Vacuumlabs, the global provider of full-stack fintech solutions, today announced a global partnership with Thought Machine, the cloud native core banking technology company, following the two firms’ successful cooperation in Asia.
Vacuumlabs recently completed the first-ever installation in Asia of Thought Machine’s core banking engine Vault. This significant project has enabled a new virtual bank to launch in Hong Kong – along with Asia’s first numberless payment card. The bank went from initial licensing to market deployment in just 18 months.
Thought Machine’s technology and Vacuumlabs’ expertise provided this new bank with unparalleled security, scalability, flexibility and availability. The Vacuumlabs team of specialist engineers worked both remotely and on-site throughout the build to lead the installation. This highly successful collaboration evolved into forging a global strategic partnership.
Steve Hoy, Partnerships Director of Thought Machine explains why Vacuumlabs was the first-choice partner for this ambitious and successful endeavor: “Vacuumlabs has the specialist skillsets, technical expertise, and can-do attitude which enabled the client to embrace our cloud native core banking technology – the collaboration between our two companies was a key factor for the overall success of the project.”
Paul Kenny, Chief Growth Officer comments: “Thought Machine’s cloud native core banking platform, Vault, is a proven gamechanger for banks around the world. This partnership is the logical step forward for our two companies which share a vision of engineering excellence and transforming industries with modern, pioneering technology. We are looking forward to continuing our partnership with Thought Machine in our future client implementations.”
Based on the first implementation of Thought Machine in Asia, Vacuumlabs aims to strengthen its presence in the APAC region and broaden its services to existing and new clients in Asia with the launch of new regional headquarters in Hong Kong.
Vacuumlabs has a well-established track record in supporting those companies and brands that accelerate change in global financial services and make up this ecosystem. It has recently partnered on developing the 2030 Carbon Impact Calculator for Doconomy, and in supporting changemakers by building Daylight, the USA’s first LGBT+ digital banking platform.
Vacuumlabs and Thought Machine also launched the report Building a digital bank in August 2020, providing practical insights on how to future-proof any bank with modern cloud native technology.