a hybrid cloud using OpenShift from Red Hat, or as a SaaS product.
Thought Machine’s expanded compatibility enables banks to migrate with the freedom to pick the cloud infrastructure partner of their choice - while adhering to any regulatory and legal requirements they might have in place.
As a cloud agnostic business, Thought Machine continues to expand its list of compatible cloud providers. Vault initially rolled out on GCP and AWS before progressing to run on the four leading cloud hosting providers, enabling far greater flexibility than peers in core banking and financial services technology.
The new SaaS offering brings further flexibility for banks wishing to operate an instance of Vault for their institution without the overhead of software management and updates. This Thought Machine-managed service is now available on AWS, with further provider compatibility planned for 2020.
Vault works with financial institutions and technology companies across the spectrum - from tier one global banks, to smaller regional banks, greenfield offerings as well as fintech players who offer banking capabilities to their customers. All of these firms can now deploy Vault in the way that is most suitable for their needs.
Paul Taylor, Chief Executive Officer and Founder of Thought Machine, comments : “At Thought Machine, the benefits of being cloud agnostic are crystal clear. Banks, fintechs and financial institutions have differing needs, and different relationships with the cloud. We don’t want to influence those choices, or those relationships, and are proud to announce we can deliver Vault wherever, and whenever, a business needs. By delivering Vault as a Software-as-a-service product, banks no longer need to concern themselves with the implementation, regulatory and logistical obligations of bringing software in-house. Vault SaaS is now available with the same high level of security and resilience as our deployed version, without the infrastructural management overheads.”
-- ENDS --
About Thought Machine
Thought Machine was founded in 2014 with a mission to enable banks to deploy modern systems and move away from the legacy IT platforms that plague the banking industry. We do this through our cloud native core banking platform, Vault. This next generation system has been written from scratch as an entirely cloud native platform. It does not contain a single line of code which is legacy, or pre-cloud.
Founded by entrepreneur Paul Taylor, Thought Machine’s customers include Lloyds Bank, SEB, Standard Chartered and Atom Bank. We are currently a team of more than 300 people spread across offices in London and Singapore and have raised more than £80m in funding from Lloyds Banking Group, Draper Esprit, IQ Capital, Playfair Capital and Backed. For more information visit www.thoughtmachine.net .
View source version on businesswire.com: https://www.businesswire.com/news/home/20200629005011/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Svante Launches World's First Commercial Gigafactory for Carbon Capture & Removal Filters13.5.2025 22:50:00 CEST | Press release
This next-generation carbon capture and removal solution represents a generational leap forward for managing carbon emissions from industrial sectors such as pulp & paper, waste-to-energy, cement, steel, and energy. Svante Technologies Inc. (Svante), a global leader in carbon capture and removal technologies, has officially completed the commissioning of its new Centre of Excellence for Carbon Capture and Removal – Redwood manufacturing Facility (Redwood) in Burnaby, British Columbia. This milestone marks the launch of the world's first gigafactory dedicated to producing commercial-scale carbon capture and removal filters designed to trap CO2 directly from industrial emissions and the atmosphere, and with the mindset of high-volume automation and product standardization to lower the manufacturing cost. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250513713072/en/ Claude Letourneau, President & CEO, Svante Group opens the S
Svante and SAMSUNG E&A Sign Joint Development Agreement to Offer Digitally Enabled Skid-Mounted Modular Carbon Capture Plants13.5.2025 22:46:00 CEST | Press release
Svante and SAMSUNG E&A have signed a joint development agreement to offer standardized skid-mounted modular carbon capture plants based on Svante’s novel VeloxoTherm™ solid sorbent-based carbon capture filter technology, leveraging SAMSUNG E&A’s advanced digital solutions and modularization capabilities. Standardized modular packages will be branded and marketed globally by Svante and SAMSUNG E&A to deliver commercial carbon capture, use, and storage projects from the early project development stage through to engineering, procurement, and fabrication (EPF) across the heavy industrial and energy sectors. Svante Technologies Inc. (Svante) and SAMSUNG E&A announced today that they have signed a joint development agreement to jointly develop a set of standardized skid-mounted modular carbon capture plants based on Svante’s novel VeloxoTherm solid sorbent-based carbon capture filter technology, leveraging SAMSUNG E&A’s advanced digital solutions and modularization capabilities. The agreeme
AWS and HUMAIN Announce Groundbreaking AI Zone to Accelerate AI Adoption in Saudi Arabia and Globally13.5.2025 18:09:00 CEST | Press release
More than $5 billion joint investment in AI infrastructure, AWS services, and AI training and talent development will advance Saudi Arabia’s mission to be a global leader in AI Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), and HUMAIN, Saudi Arabia’s newly created company responsible for driving AI innovation across the Kingdom and globally, today announced plans to invest $5 billion-plus in a strategic partnership to build a groundbreaking “AI Zone” in the Kingdom. This first-of-a-kind AI Zone will bring together multiple innovative capabilities, including dedicated AWS AI infrastructure and servers with world-class semiconductors, UltraCluster networks for faster AI training and inference, AWS services like SageMaker and Bedrock, and AI application services such as Amazon Q to advance Saudi Arabia’s mission to be a world leader in AI. AWS previously announced and is currently building an AWS infrastructure region in Saudi Arabia that will become availabl
Citco enters strategic partnership with GIC13.5.2025 17:05:00 CEST | Press release
The Citco group of companies (Citco) and GIC are pleased to announce that they have entered a long term, strategic relationship. As part of the relationship, GIC, a global institutional investor, has become a minority shareholder in Citco. The founding Smeets Family shall remain the majority shareholder in Citco. “Citco has organically grown into a global market-leading asset servicing business, delivering value to investors like GIC for over 50 years. Our investment aligns squarely with GIC’s commitment to building long-lasting partnerships that empower family-owned businesses to thrive. With a combination of client-centric solutions and savvy technological investments Citco is at the forefront of their industry. We look forward to partnering with Citco and the Smeets family as we embark on this new chapter together." – Girish Karira, Head of Integrated Strategies Group and Head, New York Office at GIC. “We look forward to continuing our strategic relationship with GIC. Their industry
Tigo Energy Resolves Multi-Year Patent Infringement Litigation With SMA13.5.2025 15:00:00 CEST | Press release
Settlement validates Tigo Intellectual Property, concludes IP litigation with SMA, and reinforces innovation in the marketplace. Tigo Energy, Inc. (NASDAQ: TYGO) (“Tigo” or “Company”), a leading provider of intelligent solar and energy software solutions, today announced that it has reached a multi-year settlement with SMA (SMA Solar Technology AG and SMA Solar Technology America LLC) over litigation regarding the infringement of Tigo intellectual property by SMA. The settlement concludes the infringement complaint brought by Tigo on July 11, 2022, Case No. 1:22-cv-00915 (D. Del.) alleging infringement of certain patents by SMA. Terms of the settlement will remain undisclosed. According to National Electric Code § 690.12, “Rapid Shutdown of PV Systems on Buildings” requires that PV system circuits “installed on or in buildings shall include a rapid shutdown function to reduce shock hazard for emergency responders.” Tigo rapid shutdown technology is compliant with UL 1741, the Standard
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom