General Bank of Canada (GBC) has joined forces with Thought Machine to advance its technological infrastructure towards a cloud-native model.

Key Components of the Partnership

GBC plans to transition its new product development initiatives onto Vault Core, Thought Machine’s cutting-edge platform. This move is expected to provide GBC with a more modern and adaptable system that aligns with its strategic objectives.

Since its inception in 2005, General Bank of Canada has focused on offering optimal loan and deposit products, primarily targeting automotive, aviation, and commercial real estate sectors.

Focusing on Future Readiness

Vault Core is an entirely new core banking platform developed from the ground up by Thought Machine. Its real-time architecture and versatile product engine enable banks to innovate and launch a variety of financial products quickly. This will help GBC enhance its configurability, operational efficiency, and agility.

The bank aims to solidify its position as a valuable Bank-to-Business-to-Consumer (B2B2C) provider by leveraging the capabilities offered by Vault Core. With the support of its charter, GBC intends to develop products and distribute them through various channels and partnerships.

Additionally, Thought Machine’s Vault Core is used by several other financial institutions worldwide, such as Intesa Sanpaolo, Lloyds Banking Group, Standard Chartered, SEB, Zopa Bank, Atom Bank, and Curve. By the end of 2025, Shawbrook also began using Vault Core to speed up product innovation in commercial SME lending.