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09 May 2022Cloud Core BankingAcademyIntroduction of Thought Machine
Cloud Core Banking Academy – Webinar Series15 December 2021:How new cloud based core banking systems can help to reduce timeto-market for new banking product?9 May 2022:Introduction of Thought Machine31 May 2022:Introduction of MambuJune 2022:Introduction of Temenos2 Deloitte Consulting S.A. 2022
Digital Banking at DeloitteDeloitte is recognized as a leader in the Global Banking consulting market. Our clients benefit from this expertise both in terms of resource deploymentand subject matter expertise challenge & insight. Our DBS Team based in Warsaw together with local Deloitte firms supports clients globally.The banking practiceDeloitte has extensive experience in banking globally, with techexperience 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 intechnological consulting with Digital Strategy, Design, Build, and Launch.BANKINGPROFESSIONALSDBS TEAM INWARSAWDELOITTEGLOBAL FOOTPRINTKBC77.000 Digital Banking Solutions Team in WarsawOur Warsaw office gathers 200 core banking professionals.Core banking transformation specialists: business analysts,functional analysts, technical consultants and developers Globalreach with strong local expertise Skilled resources with over 10years of experience banking.3 Deloitte Consulting S.A. 2022200 150 340K
ellMariaAmicoSenior Manager, DigitalBanking SolutionsManager, Digital BankingSolutionsSenior Partner Manager,Global Delivery PartnersSales Director, tmachine.net4 Deloitte Consulting S.A. 2022
Thought Machine
The future of financial ore6Migration ofworkloads tothe cloudData andanalytics edarchitectures
A modern core banking platform in the cloudThe Vault platform gives our clients full control to do, and build, anything they want. Wedesigned the system from scratch to give our clients total choice, flexibility and cosystemQuick time tomarketScalabilityFreedom ofcloud choiceEfficiency &cost control
Vault’s unique benefits for banksControl to deliverthe bank’s chosenstrategyFreedom fromvendor dependencyto act at speedBenefits of trulycloud nativetechnology8Banks can build upon pre-configured smart contracts, select from smartcontracts available in the Product Library or can write smart contracts fromscratch. With all approaches, the bank has total control over the product,without reliance on the vendor (Thought Machine) – game changing in coretechnologyUnlike with other core banking platforms, the bank has no reliance on ThoughtMachine for designing and launching products. Our customers have completecontrol, and thus can act faster, launch quickly, and react to changing marketconditions or new opportunitiesBy building our software for the cloud, as opposed to on-premise hardware, thebank benefits from the unique features of cloud infrastructure. Our softwarescales horizontally, has disaster recovery built-in, and is highly available. Ourmicroservices architecture ensures high levels of operational resilience
2 Vault Core overview
Vault is a real-time, cloud native and cloud agnostic core banking platformbased on Smart Contracts, built from the ground up by Thought Machine,with the aim of releasing banks from the silos of traditional systems.Vault architectureCustomers channelsMoving moneyBank ops andcall centreCardsschemes bs andgatewaysBank API GatewayVisaMasterCardInstantACHRTGSSwiftVault AppsLoanoriginationand servicingFX and cryptopayments(optional)PostingsData and RiskCRMRisk andcomplianceOpen banking/aggregationUniversal Product EngineRegulationand rData lake ernaldata data reposVault CoreStreamingCustomer ightsMandatory VaultOptional VaultProvided by Bank or third-partyVendor
Universal Product Engine: product flexibilityVault Core provides banks with unique flexibility and control in the design and build of new financial products through smartcontracts. Any financial product can be manufactured, from new innovative products to replicating back book products fora migrationWith complete configurability, banks can create any financial productMany innovative financial products havebeen built using smart contracts, e.g.:Smart contractsSmart contracts enable banks to use simplePython code to build a financial product. Thisgives banks full control over product logicReplicate anyback bookproductBuild newinnovativeproductsAll financial product creation is extracted away from the platform – anyfinancial product can be built and iterated entirely through the writing ofsmart contracts – no platform code is modified and banks have no relianceon Thought Machine for product changes11Buy now pay later;convert purchase to loansBanking-as-a-serviceOffset mortgages
3 Clients and companyBusiness agility and capabilities
Clients in the Public Domain13
Mox by Standard CharteredOne credit card for multiple products coupled with an intuitive channel experienceCurrent &SavingsAccountCredit CardLendingAccounts14Note: illustrative exampleForexAccountsLoyaltyPoints
JPMorgan ChaseTier 1: USMoving the retail bank's core system to the cloud to continue delivering a world-class service01America’s largest bank, 3.7 trillion of assetsWanted a truly cloudnative core; bring moreproducts to customersfaster.02Needed to run manyconsumer products ona single platform.1503Required a coresystem with highavailability, resilient,reliability andscalability – to servethe bank’s 57 millionactive digitalcustomers.04Run the retail bank inreal-time.05Leverage API openarchitecture; movetowards embeddedbanking and extendinto non-Case userexperiences.
ING Bank PolandTier 1: Polish BankThe bank has gone live with Vault to further enhance customer experience01Serves 4.3m retailclients and 509kcorporate clients16Note: Illustrative Example.Bank already live onVault; new personalloan product.02First Polish customer.03Vault selected tomodernise systems,launch new productsand transformcustomer experience.
Al Rajhi Bank MalaysiaSubsidiary of the world’s largest Islamic bank is using Vault Core to build a state-of-the-artdigital bank in Malaysia01Subsidiary of world’slargest Islamic Bank17Launching new digitalbank; sophisticatedretail and SMEproducts.02Leveraging Vault’sflexible productcapabilities.03Full suite of Shariahcompliant products.
Our company500 employees spread across fiveregional sites: our Londonheadquarters, and our offices inNew York, Singapore, Sydneyand Melbourne.Founded2014We use the latest engineeringprinciples and deep cloudtechnology to design, build anddeliver our products.A team of world-class engineers,experts in financial services andapplication delivery.Employees500 New YorkLondonSingapore60%Engineers40%Banking &FinanceMelbourneSydney 340mtotal funding raisedTM Locations18
Questions & answers
Our key advantage? The unique skill setW H AT W E D OOur CoE provides services to the FSI industrycovering the full lifecycle of bankingtransformation around Thought Machine Vaultplatform.30ACCELERATORSThoughtMachine’s VaultReady to use adapter (integration) with Alpha platformExperts(open banking platform)Our expertise covers all types of banking:retail, private, corporate, and asset servicing.Example of offered services: Pre-study and transformation supportSystem implementations System integration Migration System maintenanceOur THOUGHT MACHINE20TM Vault workflow generatorMigration acceleratorCore BankingMigrationDelivery accelerators (e.g. test cases, templates andExpertsdelivery processes)Thought Machine - Salesforce integration layer20 Deloitte Consulting S.A. 2022
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Subsidiary of the world's largest Islamic bank is using Vault Core to build a state-of-the-art digital bank in Malaysia Subsidiary of world's largest Islamic Bank Launching new digital bank; sophisticated retail and SME products. Leveraging Vault's flexible product capabilities. Full suite of Shariah-compliant products. 01 02 03
