HMBradley partners with Thought Machine to transform the future of banking


Thought Machine Press Office

HMBradley, a financial technology platform built to reward savers, today announced a strategic partnership with Thought Machine, a leading provider of banking technology. The partnership enables HMBradley to eliminate its waitlist and open new accounts for the first time in over 16 months. HMBradley has also partnered with New York Community Bank ("NYCB"), a division of Flagstar Bank, which will maintain the customer deposit accounts.

HMBradley adopted Thought Machine’s highly configurable cloud-native core banking platform Vault Core, which when combined with NYCB’s scale, expertise, and reputation, allows HMBradley to offer all of its current and prospective customers a more personalised and efficient banking experience.  

"We are excited to partner with NYCB and Thought Machine to bring the best of both worlds to our customers,” said Zach Bruhnke, CEO and Co-founder of HMBradley. “With Thought Machine's cutting-edge technology, we can quickly create and build the products we’ve imagined, and with NYCB's long-standing reputation as a stable and successful financial institution, we can exceed customer expectations at scale. This will result in an unparalleled customer experience with more personalised tools and benefits for our customers.”

Thought Machine has enabled HMBradley to transition from overnight batch transaction processing to real-time ledger capabilities. This represents a significant milestone in the evolution of the HMBradley products, as it opens up a world of possibilities for delivering more innovative features, better financial insight, and faster time to market with new product and service offerings.

With Thought Machine's technology, HMBradley can respond to market demands in real time. The event-driven architecture that underpins the platform enables HMBradley to overhaul the experience for action-driven and personalised products for customers. Thought Machine’s smart contracts capabilities allow HMBradley to seamlessly build and deploy a full range of products tailored to each individual’s needs.

For HMBradley customers, the benefits are clear. With more innovative features, they can take advantage of new services that were previously not available. With better financial insight, customers can make more informed decisions about their money.

“We are thrilled to partner with HMBradley to create a long-lasting impact on the banking industry,” said Paul Taylor, CEO of Thought Machine. “By running on Vault Core, HMBradley will undoubtedly grow and improve its service in ways customers never imagined. We look forward to supporting HMBradley as it bakes power and efficiency into its operations and rolls out innovative new features with speed.”

HMBradley also announced that its customers will have the opportunity to set their annual percentage yield (“APY”) on their accounts each month based on their savings and spending habits, a tactic HMBradley pioneered. By rewarding savers for sound financial management, the company has been able to grow deposits significantly faster than most fintech and financial institutions.

Now, to ensure that every account holder benefits from an industry-best return, HMBradley simplified the experience in how customers achieve the different APY levels that it offers to customers. Additionally, customers will be able to earn interest on balances up to $250,000, up from $100,000 previously. This allows for exceptional flexibility in savings rate management. The new program devised by HMBradley was made possible through its partnerships with both Thought Machine and NYCB.

“NYCB is excited to be a part of this next phase of HMBradley’s customer experience evolution,” said Douglas Pagliaro, Senior Managing Director and Deputy Chief Digital and Banking as a Service Officer at NYCB. “This partnership aligns with our strategy of working with best-in-class innovators and helps NYCB broaden its banking as a service distribution channel.”

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