Vault Core

Universal Product Engine

Vault Core’s Universal Product Engine provides unique flexibility and control in the design and build of new financial products by using smart contracts.

Any product can be manufactured, from new innovative products, such as multi-currency accounts or bundled products, to replicating back book products created on legacy platforms.

This enables the safe migration of customers onto Vault Core from legacy platforms without disrupting their existing product set.

Smart contracts

Smart contracts use developer-friendly code to build any financial product. Smart contracts give banks complete control over product logic, providing them with flexibility and power in the design and build of new innovative products and replicating their existing back book.

All financial product creation and changes are abstracted away from the platform via a configuration layer. Any financial product can be built and improved entirely by writing smart contracts – no code in the platform layer is modified, and banks have no reliance on us for product changes.

  • The logic of a financial product in Vault Core is fully encapsulated, transparent, and described in smart contract code
  • Smart contracts are written in developer-friendly code, enabling flexibility of design while exposing common functions via the Contracts API
  • Financial logic is executed automatically at account lifecycle events or at specific times through functions called hooks
  • Logic is driven by parameters, enabling the creation of highly configurable custom products
  • Financial logic can be changed and updated instantly and on demand via API
Product Library

Vault Core comes with a full array of financial products already built.

These include market-standard products such as transaction accounts, savings, loans, mortgages, and credit cards. Vault Core supports Islamic banking and innovative products such as buy-now-pay-later, wallets, offset mortgages, and more.

Vault Core is shipped with a suite of base smart contracts as part of our extensive Product Library offering. These smart contracts are ready for launch and can easily be tailored to the bank's specific needs. The Product Library currently supports more than 30 countries, and new products are continuously added.

  • Fixed-rate mortgage
  • Variable-rate mortgage
  • Home loan
  • Tracker mortgage
  • Balance offset mortgage
  • Interest-only mortgage
  • Repayment mortgage
  • Remortgage
  • Refinance/additional borrowing
  • Home equity loan
  • Portable mortgage
  • Interest-only loan
  • Home extension/improvement loan
  • Fixed-rate home loan
  • Bridging loan
  • Car loan
  • Personal loan
  • Balloon repayment loan
  • Peer-to-peer loan
  • Point-of-sale finance
  • Renovation loan
  • Education/student loan
  • Current account (including overdraft)
  • EU classic bank account
  • Multi-currency account
  • Second chance account
  • Checking account/ Transaction account (DDA)
  • Savings account
  • Easy access saver
  • Money market savings
  • High-yield savings
  • Speciality savings account
  • Time deposit
  • Fixed-term deposit
  • Time deposit account
Revolving credit
  • Credit card
  • Instalment line of credit
  • Charge card
  • Balance transfer credit
  • Revolving line of credit
  • Wallet
  • Mobile wallet
Shariah products
  • Shariah savings account

Banks can simulate the performance of any financial product before it is launched. Simulation allows banks to see the products' future performance over any period.

The behaviour of a smart contract can be simulated to show its behaviour over its lifetime. This enables a bank to have full confidence in the behaviour of a product before they launch it to customers. This simulation is easily accessible as part of the Core API.

Banks can also enhance their customer experience by enabling customers to simulate the performance of the product they are purchasing. For the first time, every customer can see exactly how every product will behave. There is no further need for error-prone and hard-to-maintain illustration tools.

Product SDK

Our simple and easy SDK allows banks to build, test and manage their product portfolio with an excellent developer experience. With this, banks can build, launch, and maintain products faster and at a lower cost than ever.

Our powerful SDK allows banks to write smart contracts, with the bank having full control over the logic of the financial product.

  • Product-as-code: enables the creation of products with any configuration
  • Out-of-the-box library: reusable business rules for product behaviour and pricing that banks can use to accelerate launch

Once built and launched, our SDK allows banks to manage and understand product usage and operations through a simple interface.

  • Create product versions: create multiple versions of a product from a single smart contract (i.e. youth and child savings account)
  • Simple and easy product migration: ‘no code’ migration between different products
  • Manage specific or mass change: simply modify groups of smart contracts via simple operations or scripts
  • Real-time analytics: access to analytics on a specific product or group of products for bank or regulator
Real-time Ledger

Vault Core's real-time Ledger gives banks complete control over data management. There is a strict separation between the configuration of smart contracts and the underlying Ledger. We have built Vault Core to support any bank and any product on a single ledger. All data is transmitted in and out of the Ledger in real time, providing rich data streaming for AI and reporting.

The Universal Product Engine and Ledger support a high degree of banking complexity on a single platform instance. This includes multiple banks, multiple currencies, operations teams, branches, business lines and reporting. It can differentiate between ring-fenced and committed funds.

Our Ledger can slice and dice balances into any structure while giving banks unrestricted visibility, enabling powerful and personalised real-time reporting capabilities. Banks can use AI on this data to personalise propositions for customers.

Transactions are processed in real time, with no batch processing. The Ledger is always available and accessible, and the rich data is streamed out via our Streaming API.

Banks can use the Ledger to manage sophisticated lines of funds in any asset or denomination. They can manage anything from international currencies to securities and reward points.

Our Ledger offers a flexible approach to back-book migration, making the process more efficient, faster, and less prone to errors. It also allows for the ingestion of historical customer and ledger data.

Ledger connectivity

Our real-time Ledger is always available and accessible, and the rich data is streamed out via our Streaming API. The Ledger is built to support any bank and any product and has powerful real-time reporting capabilities.

Vault Core APIs

All of Vault Core's functionality and data are exposed through a standard set of APIs enabling unparalleled levels of control and granularity, real-time access to information in the Ledger, and ease of integration with other best-in-class technology vendors.

Streaming API
  • Native support for real-time events streamed using Kafka integration patterns, including accounting events, posting balance updates, customer and status changes, and any other data mutation on the Ledger
Migration API
  • Kafka-based API that is optimised for the migration of data from legacy cores, including performance improvements, resource batching, validation rule changes, and dependency management
Posting API
  • Responsible for managing all financial movements on accounts held within Vault Core: authorisation check on accounts, settlement of funds on accounts, the release of funds, and the posting of credits and debits to Vault Core
Core API
  • REST APIs to integrate with external applications such as channels, CRM, bank operator UI, and product catalogue
Hosting options

We are famous for having the best cloud computing expertise in financial services.

We deeply understand best practices in cloud technology and are committed to giving our customers total choice and flexibility as they move to the cloud.

Vault Core was built from scratch as cloud-native technology and can be deployed in the cloud provider of the bank's choice. This enables us to give banks total flexibility to choose the model that best meets their needs.

We are the only truly cloud-native core banking provider that offers any deployment option, including software as a service, bank-hosted in public and private cloud, and hybrid deployment.

  • SaaS
    Our fully managed SaaS deployment of Vault Core removes most of the administration overheads associated with managing cloud infrastructure. Deploying Vault Core as SaaS is a popular choice for agile banks and fintechs.
  • Bank-hosted
    Vault Core can be deployed by the bank in public, private, and hybrid environments.

    Public cloud deployments are supported on Azure, AWS, GCP and IBM, and banks can easily add other cloud providers. Hybrid cloud deployments allow sensitive data to remain within a private cloud while the rest of the solution is hosted on a public cloud.

    Private cloud deployments are possible using Red Hat OpenShift with AWS Outposts, Azure Stack, or Google Anthos.
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