- 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.
