- DXC Technology (DXC, Financial) and Thought Machine partner to offer a solution accelerating the digital transformation for small and midsize banks.
- The solution integrates DXC's expertise with Thought Machine's Vault Core and Vault Payments, reducing the time to launch new financial products from weeks to hours.
- DXC's robust infrastructure supports 250 million customer deposit accounts and processes 275 million cards daily, enhancing operational efficiency.
DXC Technology (DXC) and Thought Machine have entered into a strategic collaboration to expedite the modernization of small and midsize banks. Leveraging DXC's extensive industry knowledge and management services, along with Thought Machine's innovative cloud-native platforms, Vault Core and Vault Payments, the partnership aims to streamline digital transformation efforts for financial institutions.
This integrated solution offers banks the ability to overhaul outdated systems, launch new financial products such as savings accounts, mortgages, and loans in a mere few hours rather than weeks, and enhance their operational efficiency significantly. DXC brings an impressive track record to the collaboration, managing 250 million customer deposit accounts and processing 275 million cards daily across 475 banks.
The partnership provides a one-stop managed service combining technology and tools to simplify the complexity of banking modernization. This approach not only eliminates scalability barriers but also significantly reduces the time to market for new digital products, positioning banks to improve their competitive edge in the dynamic financial services landscape.
DXC's automation-first methodology combined with Vault Core's highly configurable technology facilitates increased digital product and feature launches without the need for extensive code changes. This collaboration underscores both companies' commitment to leveraging next-generation technology to help banks modernize more rapidly and deliver high-quality financial products.
