- Modular, end-to-end solution enables rapid creation and deployment of a 
cloud-based, digital banking entity 
- Production-ready virtual bank for customers and accounts management available 
in under 12 weeks
- Incorporates the new GFT Digital Bank Launcher accelerator (DBL) 
- Enables dynamic scalability, consistent quality, security and reduced 
operating cost 
- De-risks integration of all technology layers


The global IT services and software engineering firm GFT 
[https://www.gft.com/int/en/index/company/newsroom/gft-news/ ] and cloud native 
core banking company Thought Machine today announce the availability of 
BankLite. Co-developed by GFT and Thought Machine and running on Amazon Web 
Services (AWS), the new solution enables clients to create and deploy a 
cloud-based digital bank faster than ever before.

BankLite [https://landing.gft.com/banklite/ ] is a fully modular system 
designed around Vault, Thought Machine's next-generation, cloud-native core 
banking engine, using AWS's native cloud services, hosted on the AWS 
infrastructure. This enables banks to create modern, highly flexible end-to-end 
solutions by delivering the required capabilities to support a multiple-entity, 
multi-brand, multi-country strategy. Its 'building block' architecture of 
pluggable components works together as one, leveraging an integration layer 
with microservices utilising the AWS API gateway. 

Steve Hoy, Director of Partnerships at Thought Machine 
[https://thoughtmachine.net/ ] , said: "Established financial institutions and 
start-ups are struggling with the limitations of legacy technology. There is 
now an urgent need to invest in modern core banking technology enabling 
superior customer service capabilities, reducing complex technology 
environments, all the while achieving optimum operational efficiency. 

This is where BankLite, incorporating Vault, our cloud-native core banking 
solution comes into its own. The increasing number of enquiries we are 
receiving for this type of solution is a clear indication of the industry's 
growing appetite for change. We are confident this new offering has a 
significant part to play in enabling many more financial institutions to 
rapidly achieve their digital transformation goals."

Gonzalo Ruiz de Villa, Executive Director and Chief Technology Officer at GFT 
commented: "BankLite incorporates Digital Bank Launcher, GFT'S new cloud-native 
asset which has been developed to enable the modern core banking providers to 
supercharge the capabilities of their solutions." He went on to explain that 
DBL comprises all the building blocks necessary to deliver digital channels, as 
well as the banking platform to support integrations with external service 
providers and the fintech ecosystem.

According to Ruiz de Villa, DBL provides dynamic scalability and ensures 
consistent quality and security across the full banking stack, from the core 
banking system to the digital channels and the integration with third parties. 
It is built using latest collaborative methods and technologies to ensure that 
all the teams across the business, from UX and design to DevOps and operations, 
can operate within a transparent, fully cooperative environment. An API-based 
experience and a Banking-as-a-Service layer provide a seamless experience 
across third party services, products, and custom-made software.

Using BankLite's pre-configured components, architecture and infrastructure 
which includes GFT's DBL accelerator, banks can get a 'lite' bank up and 
running in under twelve weeks. This approach will enable users to very quickly 
deploy different brands across multiple geographies tailored to suit 
country-specific business and regulatory requirements as well as supporting 
local products and regional partners.

Vault is a next-generation platform which does not contain any legacy or 
pre-cloud technology. It has been built from the ground up around APIs using a 
microservice architecture. The whole system integrates smoothly as the result 
of a single, coherent design. Through its system of smart contracts, Vault can 
be configured to run any type of retail bank product, no matter what the 
complexity. Thought Machine publicly names Lloyds Banking Group, SEB, Standard 
Chartered and Atom Bank as clients and users of Vault. 

Manuel Lavin, Executive Director and Chief Digital Officer at GFT commented: 
"The launch of BankLite is the culmination of the knowledge and experience we 
have acquired over many years in helping financial institutions to successfully 
build custom, end-to-end virtual banks. Using a proven and scalable 
architecture, we have consistently demonstrated the ability to enable clients 
to reduce time to market, minimise project risks and control operational and 
development expenditure. The multi-disciplined BankLite development team has 
delivered a capability which enables financial firms globally to build a new 
virtual bank quickly and efficiently from scratch or extend an existing legacy 
core banking system at a much lower price point. We are looking forward to 
helping our shared clients reap the benefits of this innovative new offering."

gft.com/banklite/

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SOURCE: GFT