DXC Technology and Thought Machine Unite to Accelerate Banking Modernization Solutions

Accelerating Banking Modernization with DXC Technology and Thought Machine



In a significant collaboration on June 24, 2025, DXC Technology (NYSE: DXC), a prominent global technology services provider, joined forces with Thought Machine, an innovative leader in cloud-native banking technology. This partnership aims to deliver a groundbreaking solution designed to fast-track the digital transformation of small to medium-sized banks.

As the financial landscape becomes increasingly competitive, smaller banks face the daunting challenge of keeping pace with larger institutions that have the resources to develop proprietary platforms. Often, they are burdened with outdated systems and a convoluted vendor landscape. The new solution presented by DXC and Thought Machine combines DXC's extensive industry expertise and full-service management with Thought Machine's next-generation core banking platform, Vault Core, and its payment processing service, Vault Payments. This integrated approach seeks to streamline the modernization of financial institutions.

Simplifying the Transformation Path



The collaboration’s managed service offering simplifies the modernization journey, equipping these banks with the essential technology, tools, and skilled personnel needed to rejuvenate their operations. By providing a coherent transformation pathway, DXC and Thought Machine guide banks through the modernization of their legacy core systems, expedite the launch of new digital products, and ensure operational efficiency, resilience, and compliance.

Randy McFarlane, Global Head of Partnerships at Thought Machine, shares the vision, stating, “This collaboration highlights our commitment to leveraging next-generation technologies that enable banks to modernize more quickly and deliver exceptional financial products.” With sophisticated core systems in place, banks can more efficiently design and implement innovative, customer-centric services.

Enhancing Flexibility and Scalability



The joint solution not only boosts flexibility but also surmounts scalability barriers, significantly shortening the time-to-market for new products. Financial institutions can either develop new offerings from scratch or migrate existing systems to the Vault platform, all managed by DXC’s comprehensive end-to-end business process services. This means that banks can introduce offerings like savings accounts, mortgages, and loans in hours, rather than weeks or months.

By integrating DXC’s automation-driven methodologies with the configurability of Vault Core's technology, code changes become unnecessary. Thus, the delivery of new digital products and features can be accelerated, paving the way for future innovations.

Chris Drumgoole, President of Global Infrastructure Services at DXC Technology, emphasizes the significance of this partnership, stating, “With over 45 years of experience in banking, DXC is committed to providing top-tier digital solutions for leading financial institutions worldwide.” The collaborative offering establishes a roadmap for modernization that empowers banks to drive innovation, enhance operational efficiency, and mitigate risks.

A Trusted Partner for Financial Institutions



As a leader in technology-driven managed services catering to banking and capital markets, DXC confidently manages over 250 million customer accounts worldwide. The extensive ecosystem of DXC encompasses a diverse array of innovative partners, cutting-edge products, and skilled talent that facilitates the seamless processing of 275 million daily card transactions across 475 banks.

Information about this strategic partnership can be found on the DXC Banking BPS page. DXC Technology supports global enterprises by modernizing their mission-critical systems and processes while optimizing IT, enhancing data architectures, and ensuring security and scalability across public, private, and hybrid clouds. The world’s largest businesses and public sector organizations rely on DXC for services that elevate performance, competitiveness, and customer experiences across their IT environments.

Thoughts on the Future



Thought Machine represents a pivotal advancement in the realm of cloud-native core banking and payment solutions. Its Vault Core platform is not only recognized but also utilized by leading banks and financial institutions like Intesa Sanpaolo, ING Bank Śląski, and Lloyds Banking Group. Designed from the ground up as cloud-native technologies, Vault Core and Vault Payments grant banks full operational control over their banking products and payment systems, enabling them to thrive in an ever-evolving landscape.

With teams established in key financial hubs including London, New York, Singapore, and Sydney, Thought Machine continues to garner significant investment, with over $500 million raised to date. For more insights about the collaboration, visit thoughtmachine.net.

As banking continues to evolve, the partnership between DXC Technology and Thought Machine stands as a testament to the commitment toward accelerating modernization and redefining the future of financial services globally.

Topics Financial Services & Investing)

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