HCLTech has announced a global partnership with Thought Machine to help banks modernise their systems and move away from outdated infrastructure. The collaboration aims to support banks in becoming intelligent, AI-driven and cloud-powered financial institutions.
At the centre of this initiative is Thought Machine’s Vault platform, an advanced core banking and payments system that replaces legacy technology with a cloud-native architecture. The platform is designed to improve efficiency, reduce operational limitations and provide customers with more personalised banking experiences.
HCLTech will use its expertise in banking technology, regulatory compliance and complex system integration to deliver full-scale transformation services. These services will be offered through Vault-certified delivery teams, global fintech Centres of Excellence and a strong DevSecOps framework. The company also plans to set up a dedicated global Centre of Excellence for Vault Core and Vault Payments. This centre will focus on modular, real-time and scalable solutions tailored for the financial services sector.
“This collaboration reflects our vision to lead the future of autonomous banking through cloud, data and AI,” said Sudip Lahiri, PhD, executive vice president and head Europe and UKI, financial services, HCLTech. He further added, “By joining forces with Thought Machine, we will help banks unlock exponential value, reduce operational friction and accelerate time to market.”
Sharing his perspective, Randolph (Randy) McFarlane, global head of partnerships at Thought Machine, said the partnership is an important step in enabling banks to “break free from legacy constraints and adopt truly digital-first models.” The joint effort will empower both established banks and emerging players to build more agile, resilient and future-ready ecosystems that rely on AI-led strategies.
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