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Lloyds invests in cloud-based core banking startup Thought Machine

Lloyds invests in cloud-based core banking startup Thought Machine

November 7, 2018

Via: Finextra
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Set up by a gaggle of former Google engineers, Thought Machine has spent the last few years trying to solve one of the biggest problems in banking: how to replace the decades old legacy core systems which hamper the delivery of new customer-facing digital services.

The firm’s answer is Vault, a cloud-native modern alternative that comes with a full suite of retail banking products that are implemented via a system of smart contracts and has cryptographic ledgers for watertight security.

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