Mexican fintech start-up Trafalgar, which aims to provide financial services for SMEs, has partnered with Thought Machine to leverage its core banking technology.
In brief:
-Marking its first foray into Mexico, Thought Machine claims that by utilising its core banking platform Vault Core, Trafalgar will become Mexico’s first fintech deployed on cloud-native core banking technology.
-Founded in 2021 and based in Mexico City, Trafalgar will focus on serving the country’s SME sector, which it claims receives “limited” support from legacy banks.
-With plans to launch its new platform in Q2 2024, Trafalgar aims to further use Thought Machine’s core to develop additional financial services, including virtual cards, point-of-sale (POS) systems, and digital authentication, among others.
What does this mean?
“Our vision is to combine the agility and innovation of fintech with the reach and impact of traditional banks to create the industry’s first turbofintech,” he says. “This, in turn, will allow us to transform the financial experience for SMEs in Mexico.”
