TransferGo picks Thought Machine for core operations
Money transfer firm TransferGo has signed a deal with Thought Machine to deploy the latter’s cloud-based Vault core system.
Thought Machine’s vault will sit at the core of TransferGo
Driving TransferGo’s decision to switch up the back office is a need to enhance the customer experience.
The firm says Vault won out as a system with no legacy technology. This allows it to “build and deliver platform services to exact requirements”.
TransferGo is hoping its new core system will help it “continuously drive improvement to its digital payments service”.
Founded in 2012, TransferGo promises users their cross-border payments can complete in less than 30 minutes.
The firm has raised $69.7 million across 13 funding rounds, including a $4 million injection from Silicon Valley Bank late last year. In the middle of 2020 it hired a new chief technology officer (CTO), Edgardo Savoy.
“Our customers are at the heart of every decision we make,” says Justinas Lasevicius, chief financial officer (CFO) and co-founder.
“Through our work with Thought Machine and their intuitive product Vault, we will introduce more enhanced services and drive impactful experiences.”
Thought Machine sits at the heart of several fintech ventures across the world. These include Curve, Monese, Atom Bank, Lloyds Banking Group, and Hong Kong-based Mox Bank.
“By tapping into the power of the cloud, TransferGo will enjoy a host of benefits, including unparalleled scalability, reliability, security and speed,” says Thought Machine founder Paul Taylor.
“They will be unshackled from the constraints of legacy product building, free to focus on providing an exceptional customer service.”
Related: Revolut sets sights on India with remittance service
