Search Results for "Thought Machine"
6 results for "Thought Machine"
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SEB Embedded Goes Live with Thought Machine-Powered BaaS Platform
Swedish bank SEB launched its embedded BaaS platform, powered by Thought Machine's Vault Core, going live with supermarket chain Hemköp as its first client. The platform supports debit cards and Apple Pay. The full launch was achieved in under 10 months from initial collaboration in December 2023.
Thought Machine Raises $200M Series C, Achieves Unicorn Status
Cloud-native core banking provider Thought Machine raised $200 million in a Series C round, surpassing a $1 billion valuation and achieving unicorn status. The funding will support expansion of its Vault platform, which powers retail banking services including accounts, loans, and cards for global banks.
Thought Machine Raises $83M Series B for Cloud-Native Core Banking
UK-based BaaS provider Thought Machine raised $83 million in a Series B round led by Draper Esprit. Existing investors Lloyds Banking Group, IQ Capital, Playfair Capital, and Backed also participated. The funding supports global expansion including a new US office and entry into North America, Australia, and Japan.
Lloyds Banking Group Taps Thought Machine for Cloud Core Banking Migration
Lloyds Banking Group announced plans to migrate customers from its legacy Intelligent Finance division to Thought Machine's cloud-based core banking platform. The move addresses growing risks from mainframe skills shortages and legacy IT dependencies. This partnership signals a major UK high-street bank's commitment to cloud-native core banking infrastructure powered by a fintech provider.
Lloyds Banking Group Explores Thought Machine's Cloud-Native Core Banking Platform
Lloyds Banking Group began exploring Thought Machine's cloud-native Vault core banking platform as part of a broader technology transformation. IBM serves as the global implementation partner for the deployment. The initiative aims to replace legacy core banking infrastructure with modern cloud-based systems capable of handling billions of transactions daily.