Thought Machine has become Mastercard’s first strategic end-to-end core banking partner, collaborating to offer their combined capabilities to financial institutions aiming to modernize their technology stacks.
The partners assert that Mastercard’s global network and digital solutions, when paired with Thought Machine’s core banking and payments platform, will facilitate the transition of financial firms from legacy technologies to cloud-native systems.
Banks can expect increased efficiency, reduced costs, and the ability to quickly implement more integrated, personalized, and customer-centric experiences—ranging from account opening to credit scoring.
Mark Barnett, president of Mastercard Europe, stated, “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.”