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About the bank:
The New York City-based bank, with over $3 trillion in assets and operations across 100+ global markets, has embarked on a mission to re-platform its entire retail banking operations away from legacy, in-house, mainframe technology and onto a cloud-native core platform that offers high availability, resiliency, reliability and scalability.
The goal is to ultimately serve the bank’s 57 million active digital customers - all from one core.
Project overview:
- The bank has built a new greenfield digital bank in the UK that offers innovative cashback and rewards programs, seen as a market differentiator at launch
- Leveraging Vault Core’s real-time event-driven architecture, the bank next launched a new BNPL product on Vault Core’s real-time event-driven architecture,
the product initially targets a US customer base of more than 30 million, allowing customers to split eligible debit card purchases between specific amounts into multiple payments
Deployment approach:
- International expansion: digital greenfield—built new technology stack, new customer propositions and new customers
- US: coexistence—integrating Vault Core to coexist within the current stack to offer new products and experiences in advance of a broader migration effort