Data-driven business lending capabilities integrated into core banking platform give faster solutions for commercial lenders
LONDON, 22 September 2022: Trade Ledger, the data-driven lending technology provider, has partnered with Thought Machine, the cloud-native banking technology company and developer of core banking engine Vault Core, to provide a fully integrated technology stack for commercial lenders and banks.
API-driven data exchange between the two companies will enable banks using Thought Machine to add Trade Ledger’s loan origination and management capabilities, transforming the customer experience and streamlining lending operations. As a result, they will gain a significant competitive advantage by being able to offer their business customers quicker, easier applications for working capital finance and other business lending solutions, with fast initial drawdown, via Thought Machine’s Integration Library.
The world’s top banks have adopted the Vault platform as the foundation layer of their technology stack, including JPMorgan Chase and Standard Chartered. Vault Core enables banks to rapidly build any product they wish, giving complete control and ease of integration with other bank systems and partner offerings – and this now includes the Trade Ledger lending platform. With the Trade Ledger integration, banks can now rapidly configure and launch new products such as secured loans, invoice and asset finance, with ease and control.
Shivani Jaswal, Partner Manager at Thought Machine said: “Introducing Trade Ledger to our expanding and evolving Integration Library allows banks to add commercial lending products with super-fast origination, automated data ingestion and implementation of risk policies for decision support. We are excited to be adding Trade Ledger to our Integration Library – expanding the pool of market-leading offerings available to our client banks around the world.”
Alan Walsh, Head of Partnerships at Trade Ledger added: “Through the Trade Ledger integration, banks running Vault Core can access a range of solutions that underpin a commercial lending offering. These include origination and customer engagement; risk assessment and collateral management; facility management and loan structuring; and relationship and portfolio management. Thought Machine’s rich set of APIs lets banks use best-in-class provision from an ecosystem of integrated technology, which now includes Trade Ledger’s lending platform.”
Martin McCann, CEO and co-founder of Trade Ledger concluded: “Our partnership with Thought Machine demonstrates the value that the Trade Ledger platform is giving commercial lenders at a time when access to business finance could be highly influential on long-term customer retention. The ease with which the Trade Ledger capabilities can be integrated into the Thought Machine platform means banks can increase their competitive advantage in building new working capital offerings that are fit for purpose in the current challenging economy.”
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 engine, Vault Core, is trusted by leading banks and financial institutions around the world including JPMorgan Chase, Intesa Sanpaolo, ING Bank Śląski, Lloyds Banking Group, Standard Chartered, SEB, Lunar, Atom bank, Curve and more.
Vault Payments is a cloud-native payments processing platform – launching first with card processing on the Mastercard network, with full coverage available from 2023.
The Vault platform has been written from scratch as an entirely cloud-native system and gives banks full control to build any product required to flourish in a rapidly changing world.
Thought Machine is currently a team of more than 500 people spread across offices in London, New York, Singapore, Sydney, and Melbourne, and has raised more than $500m in funding.
For more information visit thoughtmachine.net
About Trade Ledger
The lending-as-a-service (LaaS) platform supports all secured and unsecured business lending products, transforming data sources from the supply chain into actionable insights and tasks. This enables the right lending products to be created and offered at the right time, over the right channel, quickly, at low risk. Its clients boost their profitability, realising on average a 60% origination cost reduction, a 50% reduction in dropouts and loan book growth potential of over 100% through embedded finance.
Backed by venture capitalists Point72 Ventures, Foundation Capital and Hambro Perks, and other notable investors such as Court Lorenzini (founder of DocuSign), Trade Ledger is currently scaling globally to accommodate a fast-growing client base of global trade banks, regional and national banks, and alternative finance providers. To date it has raised £16.6 million.
Trade Ledger was awarded LendTech Initiative of the Year 2020, Lending Platform of the Year 2019, and Startup of the Year 2019.