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Thought Machine Partners with Wise to Bring International Payments to Global Financial Institutions

Thought Machine, the cloud-native core banking technology company, has announced that it has teamed up with international payments technology company Wise, formerly known as TransferWise, by integrating Wise Platform into Thought Machine’s core banking engine, Vault. This will allow any bank, fintech or financial institution using Vault to enable Wise’s fast and low-cost international transfers service more quickly and efficiently.

The two companies have combined their technologies and built an integration layer that reduces the developer effort needed for financial institutions to plug into Wise’s API by up to 60%, enabling these institutions to focus on building a convenient user experience that fits seamlessly into their offering. This allows financial institutions using Thought Machine’s core to ensure interoperability across all of their systems and accelerate their implementation and delivery of Wise’s industry-leading payments service to their customers.

Customers in today’s internet-driven world expect faster, cheaper and more transparent multi-currency banking than was previously possible on legacy core banking technology and traditional correspondent banking networks. This partnership brings together two organisations that share a common vision for meaningful, transparent financial services, underpinned by expert engineering. End-customers will access a seamless cross-border payments experiences, under a cost structure that competes with specialist fintechs.

Founded in 2014 by former Google engineer Paul Taylor, Thought Machine’s core banking engine, Vault, enables tier one banks and fintechs to build a truly modern customer experience, free from the constraints of legacy technology. Thought Machine names Lloyds Banking Group, Standard Chartered, Atom bank, Monese, Curve and SEB as clients.

This collaboration follows a period of rapid international expansion for Wise. The company has partnerships with Monzo, N26, Bunq, LHV and BPCE in Europe, Stanford FCU and Novo in the United States, as well as UP in Australia.

Paul Taylor, CEO of Thought Machine, comments: “We have built a world-class financial technology partner ecosystem which our clients can tap into as they build a future-proof bank. The firms we choose to partner with are those that have built meaningful, ultra-reliable products that ultimately improve the banking experience for customers. We look forward to working with Wise to bring its industry-leading payments solution to many more financial institutions, and customers, around the world.”

Stuart Gregory, MD, Wise Platform & Wise Business, comments: “Though the internet has transformed much of the economy, the global banking system has lagged behind and moving money internationally has remained slow, difficult and expensive for most. Our mission is to change this 一 a goal we share with Thought Machine. Our integration today makes it quicker and easier for financial institutions and banks to enable faster and cheaper payments for their customers and brings us one step closer to our mission of building money without borders.”


  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

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