Together in core banking tech revamp with Thought Machine

UK-based lender Together is embarking on a back-office technology modernisation project with Thought Machine.

Together modernises its tech

The vendor, which is also based in the UK, says its flagship Vault core banking system will replace its legacy core software, forming the “foundation layer” for Together’s new technology stack.

Established in 1974 and employing 600 staff, Together is a specialist lender, offering short-term finance, auction finance, personal, commercial and buy-to-let mortgages and secured loans to individuals and small businesses. It also works with intermediaries, including brokers, accountants, solicitors, banks and financial advisers.

“We aim to help increasing numbers of customers realise their ambitions by making finance work,” says Gerald Grimes, group CEO designate of Together.

“As we continue to shape our business to deliver this aim, we need a highly-scalable and configurable core technology stack that helps us to deliver the right experience for our customers, frees our colleagues to do what they do best and enables us to grow rapidly and sustainably.”

Together will start by migrating its existing accounts and products onto Vault.

“Thought Machine’s team have proven to us that the design of their product will enable us to migrate existing products, and configure entirely new ones with speed and agility,” Grimes adds.

Thought Machine’s other clients in the UK are Monese, a mobile banking app; TransferGo, a money transfer service; Curve, a payment card provider; challenger bank Atom; and Lloyds Banking Group (which is also an investor in Thought Machine),