London, New York, Noida | August 26, 2025 — HCLTech, a leading global technology services and consulting company, today announced a strategic global partnership with Thought Machine, a pioneer in cloud-native core banking and payments technology, to fast-track the digital transformation of banks worldwide.
The collaboration aims to empower banks—both established institutions and new challengers—to move rapidly beyond legacy systems, adopting next-generation, intelligent, and autonomous operations powered by AI and cloud innovation.
Driving Modernization with Next-Gen Tech
At the heart of the partnership is the deployment of Thought Machine’s award-winning Vault platform—a fully cloud-native core banking and payments engine recognized for its flexibility, real-time capabilities, and modularity. As banks face mounting pressure to deliver secure, seamless customer experiences and keep pace with new digital-first competitors, Vault’s architecture supports automation of key operations, product configurability, and hyper-personalized services.
HCLTech, leveraging its decades of expertise in banking technology, regulatory compliance, and end-to-end integration, will offer full-stack transformation services. Certified Vault delivery teams, global fintech Centers of Excellence (CoEs), and a robust DevSecOps foundation will support clients on their modernization journey. Additionally, HCLTech will establish a dedicated global CoE for Vault Core and Vault Payments, ensuring rapid, scalable, and secure delivery of modular solutions for the financial services sector.
A Platform for Scale, Security, and Speed
With Vault Core and Vault Payments, banks can automate complex processes, introduce new products faster, and seamlessly integrate with broader fintech ecosystems. HCLTech’s role ensures not only successful technology adoption but also minimal risk and downtime during migration, compliance with evolving regulations, and continuous innovation aligned with changing customer expectations.
Leadership Perspectives
“Our global partnership with HCLTech marks a significant step in helping banks break free from legacy constraints and adopt truly digital-first models,” said Randy McFarlane, Global Head of Partnerships at Thought Machine. “Together, we will deliver intelligent, self-optimizing systems that evolve with customer needs.”
“This collaboration reflects our vision to lead the future of autonomous banking through cloud, data and AI,” commented Sudip Lahiri, Executive Vice President and Head – Europe & UKI, Financial Services, HCLTech. “By joining forces with Thought Machine, we will help banks unlock exponential value, reduce operational friction, and accelerate time to market.”
About Thought Machine
Founded in 2014 and headquartered in London, Thought Machine has set the foundations for the future of banking with its transformational cloud-native core platforms. With clients including Lloyds Banking Group, Standard Chartered, SEB, Atom Bank, Curve, and more, Thought Machine’s Vault portfolio is recognized globally for its flexibility and innovation. The company has raised more than $500 million and has offices in London, New York, Singapore, and Sydney.
Learn more: www.thoughtmachine.net
About HCLTech
HCLTech is a global technology company with more than 223,000 employees across 60 countries and consolidated annual revenues of $14 billion as of June 2025. The company is a trusted partner to enterprises across banking, financial services, manufacturing, telecom, life sciences, and more, delivering innovative digital, engineering, AI, and cloud solutions worldwide.
Learn more: www.hcltech.com
