Bpifrance taps Thought Machine for Vault Core banking platform
French public investment bank Bpifrance has tapped core banking vendor Thought Machine for its cloud-native core banking platform Vault Core, as it looks to upgrade its financial services offering to businesses.
Bpifrance is the first French bank to deploy Thought Machine’s Vault Core
Bpifrance finances companies with credit, guarantees and equity, supporting them in their innovation, international projects and their export activity with a wide range of products.
Bpifrance is the first bank in France to deploy Thought Machine’s Vault Core platform, as it looks to cement its ongoing digital transformation, allowing it to scale both its product offering and customer numbers.
Vault Core’s Universal Product Engine increases the bank’s go-to-market speed, boosting the development and launch of new products and “allowing the bank to operate at five times its previous pace”. Bpifrance’s first product on Vault Core, a two-year commercial loan, is now live.
Thought Machine CEO Paul Taylor says: “Running on Vault Core, Bpifrance is modernising how financial services are delivered to businesses of all sizes.”
Arnaud Caudoux, deputy CEO at Bpifrance in charge of finance, risks, information systems and guarantee, says Thought Machine’s Vault Core allows Bpifrance “to offer French companies the best financing and support, both online and with business managers”.
“With Thought Machine, we have chosen a cloud-native core banking system, operating entirely in event-driven logic and in real-time, perfectly aligned with our architectural choices and allowing us to achieve our ambitions.”
