Belief Financial institution, the Commonplace Chartered and FairPrice-backed digital challenger that lately launched in Singapore, is operating on Thought Machine’s cloud-native core platform.
Initially providing a bank card, financial savings account and household private accident insurance coverage, the financial institution has signed up greater than 300,000 clients in its first two months.
Belief is operating on Vault Core, Thought Machine’s configurable platform, which the seller says has enabled this fast scaling and also will assist the financial institution construct extra merchandise and options rapidly.
Rajay Rai, CIO, Belief, says: “We’ve got been working collaboratively with Thought Machine to check, deploy and ship a clear banking service which we’re really happy with. Vault Core is the foundational platform for us to construct and develop the primary of Singapore’s new wave of digital banks.”
Commonplace Chartered, which owns 60% of Belief, is a Thought Machine investor and likewise tapped the London-based agency’s expertise for Mox, its new digital financial institution in Hong Kong.