Afin Bank, a digital lender created to help people from Africa living and working in the UK, has picked Thought Machine as its core banking provider.
Afin was recently granted a banking licence Authorisation with Restrictions, paving the way for it to start lending next year.
The firm is initially targeting people from Africa who find it difficult to get mortgages because of their nationality, visa status or lack of credit history in the UK. It will also offer savings products.
It has signed for Thought Machine's cloud-native Vault Core platform, enabling it to independently design a suite of personalised and integrated products.
Monica Velasquez, CTO/O, Afin, says: “We selected Vault Core for its product excellence. It is cloud-native, highly configurable, and uniquely universal.”