TransferGo, London-based money transfer company, announced a partnership with Thought Machine, a cloud native core banking technology company, to propel its ongoing product innovation and drive global expansion into new markets.
TransferGo said that it will focus on enhancing its customer experience through better, more advanced platform capabilities through the selection of Thought Machine’s next generation cloud native core banking platform Vault.
TransferGo reported that it saw its cross-border payments grow by over 60% and that this partnership will help for sustained growth.
Vault will enable TransferGo to expand its real-time payments platform, build products rapidly and release future card and account capabilities without delay.
Vault has no legacy technology and allows TransferGo to build and deliver payment services to its exact requirements.
The technology aims to support TransferGo’s mission to continuously drive improvement to its digital payments service and the customer experience for the migrant worker community.
“Hot off the heels of a $4m investment from Silicon Valley Bank in November, this partnership demonstrates our momentum in investing, innovating and disrupting the global remittance market.
Our customers are at the heart of every decision we make, and through our work with Thought Machine and their intuitive product Vault, we will introduce more enhanced services and drive impactful experiences for our migrant worker community.”
said Justinas Lasevicius, CFO and Co-Founder of TransferGo.
“By tapping into the power of the cloud, TransferGo will enjoy a host of benefits, including unparalleled scalability, reliability, security and speed.
Coupled with Vault’s unique horizontal architecture – they will be unshackled from the constraints of legacy product building – free to focus on providing an exceptional customer service and a world-class remittance service.”
said Paul Taylor, CEO and Founder of Thought Machine.
TransferGo also recently partnered with VISA and Mastercard, and bolstered its senior leadership team through the hires of Edgardo Savoy as Chief Technology Officer and Francesco Fulcoli as Chief Compliance Officer.
Featured image credit: Edited from Unsplash
