Manila, Philippines:
UnionDigital Bank, the digital banking subsidiary of Union Bank of the Philippines, at this time pronounces its partnership with cloud-native banking expertise firm Thought Machine and has deployed its core banking engine, Vault Core.
Thought Machine’s next-generation core expertise has enabled UnionDigital Bank to swiftly construct its merchandise whereas providing flexibility, management, and ease of integration with different expertise methods.
Vault Core’s distinctive product-building framework has been instrumental for UnionDigital to construct, modify, and launch modern new merchandise. Vault Core is absolutely API-enabled and operates in real-time, permitting UnionDigital Bank to have an up-to-date, correct view of buyer and ledger positions.
“We are delighted to be working with UnionDigital Bank – a pacesetter and pioneer within the area and an thrilling, high-potential initiative from the Union Bank of Philippines. With our expertise, we glance ahead to seeing this new digital financial institution blossom and achieve market share,” mentioned Nick Wilde, MD for Asia Pacific, Thought Machine.
“We put innovation on the coronary heart of every part we do at UnionDigital Bank. It made sense to companion with Thought Machine, as they share the identical ardour for driving important transformation by way of the facility of state-of-the-art expertise,” mentioned Arvie de Vera, Co-founder, President, & CEO, UnionDigital Bank.
UnionDigital Bank’s mission is to empower the nation’s digital economy by making digital banking protected and accessible to all. The partnership with Thought Machine accelerates this imaginative and prescient, making it one step forward in reaching a Tech’d Up Philippines.
“Thought Machine’s next-generation core banking platform, Vault Core, is a key differentiator for UnionDigital Bank and enables a great foundation for the future of financial services,” mentioned Pieter Franken, Chief Transformation and Technology Officer, UnionDigital Bank.
“At UnionDigital Bank, we are extremely excited with this future and its limitless possibilities it offers us. Thought Machine helped us draw this path further, by building a powerful digital bank in world record time that will serve and at the same time empower underserved communities to access financial services that they deserve,” added Franken.
The UnionDigital Bank app is now dwell for a restricted set of consumers, accessible by invitation solely. Future updates on the launch will probably be accessible by way of the digital financial institution’s social media channels on LinkedIn,Twitter, and Facebook.
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About UnionDigital Bank
UnionDigital Bank is a Bangko Sentral ng Pilipinas (BSP) licensed digital financial institution, an entirely owned subsidiary of the UnionBank of the Philippines. It permits Filipino communities, companies, and regulators to leverage FinTech, Blockchain, and Open Finance applied sciences to obtain inclusive prosperity.
UnionDigital Bank is primed to pave the best way for the way forward for finance and for the democratization of entry to digital banking and digital belongings, empowering the lives of Filipino communities. Learn extra at www.uniondigitalbank.io.
About Thought Machine
Thought Machine has developed the foundations of contemporary banking with its cloud-native core banking and funds expertise. Its cloud-native core banking engine, Vault Core, is trusted by main banks and monetary establishments worldwide, together with Intesa Sanpaolo, ING Bank Śląski, Lloyds Banking Group, Standard Chartered, SEB, Lunar, Atom financial institution, Curve, and extra.
The Vault platform has been written from scratch as a completely cloud-native system and provides banks full management to construct any product required to flourish in a quickly altering world.
Thought Machine is at present a group of greater than 500 folks unfold throughout places of work in London, New York, Singapore, Sydney, and Melbourne and has raised greater than $500m in funding.
For extra data, go to thoughtmachine.internet
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