22 September 2021

Thought Machine to power core banking for JP Morgan Chase 

Written By FinTech Alliance in Banking

Thought Machine to power core banking for JP Morgan Chase 

JP Morgan Chase has chosen Thought Machine’s Vault to replace its US retail core banking system. 

In Brief:

FinTech Alliance company Thought Machine works with banks to replace core banking systems. 

Its cloud native system, Vault, is used to replace legacy tech. 

Vault will now replace the entire retail core banking system for JP Morgan Chase in the US. 

What does this mean?

Vault is already used by many businesses including Lloyd’s Banking Group in the UK and Mox, Standard Chartered’s Hong Kong virtual bank. 

Thought Machine CEO Paul Taylor commented: “JPMorgan Chase represents one of the most ambitious, powerful financial institutions in the world - and our joint work signals to the finance industry that cloud native core banking technology is the future for financial services.”

Find out more about Thought Machine. 

Up Next ...
04 November 2024

Finance apps are in ‘need of improvement’, says a quarter of Brits

A recent survey by UK mobile specialists Apadmi reveals that ...

04 November 2024

Barclays acquires Tesco Bank

Barclays Bank UK PLC has completed the acquisition of Tesco ...

04 November 2024

fundcraft Increases Series A to €11 Million Demonstrating Strong Product-Market Fit

fundcraft has increased its Series A funding to €11 million, ...

01 November 2024

Mollie and Hyvä announce strategic partnership, launching Hyvä Commerce

Mollie, a leading financial service provider, has partnered with Hyvä, ...

More in Banking

RBI's 3 new initiatives hailed by Industry

29 May 2024

FinTech Leaders praised RBI's 3 new Initiatives...

Fintech Farm raises $32mn

14 May 2024

Expanding its ‘neobank in a box’ model to India In brief:- The ...

Posted By The Community

Velmie and Unlimit unite to accelerate European FinTech growth

08 May 2024

Unlimit BaaS’s comprehensive suite of payment services will enable Velmie to support the launch and...

Written By: Velmie

British Business Bank appoints Kristen McLeod CBE as Chief Strategy Officer

26 April 2024

Kristen joins the BBB from HM Treasury. In brief:- Kristen served ...

White Papers Banking

Consumer Banking Report 2024

29 February 2024

In the fourth iteration of EPAM's report, we surveyed 9,000 retail banking consumers evenly distribu...

White Papers Banking

Navigating the challenges of working with banks

12 June 2023

Banks and FinTechs are increasingly in need of each other. For incumbent banks, especially, the adop...

White Papers Banking

EPAM Continuum: Consumer Banking Report 2022

09 November 2022

EPAAM Continuum has released its third annual consumer banking report. Surveying 26,000 people...

White Papers Banking

How to Choose the Right Core Banking Provider: 5 Key Takeaways

03 March 2022

Market pressure, changing consumer expectations and rapid developments in technology; combined, thes...

There are no Events in this category