-Vault to supply core and loan system, allowing Curve users to spread payments 
over instalments 
-Bank-agnostic Curve gives its users access to flexible credit on fairer terms

Thought Machine, the cloud native core banking technology company, today 
announces it has been selected by Curve to power its new credit and loan 
offering, Curve Credit. Curve Credit is a new startup from banking platform 
Curve which allows customers to pay for purchases in instalments. The start-up 
is being launched with an ethos of responsible lending and borrowing.

Logo - https://photos.prnasia.com/prnh/20201015/2950622-1LOGO

Combining the simplicity of Curve's user experience with Thought Machine's 
advanced core technology, Curve Credit allows its users to spread payments over 
three, six, or nine-month periods, offering credit on fairer terms. Credit can 
be applied both retrospectively and prospectively -- utilising Thought 
Machine's core platform and Curve's unique 'Go Back in Time' technology.

Furthermore, Curve Credit will augment customer credit scores using their 
transaction history across various bank accounts, aiming to give customers 
greater transparency and flexibility in the borrowing decisions they make. 

Curve will make full use of Vault's Smart Contracts product-building system to 
deliver this functionality for the live product. The Curve team will, as all of 
Thought Machine's clients, have the ability to build the financial products 
they want by writing them as code in the Smart Contracts interface. 

Vault was selected by Curve Credit as a SaaS offering to power this new 
functionality. Vault SaaS offers all the features of Vault and can support a 
bank of any size, scaling as required.

Founded in 2014 by former Google engineer Paul Taylor, Vault allows banks and 
fintechs to achieve a higher level of functionality, free from the constraints 
of legacy technology, and built natively for the cloud. Thought Machine has 
become the core banking technology partner of choice for tier one banks, 
neobanks and fintechs across the globe. Thought Machine names Lloyds Banking 
Group, Standard Chartered, Atom bank, Monese and SEB as clients.

Paul Taylor, CEO of Thought Machine, comments: "Unbeatable financial services 
organisations are those which embrace modern, cloud native technology, like 
Curve. We look forward to working alongside Shachar, Paul, and the Curve team, 
to bring this truly unseen proposition to the market. Our teams share a passion 
for building expertly-engineered products that give customers choice and 
flexibility in managing their finances, and to do so in a meaningful way."

Paul Harrald, Head of Curve Credit, comments: "We are excited about launching 
Curve Credit with Thought Machine's core banking technology, which is 
unrivalled in the market. Thought Machine is the only technology that allows us 
to deliver the flexibility and manageability we desired for our customers. 
Curve Credit's ethos is about responsible lending and responsible borrowing. 
Alongside Curve OS, this three-way dynamic will be able to give each customer 
the clearest possible terms via a simple and beautiful product and experience."

About Thought Machine

Thought Machine was founded in 2014 with a mission to enable banks to deploy 
modern systems and move away from the legacy IT platforms that plague the 
banking industry. We do this through our cloud native core banking platform, 
Vault. This next generation system has been written from scratch as an entirely 
cloud native platform. It does not contain a single line of code which is 
legacy, or pre-cloud.

Founded by entrepreneur Paul Taylor, Thought Machine's customers include Lloyds 
Banking Group, SEB, Standard Chartered and Atom bank. We are currently a team 
of more than 400 people spread across offices in London and Singapore and have 
raised more than 110m Pounds in funding from Eurazeo Growth, Draper Esprit, 
SEB, British Patient Capital, IQ Capital, Playfair Capital, Lloyds Banking 
Group and Backed. For more information visit thoughtmachine.net.

About Curve

Curve is an over-the-top banking platform, consolidating all your cards and 
accounts into one smart card and even smarter app. Curve offers a host of 
benefits to its customers; it makes all your cards fee-free when spending 
abroad, you get instant notifications and categorisation of spend, you can earn 
instant 1% cashback at the likes of Amazon, Uber, Netflix and Sainsbury's and 
Time Travel enables customers to swap spend to a different card in the app for 
up to two weeks after the purchase was made.

Media contact

Pamela Sumayao, Marketing Manager (APAC)
pamela@thoughtmachine.net
+65-8288-7510

Asif Faruque
Head of Communications
asif@thoughtmachine.net

SOURCE  Thought Machine