Among its many impressive achievements, Thought Machine is best known for its Vault Core product. The cloud-native core banking platform has been picked up for use by a wide array of multinational banks and other financial institutions on the scale of JPMorgan Chase and Intesa Sanpaolo. This widespread adoption of Thought Machine’s tech led to a $160 million Series D fundraise and a subsequent valuation of $2.7 billion.
And with access to that new funding, Thought Machine is ready for its next big thing: its own cloud-based payment processing platform, Vault Payments.
“Vault Payments is fully configurable by clients, giving them the power to process card and payment scheme messages freely – with execution logic they design themselves,” said Thought Machine Founder and Chief Executive Officer Paul Taylor. “This is a first for the payments industry – and the next foundational technology we have built, underpinned by our product excellence.”
What makes Vault Payments unique is its seamless support of a variety of payment methods, using physical Mastercard-backed cards as well as virtual and tokenized cards. Vault Payments may be purchased as a standalone or be fully integrated into existing Vault Core infrastructure for Thought Machine clients.