Afin Bank, a digital lender aimed at supporting individuals from Africa living and working in the UK, has chosen Thought Machine as its core banking provider.
Recently, Afin received a banking licence with Authorisation with Restrictions, which will enable it to commence lending activities next year. The bank aims to assist people from Africa who encounter challenges in obtaining mortgages due to their nationality, visa status, or lack of credit history in the UK. Additionally, it plans to offer savings products.
Afin has opted for Thought Machine’s cloud-native Vault Core platform, allowing the bank to design a range of personalised and integrated products tailored to its customers’ needs. Monica Velasquez, CTO/O of Afin, stated, “We selected Vault Core for its product excellence. It is cloud-native, highly configurable, and uniquely universal.”