8.6 C
New York
Thursday, February 25, 2021
Home Fintechs Curve Credit will be powered by Thought Machine’s Vault

Curve Credit will be powered by Thought Machine’s Vault

Thought Machine is a cloud-native core banking technology company and it has been selected by Curve to power it’s new ‘buy now, pay later’ feature, the Curve Credit. 

Curve Credit is aiming to attract 300,000 active customers in the UK in the first three years and launch in the US in its first year.

Read also: Monzo launches new Premium account and offers its first metal card

Paul Harrald, the head of Curve Credit, said “The service will offer our customers a unique combination of capabilities that will generate a truly satisfying experience.”

With Vault by Thought Machine, the Curve team may even build financial products by writing them as code into Thought Machine’s smart contracts interface.

The Vault product has been most recently adopted by Monese but is also used by companies like the Lloyds Banking Group, Atom Bank, and Standard Chartered.

Paul Taylor, CEO of Thought Machine, comments: “Unbeatable financial services organisations are those which embrace modern, cloud-native technology, like Curve. We look forward to working alongside Shachar, Paul, and the Curve team, to bring this truly unseen proposition to the market.”

“Our teams share a passion for building expertly-engineered products that give customers choice and flexibility in managing their finances, and to do so in a meaningful way,” he added.

“We are excited about launching Curve Credit with Thought Machine’s core banking technology, which is unrivalled in the market. Thought Machine is the only technology that allows us to deliver the flexibility and manageability we desired for our customers. Curve Credit’s ethos is about responsible lending and responsible borrowing. Alongside Curve OS, this three-way dynamic will be able to give each customer the clearest possible terms via a simple and beautiful product and experience,” said Paul Harrald, Head of Curve Credit.

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

TransferWise gets rebranded as ‘Wise’

The rebranded company Wise drops the part Transfer as a signal of moving on from the money-transfer focus of the company.

Revolut about to increase fees and cut number of free trades

Revolut introduced additional fees on its free plan and trading on the Revolut platform will also become more expensive.

Exclusive: An interview with Michael Schweikart, a co-founder of the sustainable banking provider Tomorrow

Tomorrow is a social business FinTech company and a neobank, that was started in 2018 by founders Inas Nureldin, Jakob Berndt, and Michael Schweikart with a vision to use money as a lever for positive change. Since its launch in 2018, the company has 50+ employees and 55,000+ customers.

N26 introduces 100% digital account

The German digital bank has just announced the launch of a 100% digital N26 Standard account equipped with a virtual card.