Cloud Core Banking Academy - Introduction of Thought Machine
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09 May 2022 Cloud Core Banking Academy Introduction of Thought Machine
Cloud Core Banking Academy – Webinar Series
15 December 2021:
How new cloud based core banking systems can help to reduce time-
to-market for new banking product?
9 May 2022:
Introduction of Thought Machine
31 May 2022:
Introduction of Mambu
June 2022:
Introduction of Temenos
2 | Deloitte Consulting S.A. 2022
Digital Banking at Deloitte
Deloitte is recognized as a leader in the Global Banking consulting market. Our clients benefit from this expertise both in terms of resource deployment
and subject matter expertise challenge & insight. Our DBS Team based in Warsaw together with local Deloitte firms supports clients globally.
The banking practice
Deloitte has extensive experience in banking globally, with tech
experience at more than 400 banks.
We have served the top 20 global banks, the top 25 American banks,
and 3 of the world’s largest payment networks. We are leaders in
technological consulting with Digital Strategy, Design, Build, and Launch.
BANKING DBS TEAM IN DELOITTE
PROFESSIONALS WARSAW GLOBAL FOOTPRINT
KBC
77.000+
200+ 150+ 340K+
Digital Banking Solutions Team in Warsaw
Our Warsaw office gathers 200+ core banking professionals.
Core banking transformation specialists: business analysts,
functional analysts, technical consultants and developers Global
reach with strong local expertise Skilled resources with over 10
years of experience banking.
3 | Deloitte Consulting S.A. 2022
Speakers
Wojciech Radosław Sophie Maria
Wróbel Kawecki McDowell Amico
Senior Manager, Digital Manager, Digital Banking Senior Partner Manager, Sales Director, Thought
Banking Solutions Solutions Global Delivery Partners Machine
wwrobel@deloittece.com rkawecki@deloittece.com smcdowell@thoughtmachi mamico@thoughtmachine
ne.net .net
4 | Deloitte Consulting S.A. 2022
Thought Machine
The future of financial services
Customer Product Migration of Consolidation
centric innovation workloads to
the cloud
Real-time Data and Component/
core analytics orientated microservices-based
architectures
6A modern core banking platform in the cloud
The Vault platform gives our clients full control to do, and build, anything they want. We
designed the system from scratch to give our clients total choice, flexibility and power
01 02 03 04 05 06
Innovative Best-in-class Quick time to Scalability Freedom of Efficiency &
products ecosystem market cloud choice cost control
7Vault’s unique benefits for banks
Banks can build upon pre-configured smart contracts, select from smart
Control to deliver contracts available in the Product Library or can write smart contracts from
the bank’s chosen scratch. With all approaches, the bank has total control over the product,
strategy without reliance on the vendor (Thought Machine) – game changing in core
technology
Unlike with other core banking platforms, the bank has no reliance on Thought
Freedom from
Machine for designing and launching products. Our customers have complete
vendor dependency
control, and thus can act faster, launch quickly, and react to changing market
to act at speed conditions or new opportunities
By building our software for the cloud, as opposed to on-premise hardware, the
Benefits of truly
bank benefits from the unique features of cloud infrastructure. Our software
cloud native
scales horizontally, has disaster recovery built-in, and is highly available. Our
technology microservices architecture ensures high levels of operational resilience
82 Vault Core overview
Vault is a real-time, cloud native and cloud agnostic core banking platform
Vault architecture based on Smart Contracts, built from the ground up by Thought Machine,
with the aim of releasing banks from the silos of traditional systems.
Customers channels Moving money
Cards Visa
Bank ops and
schemes and
call centre MasterCard
processes
Instant
Onboarding/ Payments
digital hubs and ACH
experience Bank API Gateway gateways RTGS
Swift
Loan Vault Apps
origination FX and crypto
(optional) payments
and servicing
Postings
CRM Data and Risk
Risk and
compliance
Open banking/
aggregation Universal Product Engine
Regulation
and financial
reporting
Customer knowledge
Streaming
Core
Credit
bureau Decisioning
Vault Core General
ledger
Customer
ID&V master/CIF
Ledger
Data lake and
External warehouse
data repos KYC/B
Migration Document
Transaction management
monitoring
Collateral
External management
Insights
data repos
Provided by Bank or third-party
Mandatory Vault Optional Vault
10 VendorUniversal Product Engine: product flexibility
Vault Core provides banks with unique flexibility and control in the design and build of new financial products through smart
contracts. Any financial product can be manufactured, from new innovative products to replicating back book products for
a migration
With complete configurability, banks can create any financial product Many innovative financial products have
been built using smart contracts, e.g.:
Smart contracts
Smart contracts enable banks to use simple
Python code to build a financial product. This Buy now pay later;
gives banks full control over product logic convert purchase to loans
Replicate any Build new
Banking-as-a-service
back book innovative
product products
All financial product creation is extracted away from the platform – any Offset mortgages
financial product can be built and iterated entirely through the writing of
smart contracts – no platform code is modified and banks have no reliance
on Thought Machine for product changes
113 Clients and company Business agility and capabilities
Clients in the Public Domain 13
Mox by Standard Chartered
One credit card for multiple products coupled with an intuitive channel experience
Current &
Credit Card Savings
Account
Lending Forex Loyalty
Accounts Accounts Points
14 Note: illustrative exampleJPMorgan Chase Tier 1: US
Moving the retail bank's core system to the cloud to continue delivering a world-class service
01 03 04
America’s largest bank, Wanted a truly cloud Required a core Run the retail bank in
$3.7 trillion of assets native core; bring more system with high real-time.
products to customers availability, resilient,
faster. reliability and
scalability – to serve 05
the bank’s 57 million
active digital Leverage API open
02
customers. architecture; move
Needed to run many towards embedded
consumer products on banking and extend
a single platform. into non-Case user
experiences.
15ING Bank Poland Tier 1: Polish Bank
The bank has gone live with Vault to further enhance customer experience
01 02 03
Serves 4.3m retail Bank already live on First Polish customer. Vault selected to
clients and 509k Vault; new personal modernise systems,
corporate clients loan product. launch new products
and transform
customer experience.
16 Note: Illustrative Example.Al Rajhi Bank Malaysia
Subsidiary of the world’s largest Islamic bank is using Vault Core to build a state-of-the-art
digital bank in Malaysia
01 02 03
Subsidiary of world’s Launching new digital Leveraging Vault’s Full suite of Shariah-
largest Islamic Bank bank; sophisticated flexible product compliant products.
retail and SME capabilities.
products.
17Our company
500 employees spread across five We use the latest engineering A team of world-class engineers,
regional sites: our London principles and deep cloud experts in financial services and
headquarters, and our offices in technology to design, build and application delivery.
New York, Singapore, Sydney deliver our products.
and Melbourne.
Founded Employees
2014 500+ London
New York
Singapore
Sydney
60% 40% Melbourne
Banking &
Engineers
Finance $340m
total funding raised
TM Locations
18Questions & answers
Our key advantage? The unique skill set
Our THOUGHT MACHINE
W H AT W E D O
ACCELERATORS
Our CoE provides services to the FSI industry 30
covering the full lifecycle of banking Thought
transformation around Thought Machine Vault Machine’s Vault Ready to use adapter (integration) with Alpha platform
platform. Experts
(open banking platform)
Our expertise covers all types of banking:
retail, private, corporate, and asset servicing. TM Vault workflow generator
Example of offered services:
• Pre-study and transformation support
20 Migration accelerator
Core Banking
System implementations
• System integration Migration Delivery accelerators (e.g. test cases, templates and
Experts
• Migration delivery processes)
• System maintenance
Thought Machine - Salesforce integration layer
20 | Deloitte Consulting S.A. 2022Thank you.
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