Thought Machine has become Mastercard's first strategic end-to-end core banking partner, with the pair offering their combined capabilities to financial institutions looking to modernise their technology stacks.
The partners say that Mastercard's global network and digital solutions, combined with Thought Machine's core banking and payments platform, can enable financial firms transition from legacy technologies to cloud-native ones.
Banks, they say, will benefit from more efficiency, lower costs, and the ability to rapidly roll out more integrated, personalised, and customer-centric experiences - from account opening to credit scoring.
Mark Barnett, president, Mastercard Europe, says: “We’re providing leading banks and financial institutions with a comprehensive core banking and card issuing solution that meets tomorrow’s payment needs, and we look forward to scaling our joint capabilities.”