TransferGo, one of the world's fastest growing money transfer companies, today 
announces a partnership with Thought Machine, the cloud native core banking 
technology company, to propel its ongoing product innovation and drive global 
expansion into new markets. By taking advantage of Thought Machine's next 
generation cloud native core banking platform Vault, TransferGo will focus on 
enhancing its customer experience through better, more advanced platform 
capabilities. 

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Building on a successful 2020, during which TransferGo defied market 
expectations to see cross-border payments grow by over 60%, Vault will be a 
critical component for sustained growth. By hosting payment services that are 
highly scalable, flexible, secure and fast in the cloud, Vault will empower 
TransferGo to expand its real-time payments platform, build products rapidly 
and release future card and account capabilities without delay. 

Importantly, Vault contains no legacy technology and so allows TransferGo to 
build and deliver payment services to its exact requirements. The technology 
will support TransferGo's mission to continuously drive improvement to its 
digital payments service and the customer experience for the migrant worker 
community, helping them to move their money around the world quickly, safely 
and as cost efficiently as possible. 

"Hot off the heels of a $4m investment from Silicon Valley Bank in November, 
this partnership demonstrates our momentum in investing, innovating and 
disrupting the global remittance market," says Justinas Lasevicius, CFO and 
Co-Founder of TransferGo. "Our customers are at the heart of every decision we 
make, and through our work with Thought Machine and their intuitive product 
Vault, we will introduce more enhanced services and drive impactful experiences 
for our migrant worker community." 

"We are proud to be supporting TransferGo on their global rollout and product 
expansion. It is a testament to Vault's flexibility and future-proof design 
that fast-growing, innovative institutions like TransferGo select us to 
architect their future. Vault's cloud native design provides banks and fintech 
companies the tools to build their bank of the future," says Paul Taylor, CEO 
and Founder of Thought Machine.

"By tapping into the power of the cloud, TransferGo will enjoy a host of 
benefits, including unparalleled scalability, reliability, security and speed. 
Coupled with Vault's unique horizontal architecture – they will be unshackled 
from the constraints of legacy product building – free to focus on providing an 
exceptional customer service and a world-class remittance service."

Today's announcement reflects the continued investment TransferGo is making in 
its award-winning remittances platform. With over 2 million users and securing 
over $14 million in investments last year, it is committed to expanding its 
global footprint and launching new services on its cross-border payments 
platform. TransferGo also recently partnered with VISA and Mastercard, and 
bolstered its senior leadership team through the hires of Edgardo Savoy as 
Chief Technology Officer and Francesco Fulcoli as Chief Compliance Officer. 
These new developments will superpower its technology innovation roadmap.

About TransferGo

Founded in 2012, TransferGo( https://www.transfergo.com/en ) has established 
itself as one of the most trusted money transfer services in the world. Its 
focus on delivering, fast, reliable remittances has led it to become the only 
Pan-European money transfer company that can guarantee an individual's money 
will reach its destination in 30 minutes. By putting the customer experience 
first TransferGo has built a brand that thousands of clients trust and a 
product they love to use. Its vision is to make international financial 
services pain-free and without artificial borders.

Founder and CEO Daumantas Dvilinskas( 
https://www.forbes.com/profile/daumantas-dvilinskas/ ) was included in the 2017 
Forbes 30 under 30. The company was nominated for "Fastest Rising Startup of 
the Year" at the TechCrunch Europa Awards 2018 and listed as one of 2019's five 
hottest UK start-ups by TNW.

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, Atom bank, Monese and Curve. We are 
currently a team of more than 450 people spread across offices in London, 
Singapore, Sydney, Melbourne, New York and have raised more than £110m in 
funding from Eurazeo, Draper Esprit, SEB, British Patient Capital, IQ Capital, 
Playfair Capital, Nyca Partners, Lloyds Banking Group and Backed.

For more information visit thoughtmachine.net

SOURCE Thought Machine