HCLTech has announced a strategic global partnership with Thought Machine to accelerate the digital transformation of banks worldwide. The collaboration is aimed at helping financial institutions shift from legacy systems to cloud-native, AI-powered architectures, enabling them to become more agile, customer-centric, and resilient. At the heart of this transformation will be Thought Machine’s Vault platform, a next-generation core banking and payments solution designed to replace outdated infrastructure with modern, modular, and intelligent systems.
Drawing on its extensive experience in banking technology, regulatory compliance, and large-scale integrations, HCLTech will provide end-to-end transformation services to clients through Vault-certified delivery teams and global fintech Centers of Excellence (CoEs). The company has also committed to setting up a dedicated global CoE for Vault Core and Vault Payments, focusing on scalable, real-time solutions that can adapt to the rapidly changing demands of financial services.
Emphasizing the significance of the collaboration, Sudip Lahiri, PhD, executive vice president and head – Europe and UKI, financial services, HCLTech, said: “This collaboration reflects our vision to lead the future of autonomous banking through cloud, data and AI. By joining forces with Thought Machine, we will help banks unlock exponential value, reduce operational friction and accelerate time to market.”
The partnership combines HCLTech’s expertise in complex system transformations with Thought Machine’s innovative core banking technology. Together, the two companies will enable banks—ranging from long-established institutions to fast-growing challenger banks—to modernize their operations and adopt truly digital-first models.
Highlighting the broader impact, Randolph (Randy) McFarlane, global head of partnerships at Thought Machine, stated: “This initiative marks a significant step in helping banks break free from legacy constraints and adopt truly digital-first models.”
By aligning Thought Machine’s Vault technology with HCLTech’s full-stack capabilities and secure DevSecOps foundation, the partnership aims to redefine the future of banking—driving faster innovation cycles, improved operational efficiency, and highly personalized customer experiences.
This collaboration not only underscores the growing role of AI and cloud technologies in financial services but also positions HCLTech and Thought Machine at the forefront of building future-ready digital banking ecosystems.
