The Integration Library: a growing collection of solutions with best-in-class technology vendors

9
May
,
2022
By:

Bradley Steele, General Manager North America and Global Managing Director Partnerships, Thought Machine

Vault Core is a highly configurable platform which, through industry-standard APIs, easily connects and plugs into an ecosystem of technology vendors, allowing banks to build a best-in-class technology stack. In the past, clients would have had to undergo a comprehensive vendor selection process and build out integrations for each of their selected vendors. A costly and resource-intensive task.

Our Integration Library drastically simplifies this challenge for our clients. It is a curated collection of technology vendor integrations, interoperable with our core banking platform Vault Core, built either by us, or by our best-in-class partners. The library acts like an accelerator, making it both easier and faster to select and build integrations to the other vendors needed around Vault Core.

The Integration Library is available for all new and existing clients, and we will detail some of the benefits these partnerships and integrations bring to our clients running on the Vault platform below.

It complements our existing Product Library, which includes a full array of financial products written as smart contracts. The Product Library contains financial products for accounts, cards, mortgages, loans, and more – ready for deployment or modification by our clients, before they go live.

Our strategy

We select our partners from multiple banking and fintech domains, providing our clients with a wide set of documented integrations. Currently we have over twenty integrations built and ready to use across a range of use cases, along with several in build.

These integrations de-risk and accelerate the implementation of Vault Core for clients, making it quicker and easier to stand up a full technology stack around their bank.

Our API-driven architecture makes these integrations simple – allowing the solutions to seamlessly plug into Vault Core.

Included in the library

All integrations are supported with documentation and testing to give our clients full confidence that their chosen solution will connect seamlessly with Vault Core, accelerating build time and reducing the cost of integration.

The integrations are built by either our own in-house team of experts or our technology and consulting partners. In all cases, we validate and approve the integration before shipping.

Benefits to clients

Clients see a significant increase in speed to market – underpinned by pre-built, pre-tested, and fully-documented solutions – removing much of the overhead associated with selecting and plugging-in third-party technology into an existing core system.

We work with best-in-business vendors in four categories – Moving Money, Data & Risk, Customer Interaction and Customer Knowledge. Our team actively scours the fintech and banking technology ecosystem and we are in conversation with the leading players in every fintech sector from KYC, FX, risk, onboarding, crypto, and beyond. We partner only with vendors we believe are the right fit for our core banking system, who share the same culture of technology excellence, and will deliver material value to our clients.

When they choose to integrate solutions from our Integration Library, our clients benefit from the resources and effort our team has invested into each solution. With every solution tested and validated, clients have full confidence in the vendor technologies they select, both in their performance and their compatibility with Vault Core.

Partners and their technologies

The Integration Library consists of 20+ partners covering a large breadth of the fintech and banking ecosystem. The library is constantly evolving and expanding – and over time we will offer a complete ecosystem of solutions with regional coverage in all domains.

Thought Machine Integration library

Backbase: Rapidly delivers unparalleled experiences to customers across the full spectrum of digital interactions

Big Query: Seamless, fast delivery of data analysis via a serverless warehouse

Clari5: Enterprise-wide real-time, cross-channel financial crime detection capability

Connect Earth: Powerful carbon emission tracking and offsetting software

Currencycloud: Delivers an affordable, transparent multi-currency banking and cross-border payments experience

Exate: Securely delivers smart data privacy and protection between APIs

Ezbob: Transforms customer acquisition and onboarding into a fully automated digital process that delivers fast, accurate results

Feedzai: Detects financial crime across all channels, geographies and payment types, exceeding customer expectations for trust, safety, and fairness

Formpipe: Transforms document management and statement generation, ensuring a quick and seamless customer journey

Metaco: Enables secure, compliant and scalable digital asset custody and trading for retail, private and universal banks

Moneythor: Delivers enhanced, actionable insights to drive personalised, digital engagements

MongoDB: Offers a fully managed cloud database for modern applications

Salt Edge: Comply with any open banking regulation in the world Salt Edge’s one-stop shop

SunTec: Delivers pricing & product bundle propositions, helping banks and end customers save money

Tink: Increase customer engagement with actionable insights unlocked through the potential of open banking and a real-time core  

Trade Ledger: Drives strategic benefits across the entire commercial lending operation, delivering loan book growth, operational efficiencies and more

Wise: Streamlines international payments, offering end customers equitable, real time transaction and conversion fees

Zoral Creates a seamless omni-channel customer experience that harnesses automation and delivers tangible digital transformation.  

Accessing the library

Throughout our sales and delivery process, we explore options with clients to expand their stack using our library of integrations. Our trained partners can also offer guidance on what the most appropriate integrations are, and how to integrate them to build out a client’s banking stack. For existing partners and clients, we have our Enablement Portal, which contains a full listing of available integrations, along with guides and documentation. For potential partners and clients, please reach out to us and we can provide further information.

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