Vault

Vault, developed by Thought Machine, is a cloud-native core banking and payments platform that offers banks control and flexibility in building and operating financial products and payment schemes. According to the vendor, Vault is designed for use by banks of various sizes, including Tier 1 multinationals, regional banks, and fintech companies. The platform caters to banking professionals, technology professionals in the banking sector, the financial services industry, fintech companies, and payment processors.

Key Features

Cloud native: Vault Core and Vault Payments are purpose-built for the cloud, leveraging cloud features like horizontal scaling, continuous deployment, high availability, and self-healing capabilities, as claimed by the vendor.

Configurability: Vault Core and Vault Payments are designed with an API-first architecture, enabling seamless integration with services and technologies from other vendors. Banks can easily create and configure financial products using smart contracts in Vault Core's configuration layer, with a library of pre-integrated solutions available for quick implementation.

Operational resilience: Vault Core and Vault Payments allow banks to run any product or payment scheme on a single platform, giving them complete control over the entire process, from development and testing to deployment on any cloud infrastructure provider, as stated by the vendor.

Microservices architecture: The Vault platform adopts a microservices architecture, taking full advantage of cloud-native computing. This architecture provides banks with an elastic, highly available, and flexible core banking system that can scale based on demand, according to the vendor.

Trusted by: Vault is trusted and utilized by leading banks worldwide, including JPMorgan Chase, Lloyds Banking Group, ING, Standard Chartered, SEB, and Intesa Sanpaolo, as claimed by the vendor.

Ledger connectivity: Vault Core's real-time Ledger is always accessible, providing banks with real-time streaming of rich data via the Streaming API, according to the vendor. The Ledger supports any bank and any product, offering robust real-time reporting capabilities.

Vault Core APIs: Vault Core exposes all its functionality and data through a comprehensive set of APIs, allowing for unparalleled control and granularity, as claimed by the vendor. These APIs provide real-time access to information in the Ledger, facilitating seamless integration with other best-in-class technology vendors.

Streaming API: The Streaming API provides native support for real-time event streaming using Kafka integration patterns, as stated by the vendor. It covers accounting events, posting balance updates, customer and status changes, and other data mutations on the Ledger.

Migration API: The Migration API, built on Kafka, is optimized for data migration from legacy cores, according to the vendor. It includes performance enhancements, resource batching, validation rule changes, and dependency management.

Posting API: The Posting API manages all financial movements on accounts within Vault Core, performing authorization checks, fund settlement, release of funds, and posting of credits and debits, as claimed by the vendor.