By Aisling Finn on Monday 19 October 2020
Thought Machine’s software-as-a-service product Vault will power Curve’s latest product offering, Curve Credit.
“Our teams share a passion for building expertly-engineered products that give customers choice and flexibility in managing their finances, and to do so in a meaningful way.”
Through using Vault, the Curve Credit team will be able to build financial products by writing them as code into Thought Machine’s smart contracts interface, which is used by the likes of Lloyds Banking Group, Atom Bank, Standard Chartered and, most recently, Monese.
Paul Harrald, head of Curve Credit, added: “Thought Machine is the only technology that allows us to deliver the flexibility and manageability we desired for our customers. Curve Credit’s ethos is about responsible lending and responsible borrowing.”
“Alongside Curve OS, this three-way dynamic will be able to give each customer the clearest possible terms via a simple and beautiful product and experience.”
Curve Credit can be applied both as soon as a purchase has been made and also through Curve’s signature ‘Go Back in Time’ technology, which enables users to change the payment card used to make a purchase.
The newest addition to Curve’s product offering still remains in beta testing, currently only available to its employees, while it waits for approval from the FCA to bring Credit to market later this year.
Kenner brings over 30 years’ experience in the financial industry, including a tenure as the managing director of Deutsche Bank, Swiss Re Capital and Dutch bank ABN Armo.
Thought Machine has also been busy as of late, having created 150 new roles in 2020, extended its Series B by an extra $42m, bringing the total to $125m, as well as hiring ex-HSBC operations chief Andy Maguire as its new chair.