Judo Bank, Australia’s SME-focused challenger bank, has fully migrated its lending operations to Thought Machine’s cloud-native core banking platform, Vault Core.
Following a market search, Judo Bank selected Thought Machine in 2023 to modernise its systems and scale its operations. The nine-month migration process enabled Judo to launch the new platform for new customers, with existing customers swiftly transitioned to validate the platform’s capabilities.
“By adopting Thought Machine technology, we are stepping into a new era of business banking – doubling down on our commitment to being the most trusted SME business bank in Australia, powered by modern technology and free from the constraints of legacy systems,” said David Palmer, general manager, enterprise scale at Judo Bank.
“With Vault Core, we look forward to offering our customers tailored products and offerings backed by world-class core banking technology.
Paul Taylor, founder and CEO at Thought Machine, also commented: “Judo Bank is a leader in Australia’s business banking segment, and Vault Core has proven itself to offer the flexibility and cutting-edge design to allow business banks to prosper and flourish, free from the constraints of monolithic, legacy technology.
“We look forward to the next stage of migration and Judo Bank customers enjoying the benefits of their services running on our technology.”
Thought Machine serves the ANZ market from its Sydney office, with clients including global banks like Lloyds Banking Group and Standard Chartered, as well as commercial clients such as Morgan Stanley and Bpifrance.
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