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. 

Today, this challenge is now drastically simplified with our Integration Library – a curated collection of technology vendor integrations, interoperable with our core banking platform Vault Core, built either by us, or by 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 be detailing below the partners, the integrations, and the benefits this will bring to our clients running the Vault platform.

It complements and joins 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 have selected this first cohort of partners across multiple banking and fintech domains, providing our clients with a wide set of documented integrations. 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 either built by our own in-house team of experts, or by our technology and consulting partners – and are always validated and approved by us before shipping.

Benefits to clients

For clients, we expect 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.

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.

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

Partners and their technologies

As of launch, the Integration Library consists of 11 initial 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 diagram
Thought Machine integration library

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

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

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

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

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

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

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

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 recently launched an 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 will provide further information

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