HCLTech, Thought Machine Partner to Accelerate AI, Cloud-led Transformation of Banks

HCLTech has announced a global partnership with Thought Machine to accelerate the modernisation of banks.

The partnership aims to enable banks to rapidly transition from legacy systems and frameworks to intelligent, autonomous financial institutions powered by AI and cloud technologies, HCLTech informed in a press release. 

Thought Machine’s Vault platform, advanced core banking and payments technology, would be at the core of this transformation. 

Banks can automate key operations by replacing outdated infrastructure with Vault’s cloud native architecture, enhance efficiency and deliver personalised customer experiences.

HCLTech would bring its expertise in banking technology, regulatory compliance and complex integrations to support rapid innovation and product launches.

As part of the partnership, HCLTech would offer full-stack transformation services through Vault-certified delivery teams, global fintech Centers of Excellence (CoEs) and a robust DevSecOps foundation. 

The company would also establish a dedicated global CoE for Vault Core and Vault Payments, focused on delivering modular, real-time and scalable solutions for the financial services sector. 

The joint offering will enable banks, whether established institutions or new challengers, to build agile, resilient and future-ready ecosystems rooted in AI-led strategies, the statement said. 

The JV marks a significant step in helping banks break free from legacy constraints and adopt truly digital-first models, said Randy McFarlane, global head of partnerships at Thought Machine.

“This collaboration reflects our vision to lead the future of autonomous banking through cloud, data and AI,” said Sudip Lahiri, executive vice president and head - Europe and UKI, financial services, HCLTech. 

“By joining forces with Thought Machine, we will help banks unlock exponential value, reduce operational friction and accelerate time to market,” he added.