Thought Machine has developed the foundations of modern banking with its cloud-native core banking and payments technology. Its core banking platform, Vault Core, has been written from scratch as an entirely cloud-native system and gives banks full control to build any product via its Universal Product Engine and smart contracts.
Backbase believes that banking done right can revolutionize how people manage their money — and their lives. Backbase’s Engagement Banking Platform helps banks and credit unions craft the seamless user journeys that their customers and members demand.
This shared solution finally allows financial institutions to have a best-of-breed, cloud-native digital banking offering which is enterprise ready – but allows the flexibility that they need today to be competitive.
Configurability of the customer experience
Vault Core allows banks to design and build new financial products through smart contracts. Smart contracts enable banks to build any financial product using developer-friendly code – giving the bank full control over product logic. Any banking product can be manufactured, from new innovative products to replicating back book products for a migration. Backbase’s offering provides the freedom to adopt or extend any customer journey in banking for full customization.
Increased speed to market
Our coded prototype accelerates banks looking to adopt our technologies together and delivers the best of Thought Machine and Backbase.