Judo Bank Completes Migration to Thought Machine’s Cloud-Native Core Banking Platform

Judo Bank, a leading Australian SME-focused challenger bank, has successfully migrated its lending business to Thought Machine’s cloud-native core banking platform, Vault Core.

The bank selected Thought Machine in 2023 to modernize its systems and scale its business after conducting thorough market research. The nine-month migration process enabled Judo to roll out the new platform to new clients, with existing clients also transitioning quickly to validate the platform’s capabilities.

David Palmer, General Manager of Enterprise Scale at Judo Bank, stated, “By adopting Thought Machine technology, we are entering a new era in business banking – redoubling our commitment to being Australia’s most trusted SME bank, driven by modern technology and free from the constraints of legacy systems.”

“With Vault Core, we look forward to providing our clients with customized products and services powered by world-class core banking technology,” Palmer added.

Paul Taylor, Founder and CEO of Thought Machine, also commented, “Judo Bank is a leader in the Australian business banking space and Vault Core has proven itself to deliver the flexibility and cutting-edge design that enables business banks to thrive and move beyond the constraints of monolithic, legacy technology.”

“We look forward to the next phase of the migration and to Judo Bank customers enjoying the benefits of services built on our technology,” Taylor said.

Thought Machine serves the ANZ banking market from its Sydney office, with clients including global banks such as Lloyds Banking Group and Standard Chartered, as well as commercial clients such as Morgan Stanley and Bpifrance.