Danish digital bank Lunar taps Thought Machine for Vault core banking solution
Danish neobank Lunar has selected Thought Machine’s new core banking solution Vault as it looks to modernise its existing core systems as well as introduce new services and customer offerings.
Thought Machine raised $200m in a Series C round in November
The Vault Universal Product Engine will unify existing functionality, workflows and accounts, as well as entirely new products, on a single platform.
Lunar says this flexibility is key to its strategy of scaling its offering as it expands throughout the Nordic region.
The core banking system’s suite of microservices will mean Lunar can modify its services along local lines, using data analytics to refine its product offering specifically to different markets.
Lunar CEO and founder Ken Villum Klausen says Vault’s flexibility “will enable us to build targeted products and streamline workflows as we scale”.
Lunar says it is building the “go-to app” for banking, payments and investments for consumers and SMEs in the Nordic region.
Last year, Lunar acquired Lendify, a Swedish lending and savings platform, and full-stack payments platform Paylike.
Thought Machine CEO and founder Paul Taylor says Lunar’s open, modern banking architecture and sophisticated user experience will “create the region’s most comprehensive financial powerhouse”.
In July, Lunar secured €210 million in a Series D funding round.
