Thought Machine expands to Latin America with Chilean lending platform Cordada

Thought Machine is expanding into Latin America with its latest client, private debt platform Cordada.

The Chilean company, which provides solutions for fintechs and lenders serving SMEs in Latin America, will use Thought Machine’s cloud-native core banking platform ‘Vault Core’ to create personalised financial products.

Currently operating in Chile, Peru and Mexico, it plans to use Thought Machine’s Vault platform to expand to new markets in Latin America and to expand its suite of lending solutions.

“Vault Core will enable us to create highly differentiated financing products quickly and effortlessly without depending on the Thought Machine team,”  Cordada co-founder and CEO Andrés Prats said.

“This, in turn, will empower the next generation of SME lenders to develop modern solutions as they tackle the great challenge of bridging the $1trn financing gap for SMEs in Latin America.”

Cordada adds to Thought Machine’s extensive client roster, which includes fellow LATAM fintech, Brazil-based C6 Bank as well as Lloyds Banking Group, Standard Chartered Bank, Curve and 

“Running on Thought Machine technology, Cordada will empower lenders of all sizes and provide high-quality financing options to SMEs across Latin America,” Thought Machine founder and CEO Paul Taylor said.

“We look forward to Cordada enhancing its product offerings and delivering a new era in SME funding for Latin American businesses.”