API-driven data exchange between the two companies will enable banks using Thought Machine to add Trade Ledger’s loan origination and management capabilities, transforming the customer experience and streamlining lending operations. As a result, they will gain a significant competitive advantage by being able to offer their business customers quicker, easier applications for working capital finance and other business lending solutions, with fast initial drawdown, via Thought Machine’s Integration Library.

The world’s top banks have adopted the Vault platform as the foundation layer of their technology stack, including JPMorgan Chase and Standard Chartered. Vault Core enables banks to rapidly build any product they wish, giving complete control and ease of integration with other bank systems and partner offerings - and this now includes the Trade Ledger lending platform. With the Trade Ledger integration, banks can now rapidly configure and launch new products such as secured loans, invoice and asset finance, with ease and control.

Shivani Jaswal, Partner Manager at Thought Machine said: “Introducing Trade Ledger to our expanding and evolving Integration Library allows banks to add commercial lending products with super-fast origination, automated data ingestion and implementation of risk policies for decision support. We are excited to be adding Trade Ledger to our Integration Library - expanding the pool of market-leading offerings available to our client banks around the world.”

Alan Walsh, Head of Partnerships at Trade Ledger added: “Through the Trade Ledger integration, banks running Vault Core can access a range of solutions that underpin a commercial lending offering. These include origination and customer engagement; risk assessment and collateral management; facility management and loan structuring; and relationship and portfolio management. Thought Machine’s rich set of APIs lets banks use best-in-class provision from an ecosystem of integrated technology, which now includes Trade Ledger’s lending platform.”

Martin McCann, CEO and co-founder of Trade Ledger concluded: “Our partnership with Thought Machine demonstrates the value that the Trade Ledger platform is giving commercial lenders at a time when access to business finance could be highly influential on long-term customer retention. The ease with which the Trade Ledger capabilities can be integrated into the Thought Machine platform means banks can increase their competitive advantage in building new working capital offerings that are fit for purpose in the current challenging economy.”