Bpifrance uses Thought Machine technology to renovate its core banking system

PARIS–( BUSINESS WIRE )–Bpifrance teams up with Thought Machine and integrates their new generation tool: Vault, a built-in cloud platform offering a range of banking services. This solution will enable Bpifrance to improve the agility and speed of the digital process and the roll-out of products intended to support French companies.

The choice of Vault from Bpifrance aims to enable business teams to accelerate the implementation of online banking products by reducing complexity and delays in delivering digital solutions. Now equipped with a composable architecture that is naturally located in the cloud, Bpifrance frees its IT system from its historical dependencies and makes it both modular and decoupled, allowing it to significantly reduce project deadlines and thus strengthen the performance of its teams. service of French entrepreneurs.

The Vault solution consists of a new “core banking system”, devoid of the usual monolithic approaches that make a computer software package a heavy and complex object to install and then integrate into a rich computer system with more than eighty years of history.

Vault is positioned as a configurable computing core in the form of smart contracts that can be easily connected to other Bpifrance technological blocks and to the best solutions on the market in a “plug and play” logic. It thus provides the opportunity to rapidly configure the life cycle of a new financial product and to digitize paths in a short period of time.

Taking advantage of an “events” exchange infrastructure, Bpifrance accelerates real-time interactions in its IT system and brings its technological platform to a new level of performance.

Arnaud Caudoux, Deputy Managing Director of Bpifrance in charge of finance, risks, information systems and guarantee: “Bpifrance wants to take advantage of its network, its experience and its missions to always offer its customers, online as well as – securely with its account managers, the best financing – and support experience With Thought Machine, we are investing in a new cloud-native “core banking system” that operates entirely in event-driven logic and in real-time, perfectly aligned with our architectural choices and capable of enabling us to achieve our ambitions. .. and to “serve the future”.

Paul Taylor, CEO of Thought Machine says: “Working with Bpifrance is a special moment for us. Using Vault core banking software, Bpifrance is modernizing the way financial services are delivered to businesses of all sizes. We share Bpifrance’s vision to deliver the next generation financial services and are particularly excited about the bank’s growth ambitions in the coming years.”

ENDS

About Bpifrance

Bpifrance finances companies – at every stage of their development – ​​with loans, guarantees and equity. Bpifrance supports them in their innovation projects and internationally. Bpifrance also secures their export activity through a wide range of products. Counseling, university, networking and acceleration programs for start-ups, SMEs and ETIs are also part of the offer for entrepreneurs.

Thanks to Bpifrance and its 50 regional locations, entrepreneurs benefit from a close, unique and effective interlocutor to support them in meeting their challenges.

More information at: www.bpifrance.fr

Follow us on Twitter : @Bpifrance @BpifrancePresse

About the Thought Machine

Thought Machine’s client list includes Lloyds Banking Group, Standard Chartered Bank, Al Rajhi Bank Malaysia, Intesa Sanpaolo, Lunar and Atom Bank worldwide. The company has raised over $500 million in funding and is headquartered in London with regional headquarters in Singapore, New York and Sydney.

contacts

Press contacts
Bpifrance
Sophie Santandrea

Sophie.santandrea@bpifrance.fr

Thinking machine
press@thoughtmachine.net

Source: http://www.businesswire.com/news/home/202212150050…

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