DXC Technology, a Fortune 500 global leader in IT services, and Thought Machine, a pioneer in cloud-native core banking platforms, announced a strategic collaboration to deliver a comprehensive solution designed to fast-track digital transformation for small and midsize banks.
This powerful alliance integrates DXC’s deep financial services expertise and managed services portfolio with Thought Machine’s advanced core banking engine, Vault Core, and its payment platform, Vault Payments. Together, the companies are offering a streamlined, end-to-end path to modernization-eliminating complexity and accelerating innovation across banking operations.
As regional and mid-tier financial institutions race to keep up with global banks building proprietary digital systems, many are hindered by fragmented vendor ecosystems and outdated core platforms. The DXC–Thought Machine offering addresses this gap with a fully managed, turnkey solution that unifies technology, people, and process-enabling banks to upgrade legacy systems, reduce costs, and bring new digital products to market faster and more efficiently.
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“This collaboration underscores our dedication to leveraging next-generation technology to enable banks to modernise faster and deliver exceptional financial products,” said Randy McFarlane, global head of partnerships at Thought Machine. “With modern core systems, banks are empowered to develop more innovative, customer-centric services with speed and ease. We are excited to work with DXC to accelerate banking transformation and build the future of financial services globally.”
The joint solution delivers unmatched agility, scalability, and speed. Financial institutions can either launch new digital banking products from scratch or migrate existing offerings to Vault Core—fully supported by DXC’s Business Process Services framework. By leveraging Vault’s configurable architecture and DXC’s automation-first approach, banks gain the flexibility to launch products like savings accounts, loans, or mortgages in hours instead of weeks-without requiring code-level changes.
“With more than 45 years of experience in banking operations, DXC is deeply committed to delivering best-in-class digital solutions to the world’s leading financial institutions,” said Chris Drumgoole, President, Global Infrastructure Services at DXC Technology. “Our joint solution with Thought Machine provides a comprehensive, future-ready path to modernization—enabling banks to accelerate innovation, improve operational efficiency, and reduce risk.”