Monese and Thought Machine have are now cooperating with the challenger bank’s expansion.
Monese is a digital bank that provides accounts to both consumers and businesses. Now it is migrating its existing customer base onto Thought Machine’s cloud-native platform, as the company’s goal is to strengthen the company’s core technology platform and its banking infrastructure.
Vault’s value lies in its unique product building toolkit, known as Smart Contracts, empowers banks and Fintechs to build new products rapidly while radically improving the onboarding and ongoing customer experience.
Vault will provide Monese with the cloud technology foundation required to deliver pioneering customer experiences at speed, and enhanced resilience for millions of its customers.
Norris Koppel, CEO of Monese, said: “At Monese, our goal is to provide truly modern portable banking services so customers have the freedom to thrive wherever they are in the world.”
“By adopting Vault, we unlock new possibilities to deliver a seamless banking experience that will inevitably help us reach more customers.”
Paul Taylor, CEO at Thought Machine, adds: “The most ambitious, and most dominant technology companies, all run their systems entirely in the cloud. Monese has now joined an elite group of financial services companies which deliver innovation, security, and resilience to its customers, at scale.
“Vault’s hyper-flexible core banking platform enables its clients to build and deliver banking services exactly as they want. We are excited to see Monese deliver on its vision of financial freedom using our truly cloud-native platform.”