Thought Machine is expanding into Latin America with its latest client, private debt platform Cordada
In brief:
-The Chilean company, which provides solutions for fintechs and lenders serving SMEs in Latin America, will use Thought Machine’s cloud-native core banking platform ‘Vault Core’ to create personalised financial products
-Currently operating in Chile, Peru and Mexico, it plans to use Thought Machine’s Vault platform to expand to new markets in Latin America and to expand its suite of lending solutions.
-Cordada will migrate existing products and services onto Vault Core and leverage this technology to design, test, and deliver high-quality financial products that empower lenders of all sizes to fund the next generation of SMEs.
What does this mean?
Paul Taylor, founder and CEO, Thought Machine, comments: “Running on Thought Machine technology, Cordada will empower lenders of all sizes and provide high-quality financing options to SMEs across Latin America. We look forward to Cordada enhancing its product offerings and delivering a new era in SME funding for Latin American businesses.”
