back Back

HMBradley inks deal with Thought Machine for digital banking services

By Gloria Methri

March 09, 2023

  • Cash back rewards
  • FinTech
  • Flagstar Bank
Share

Thought Machine, HMBradley, FinTech, Digital Banking, NYCB, Latin America, Vault Core, Core Banking, Cloud, Flagstar Bank, Reward SaversHMBradley, a financial technology platform built to reward savers, has entered a strategic partnership with Thought Machine, a leading provider of banking technology.

The partnership enables HMBradley to eliminate its waitlist and open new accounts for the first time in over 16 months. The FinTech has also partnered with New York Community Bank, a division of Flagstar Bank, which will maintain the customer deposit accounts.

HMBradley adopted Thought Machine’s cloud-native core banking platform Vault Core, which when combined with NYCB, allows HMBradley to offer all its current and prospective customers a more personalized and efficient banking experience.

“We are excited to partner with NYCB and Thought Machine to bring the best of both worlds to our customers,” said Zach Bruhnke, CEO and Co-founder of HMBradley. “With Thought Machine’s cutting-edge technology, we can quickly create and build the products we have imagined, and with NYCB’s long-standing reputation as a stable and successful financial institution, we can exceed customer expectations at scale.”

Thought Machine’s smart contracts capabilities allow HMBradley to seamlessly build and deploy a full range of products tailored to everyone’s needs.

“We are thrilled to partner with HMBradley to create a long-lasting impact on the banking industry,” said Paul Taylor, CEO of Thought Machine. “By running on Vault Core, HMBradley will undoubtedly grow and improve its service in ways customers never imagined. We look forward to supporting HMBradley as it bakes power and efficiency into its operations and rolls out innovative new features with speed.”

HMBradley also announced that its customers will have the opportunity to set their annual percentage yield (APY) on their accounts each month based on their savings and spending habits. Additionally, customers will be able to earn interest on balances up to $250,000, up from $100,000 previously.

“NYCB is excited to be a part of this next phase of HMBradley’s customer experience evolution,” said Douglas Pagliaro, Senior Managing Director, and Deputy Chief Digital and Banking as a Service Officer at NYCB. “This partnership aligns with our strategy of working with best-in-class innovators and helps NYCB broaden its banking as a service distribution channel.”

Previous Article

March 09, 2023

3 beginner-friendly investment apps in Canada to automate your finances

Read More
Next Article

March 09, 2023

TS Imagine introduces RiskSmart X, a cross-asset class real-time risk platform

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Cash back rewards

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

LTIMindtree extends multi-million-dollar contract with Absa Bank

Read More

Today

Sopra Banking Software partners with Finom

Read More

Today

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024