Core banking technology company Thought Machine has partnered with Wise, formerly known as TransferWise.
The Wise Platform will be integrated into Thought Machine’s core banking engine, Vault.
It will help banks and other institutions using Vault to enable faster, lower-cost international transfers.
The companies have built an intergation layer to make this happen.
What does this mean?
At the moment, companies using Thought Machine’s solution to overhaul their core banking technology include Lloyds Banking Group, and Standard Chartered which is using the tech to develop Mox, its virtual bank in Hong Kong.