MIAMI, FLA. April 2024 – 2innovate, the global fintech company behind Frame Banking™, announces its strategic partnership with Thought Machine, the cloud-native core banking provider. Under the partnership, Frame Banking™, a SaaS and cloud-native next-gen payment platform that provides institutions with a composable banking architecture for next-generation payment ecosystems, will serve as a payments partner for Thought Machine in Latin America.
This collaboration marks a significant milestone in the digital transformation journey for financial institutions across the region. By combining its cutting-edge core banking platform, Vault Core, with Frame Banking™, financial institutions will have access to a powerful digital banking infrastructure that enables innovation in business models, seamless creation of payment ecosystems, and enhanced operational efficiency through convergence.
“We are thrilled to partner with 2innovate to bring next-generation banking technology to Latin America,” said Randolph McFarlane, global head of partnerships at Thought Machine. “Together, we are empowering banks in the region to unlock new levels of innovation and deliver superior banking experiences to their customers.”
Frame Banking™ serves as the engine powering the entire lifecycle of digital transactions, seamlessly converging multiple payment rails onto a single hub. The platform helps financial institutions to break free from the limitations of legacy systems and operate at the pace of modern transactions across multiple payment rails.
Over the past year, Frame Banking™ has solidified its position as one of the most prominent platforms within the Latin American fintech space, building a fast-growing portfolio of first-level banking clients. This momentum has made it a prime candidate for collaboration with Thought Machine and its Vault Core platform, which uses APIs and smart contracts to help banks in freeing themselves from legacy systems. Thought Machine’s APIs enable Vault Core to integrate effortlessly with Frame Banking™, providing banks with access to any payment rail, method, or scheme. Frame Banking™ gives banks complete control over payment orchestration, allowing unparalleled customization of payment flows.
Both Thought Machine and 2innovate have developed their platforms utilizing cutting-edge cloud-native technologies, establishing a robust foundation built on agility, scalability, and reliability. Beyond these core capabilities, both platforms hold membership in the Banking Industry Architecture Network (BIAN), underscoring their commitment to fostering collaboration and adherence to industry standards within the global banking sector.
“As leaders in the fintech space, our partnership is more than a collaboration; it’s a catalyst for transformation,” said Luis Brennan, Head of Partnerships at 2innovate. “Together, we’re empowering Latin American banks to break free from legacy systems and embrace a future defined by innovation and customer-centricity.”
For more information about Thought Machine and its partnership with 2innovate, please visit www.2innovateit.com
About 2innovate:
2innovate is the global fintech company behind Frame Banking™, a cloud-native SaaS platform that enables financial institutions to operate in next-gen financial ecosystems. Frame Banking™ provides financial institutions with a composable banking architecture that supports next-generation payment ecosystems. By placing the transaction at the center of the financial experience and reducing traditional frictions in payment processes, Frame Banking™ helps financial institutions break free from the limitations of legacy systems and operate at the pace of modern transactions across multiple payment rails. 2innovate was founded in 2016 and currently operates in 12 countries, with offices in Miami, Mexico City, Buenos Aires and Montevideo.
About Thought Machine:
Thought Machine has developed the foundations of modern banking with its cloud-native core banking and payments technology. Its cloud-native core banking platform, Vault Core, is trusted by leading banks and financial institutions worldwide, including Intesa Sanpaolo, ING Bank Śląski, Lloyds Banking Group, Standard Chartered, SEB, Lunar, Atom bank, Curve, and more.
Vault Core and Vault Payments have been written from scratch as entirely cloud-native technologies, giving banks full control to run any bank, product, and payment set to flourish in a rapidly changing world.
Thought Machine is a global team spread across offices in London, New York, Singapore, and Sydney and has raised more than $500m in funding.
For more information, visit www.thoughtmachine.net