Traditional Financial Institutions Partner with Thought Machine to Drive Digital Transformation
Traditional financial institutions are at a crucial juncture in their digital transformation journey. To thrive in the digital era, they must modernize their legacy systems and embrace cloud-native technology. GFT, a global digital transformation company, has joined forces with Thought Machine, a cloud-native banking technology firm, to assist incumbent U.S. banks in this endeavor.
The Race to Deliver Unique Financial Experiences
Historically, traditional banks have been outpaced by their digital competitors. However, traditional banks now have the opportunity to introduce innovative financial experiences that their digital rivals cannot replicate. The key is to modernize legacy infrastructures before competitors gain a competitive advantage.
GFT and Thought Machine: A Powerful Partnership
GFT brings decades of experience and highly skilled delivery teams across the Americas to this partnership. By leveraging Thought Machine’s cloud-native core banking technology, they offer a cost-efficient solution for delivering digital banking and payment solutions to U.S. financial institutions.
The Success of Mox: An Example of Collaboration
The collaboration between GFT and Thought Machine has already proven successful in the development of Mox, the mobile-only digital banking arm of Standard Chartered in Hong Kong. Powered by AWS and Vault Core, Mox has attracted over 400,000 customers and received acclaim for its cloud-native approach.
Paving the Way for Digital Transformation
GFT and Thought Machine are leading the charge in bringing U.S. financial institutions into the digital age. By enabling these institutions to move away from legacy systems and adopt agile, cloud-native solutions, traditional banks can position themselves as pioneers in the evolving financial landscape.
Hot Take: Traditional Banks Embrace Cloud-Native Technology for Digital Success
Traditional banks have recognized the need to embrace cloud-native technology to stay relevant in today’s digital world. Through their partnership, GFT and Thought Machine offer a transformative solution that empowers financial institutions to modernize their operations and deliver innovative financial services. By adopting cloud-native systems, traditional banks can seize the opportunity to lead the industry and secure their position at the forefront of the digital revolution.
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