Legacy IT is restricting banks from innovating and delivering customers the products and services they want. Thought Machine was founded to solve this issue, and bring banking into the 21st century with the latest engineering principles at its core. Banks today are looking to innovate and tailor new digital product propositions at speed and realize that best-in-breed technology platforms, particularly those already pre-integrated, afford them the flexibility needed to drive innovation and growth while de-risking implementations. Our joint solution with Microsoft Industry Clouds helps directly address this increasing demand from our banking clients by offering a clear set of solutions that help clients select technology vendors banks need to build their technology stack around Vault Core.

Microsoft Cloud & Thought Machine have developed a solution around Unified Customer Profile. Microsoft’s Unified Customer Profile solution perfectly complements Vault’s approach as it allows a bank to view a 360-degree perspective of the customer in a clear and intuitive way. A bank is able to view the most relevant information relating to a customer across multiple business lines, consolidated into a unified dashboard that offers an accurate, consistent, and cohesive source of truth about the customer.

This information can then be leveraged to provide personalized experiences, reveal important opportunities, prevent potential loss, or churn, and improve customer satisfaction. The solution works by integrating Vault Core banking system into the Microsoft Cloud for Financial Services through the Data Connector layer and bring a customer experience on Power Apps i.e., Unified Customer Profile.

To achieve this, Thought Machine has built an Integration service to hydrate the account and balance data from Vault and transform the data into the Azure Event hubs, which then triggers a Logic Apps workflow that extracts the Integration key from the Kafka message from Azure Event hubs to load the data into the FSI Data model.

Once the Vault data is pumped into the Dataverse, the financial details of a customer are displayed on the Unified Customer profile application. In the event of any changes to the customer’s balance (ie, through purchase or transfer of money by the customer), the new balance amount will be transformed in the similar model as above and the new balance will be displayed on the Unified Customer Profile application.

Vault Core is trusted by JP Morgan Chase, Lloyds Bank, Atom bank, SEB, Standard Chartered, Monese and Curve. The platform has been selected by large and small banks, regional and global, for a range of projects including migration, digital greenfield, and new fintech propositions. Built using API microservices, Vault improves a bank’s competitive position, ability to innovate, speed and security.

A highly configurable, single platform, Vault Core is completely flexible, and can run any type of bank. We have become the de facto option for Tier 1 banks undertaking core transformation, as well as smaller banks and fintech challengers who are redefining the industry. We are proud to be the core banking platform of choice for some of the biggest banks in the world.

Thought Machine Vault Core Connector for FSI Cloud

by Thought Machine