FinTech Alliance company Thought Machine has been selected by Nordic FinTech Lunar to “modernise” its banking system.
Lunar aims to be the “go-to” app for banking, payments and investments in the Nordic region, and recently raised €210mn Series D.
Thought Machine’s core banking engine, Vault, will be used by the FinTech.
Vault’s Universal Product Engine will enable existing functionality, workflows and accounts to me migrated, and new products to be built.
What does this mean?
While Thought Machine famously transforms the core banking of traditional organisations to help them keep up with FinTechs, its Vault system also enables the building of new banks (like Standard Chartered’s virtual Mox bank) – and now the modernising of already modern FinTechs.
Lunar says working with Thought Machine will enable it to scale across the Nordic region and is flexible enough to help it deliver on its product roadmap.