Mar 10, 2021

Vacuumlabs and Thought Machine partner to transform banking

Vacuumlabs
ThoughtMachine
Banking
Fintech
Vacuumlabs
3 min
Vacuumlabs and Thought Machine partner to transform banking
Vacuumlabs has announced a global partnership with Thought Machine following the two firms’ successful cooperation in Asia...

Vacuumlabs, the global provider of full-stack fintech solutions, today announced a global partnership with Thought Machine, the cloud-native core banking technology company, following the two firms’ successful cooperation in Asia.

Vacuumlabs recently completed the first-ever installation in Asia of Thought Machine’s core banking engine Vault. This significant project has enabled a new virtual bank to launch in Hong Kong – along with Asia’s first numberless payment card. The bank went from initial licensing to market deployment in just 18 months. 

Thought Machine’s technology and Vacuumlabs’ expertise provided this new bank with unparalleled security, scalability, flexibility and availability. The Vacuumlabs team of specialist engineers worked both remotely and on-site throughout the build to lead the installation. This highly successful collaboration evolved into forging a global strategic partnership.

Steve Hoy, Partnerships Director of Thought Machine explains why Vacuumlabs was the first-choice partner for this ambitious and successful endeavor: “Vacuumlabs has the specialist skillsets, technical expertise, and can-do attitude which enabled the client to embrace our cloud native core banking technology – the collaboration between our two companies was a key factor for the overall success of the project.”

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Paul Kenny, Chief Growth Officer comments: “Thought Machine’s cloud native core banking platform, Vault, is a proven gamechanger for banks around the world. This partnership is the logical step forward for our two companies which share a vision of engineering excellence and transforming industries with modern, pioneering technology. We are looking forward to continuing our partnership with Thought Machine in our future client implementations.”

Based on the first implementation of Thought Machine in Asia, Vacuumlabs aims to strengthen its presence in the APAC region and broaden its services to existing and new clients in Asia with the launch of new regional headquarters in Hong Kong.

Vacuumlabs has a well-established track record in supporting those companies and brands that accelerate change in global financial services and make up this ecosystem. It has recently partnered on developing the 2030 Carbon Impact Calculator for Doconomy, and in supporting changemakers by building Daylight, the USA’s first LGBT+ digital banking platform.

Vacuumlabs and Thought Machine also launched the report Building a digital bank in August 2020, providing practical insights on how to future-proof any bank with modern cloud native technology. This report can be downloaded here.

Pictured: Vaccumlabs leadership team

About Vacuumlabs

Vacuumlabs, a trusted global technology partner with a proven track record in successfully delivering full-stack fintech solutions, provides teams of agile, remote by nature, software engineers, and designers with years of experience building fintech, cryptocurrency, online marketplaces, and digital products.

Every step of the way, our experts guide our clients, ensuring they can most fast, learn, and iterate. When it comes to world-class product development, we are here to be your guide and partner. From our seven offices, we guide our global clients in their product development needs. Since 2012, our team of engineers has grown to 250, and today we count over 60 clients around the world, from Europe to North America and Asia.

For more information visit vacuumlabs.com 

About Thought Machine

Thought Machine was founded in 2014 with a mission to enable banks to deploy modern systems and move away from the legacy IT platforms that plague the banking industry. We do this through our cloud native core banking platform, Vault. This next generation system has been written from scratch as an entirely cloud native platform. It does not contain a single line of code which is legacy, or pre-cloud.

For more information visit thoughtmachine.net

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Jul 22, 2021

Upgrade launch new credit card with bitcoin rewards

Fintech
upgrade
Bitcoin
card
2 min
Upgrade has announced their new bitcoin rewards card that offers unlimited 1.5% BTC back on every purchase paid

Upgrade, a fintech company focused on providing credit for mainstream consumers, has launched the Upgrade Bitcoin Rewards Card a new version of its Upgrade Card featuring bitcoin rewards. Under the new programme, users earn unlimited 1.5% bitcoin rewards on every purchase as they make payments.  

The custody and trading platform for holding and selling bitcoin is provided by NYDIG and the card is a Visa Signature card, which includes benefits such as trip and baggage insurance, purchase protection, and extended warranty coverage.

The company offers credit lines from $500 to $25,000 with the Upgrade Bitcoin Rewards Card depending on your credit score. It works with Apple Pay and Google Pay. Like other Upgrade credit cards, there are no monthly fees, late fees, or returned payment fees.

"Upgrade Card is already delivering over $3 billion in annualised credit to consumers," said Renaud Laplanche, co-founder and CEO at Upgrade. "Starting today, anyone can apply for an Upgrade Bitcoin Rewards Card and enjoy the same affordable and responsible credit as with any Upgrade Card, plus the potential upside and fun of owning bitcoin."

 

 

(Image: Upgrade)

Participating in the crypto economy 

 

Upgrade isn’t the first company to announce a credit card with bitcoin rewards, but it’s the first one that is generally available. Anyone can apply with no waitlist, and start using their virtual card immediately until they get their physical card in the mail. 

"Crypto rewards introduce cardholders to a new asset class that is increasingly part of a consumer's financial portfolio," said Terry Angelos, SVP and Global Head of Fintech at Visa. "Whether you're a crypto enthusiast or just getting started, programmes like the Upgrade Bitcoin Rewards Card offer an engaging and low-risk way to participate in the crypto economy."

At the moment, you can’t do much with your bitcoins. You can choose to hold them or sell them. There’s no way to transfer your bitcoins to another wallet for instance. If you choose to sell your rewards, there’s a 1.5% transaction fee.

This card is not currently available in all 50 states. Customers in Hawaii, Indiana, Iowa, Louisiana, Nebraska, Nevada, New Hampshire, North Carolina, Washington, West Virginia, Wisconsin, and the District of Columbia can’t order an Upgrade Bitcoin Rewards Card at the moment.

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