Zigi, the digital innovation department of Banco Industrial, has broadened its collaboration with Thought Machine. This partnership is part of Zigi’s ongoing efforts to develop banking services built on Vault Core.

Through this work, Zigi aims to rapidly test, refine, and deploy new services while adhering strictly to local regulatory standards. Over the past year, Zigi has evolved from launching a foundational digital credit service to operating a more comprehensive lending platform tailored for different organizations and brands. Currently, the system processes over 50,000 credit disbursements each month, largely due to Vault Core’s scalable capabilities.

Adapting Technology to Market Needs

Banco Industrial representatives view Zigi as an initiative designed to explore innovative methods of delivering financial services. They highlight that the partnership with Thought Machine is instrumental in both software development and fostering a more agile, user-centric approach to product design.

The officials from Thought Machine underscore how Vault Core facilitates quicker service testing and deployment for large Latin American financial institutions compared to traditional infrastructure. The platform’s smart contract-based architecture supports quick development cycles while maintaining operational controls.

Thought Machine’s technology, deployed by multiple banks internationally, is designed as a fully cloud-native system providing greater control over product customization and payment processing. The company has several international offices and substantial backing from investors as it seeks to expand its influence in the banking tech sector.