New York and London (September 28, 2023) -- Traditional banks are at a critical point in their digital trajectories, having amassed significant consumer trust beyond that of digital-first challengers.
Now, global digital transformation company GFT and cloud-native banking technology company Thought Machine are equipping incumbent banks to thrive in the digital era. The two companies are building on their multi-year partnership in the U.S., where they're working with banks to introduce new digital infrastructures. GFT and Thought Machine will continue working together to move banks away from legacy technology and towards truly cloud-native systems.
While traditional banks have historically moved slower than digital challengers for years, they are now beginning to introduce new financial experiences that their digital counterparts cannot offer. However, the banks that can get these experiences to market before their competitors will be those that get a head start in modernizing their underlying legacy infrastructures.
GFT and Thought Machine to Address Banks' Largest Infrastructural Challenges
After spending the past several years laying the groundwork for digitization, U.S. banks and financial institutions are now in the position to begin undergoing large-scale infrastructure transformation. GFT has 35-plus years of experience partnering with global banks on their digital journeys, with highly skilled delivery teams throughout the Americas. Paired with Thought Machine's cloud-native core banking technology, the two companies are uniquely positioned to build and deliver digital banking and payment solutions to U.S. banks more cost-effectively than alternative approaches.
Partnership Offers Three Paths to Digital Transformation
GFT is a leading implementation partner of Thought Machine's Vault Core. Built on truly cloud-native design principles, Vault Core allows banks to define their path for transformation. The technology is pivotal to launching digital-first greenfield banks, offering new technology capabilities that coexist with their existing core system or migrating from legacy to digital architectures.