HCLTech partners with Thought Machine to modernise banks with AI and cloud

HCLTech, a global technology company, has partnered with Thought Machine, a cloud native banking technology firm, to help banks shift from legacy systems to modern, cloud-based platforms supported by Artificial Intelligence (AI).

The collaboration will use Thought Machine’s Vault platform, which provides core banking and payments technology built on a cloud-native architecture. The platform allows banks to replace older systems with software that can automate processes, improve efficiency, and support real-time operations.

HCLTech will contribute its experience in banking technology, regulatory compliance, and systems integration. The company plans to deliver transformation services through teams certified in Vault, as well as through its global financial technology Centers of Excellence. These teams will work on implementation, integration, and security practices to enable faster product launches.

A dedicated global center will also be created for Vault Core and Vault Payments. This facility will focus on developing modular and scalable banking solutions that can adapt to the needs of financial institutions. The aim is to provide banks, whether long-established or new entrants, with the infrastructure to build digital-first and resilient operating models. 

“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.

“This collaboration reflects our vision to lead the future of autonomous banking through cloud, data and AI,” said Sudip Lahiri, Executive Vice President and Head—Europe and 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.”