Thought Machine, a UK-based core banking technology company, announced a strategic collaboration with Vietnam’s HD Bank for the modernization of HD Bank’s technology infrastructure today.
HD Bank called the recent partnership an important step towards its transformation strategy. The bank aims to reinvent the financial services ecosystem in Vietnam. Moreover, the recent collaboration will ultimately increase financial inclusion across the country.
To achieve its mission, the Vietnamese bank is partnering with some of the world’s leading financial technology companies. According to HD Bank, the strategic collaboration with Thought Machine will increase the adoption of technology in Vietnam’s financial sector.
“We are on a mission to deploy modern technology in HD Bank as we reinvent our systems to deliver material value for our customers. There is a clear need in the Vietnamese market for financial services which are real-time, always-on and forever adapting to the customers’ needs. With Thought Machine, we intend to fill this gap and push digital banking innovation in unexpected ways. We are proud to be joining forces with Thought Machine as they have built a product that is transforming the industry,” Pham Quoc Thanh, the CEO of HD Bank, said.
In the last few years, Thought Machine established several partnerships with prominent global financial services firms, including JPMorgan Chase, Lloyds Banking Group, Intesa Sanpaolo and Standard Chartered. With a total amount of more than $340 million in funds raised, Thought Machine is one of the most valuable fintech companies in the world.
Innovation
Thought Machine is headquartered in London. Furthermore, the fintech company has offices in Singapore, New York and Sydney.
“Our clients are unlocking incredible gains in innovation and efficiency as they combine advanced technology with clear vision. HD Bank joins a rapidly expanding family of clients who can leverage the advanced capabilities and products available with Vault to redefine the future of banking,” Nick Wilde, the Managing Director at Thought Machine APAC, commented.
