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CORE BANKING

TransferGo to select Thought Machine for driving global expansion

TransferGo, Thought Machine | February 12, 2021

TransferGo, a money transfer company, announced a partnership with a cloud-native core banking technology company, Thought Machine. The partnership aims to propel its drive global expansion into markets and continuous product innovation. By taking benefit of Thought Machine's next group cloud-native core banking platform Vault, TransferGo will emphasize empowering its client experience through more and better progressive platform competencies.

Structuring on a fruitful 2020, throughout which TransferGo challenged market prospects to see international payments raise by over 60%, Vault will be a dire constituent for continued development. By holding payment services that are extremely scalable, stretchy, safe, and reckless in the cloud, Vault will authorize TransferGo to enlarge its real-time expenditures platform, shape products fast, and release upcoming card and account competencies without interruption.

Prominently, Vault covers no inheritance technology and so allows TransferGo to shape and bring payment services to its correct requirements. The know-how will provision TransferGo's assignment to unceasingly drive development to its numerical payments facility and the client capability for the migrant employee community, serving them to transfer their money around the world rapidly, securely, and as cost-effectively as possible.

This announcement echoes the sustained venture TransferGo is making in its award-winning payments platform. With over 2 million operators and safeguarding over $14 million in savings last year, it is dedicated to increasing its global footmark and initiate new facilities on its international payments platform. TransferGo also lately joined with Mastercard and Visa and boosted its senior management team through the hires of Francesco Fulcoli as Chief Compliance Officer and Edgardo Savoy as Chief Technology Officer and. These new growths will superpower its roadmap of technology innovation

About TransferGo
TransferGo, founded in 2012, has recognized itself as one of the maximum reliable money transfer facilities around the world. Its emphasis on bringing fast and reliable remittances has directed it to develop the only Pan-European money transfer business that can assure a person's money will reach its destination in less than 30 minutes.

CEO and founder, Daumantas Dvilinskas, was included in the Forbes 30 under 30 of 2017. The company was also nominated for "Fastest Rising Startup of the Year" and listed by TNW as one of five hottest UK start-ups in 2019.

About Thought Machine
Founded in 2014, Thought Machine has the mission to make banks organize modern systems. Also, move them away from the traditional IT platforms that make the banking industry standstill. We do this through Vault, our cloud-native core banking platform. This next-generation scheme has been written from nothing as a fully cloud-native platform. It does not cover a single line of code which is pre-cloud.

The company was founded by Paul Taylor, a well-known entrepreneur. Customers of Thought Machine include SEB, Lloyds Banking Group, Standard Chartered, Monese, Curve, and Atom bank. We are presently a group of more than 450 people with offices in Singapore, London, Melbourne, Sydney, and New York. We have also raised funding OF more than £110m from Draper Esprit, Eurazeo, SEB, IQ Capital, Playfair Capital, British Patient Capital, Lloyds Banking Group, Nyca Partners, and Backed.

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