India’s PayU selects Thought Machine’s Vault Core to power LazyPay credit service

PayU, an Indian payment services vendor, has migrated its credit solution LazyPay to Thought Machine’s core banking technology, specifically the Vault Core platform.
The migration process, completed in just 12 months, involved moving LazyPay clients to Thought Machine’s cloud-native platform, enabling PayU to generate differentiated and personalized financial products at scale.
Thought Machine’s Vault Core platform has streamlined real-time financial statement generation and simplified multi-account management for PayU, providing a unified view of products.
PayU plans to continue transferring additional products to Vault Core and use the platform for the development, testing, and deployment of new lending and credit offerings.
Thought Machine’s managing director for the Asia Pacific, Nick Wilde, highlights that the partnership with PayU allows the company to bring its cloud-native technology to the Indian market.
This collaboration reflects Thought Machine’s global expansion efforts, following the deployment of its Vault Core platform by Mexican startup Trafalgar as the country’s first fintech on cloud-native core banking technology.