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Transform your core through coexistence with Thought Machine and AWS

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Banks are looking to the future, striving to enhance their customer experience and improve their services. The next generation of banking is now, and it is on the cloud. 

Moving to the cloud does not mean moving all products and cores simultaneously. The big bang migration is rarely explored as an option; instead, the world’s modernising banks are looking to de-risk by adopting an iterative approach of gradually replacing functional core components. This strategy allows banks to test and learn before committing their full stack to the cloud. Banks that follow this approach have established a core coexistence strategy, which we set out in our latest paper with AWS.

In the paper, we explore:

  • The benefits of following a coexistence strategy
  • How to create a successful coexistence architecture and the key components to consider

These are accompanied by a diagram of Vault Core, Thought Machine’s cloud-native core banking platform, illustrating how it coexists with a bank’s legacy core and key architectural components on various AWS cloud services. The paper also includes an architecture diagram that shows how a Tier 1 bank has already built an innovative lending product on Vault Core while coexisting with a legacy core.