HCLTech, a global technology leader, announced a partnership with Thought Machine on August 26, 2025, to accelerate the modernization of banks worldwide. By integrating Thought Machine’s cloud-native Vault platform with HCLTech’s banking expertise, the collaboration aims to transition banks from legacy systems to AI-driven, autonomous financial ecosystems.
Announced: August 26, 2025, in London, New York, and Noida.
Platform: Thought Machine’s Vault Core and Vault Payments for cloud-native banking.
HCLTech Role: Full-stack transformation via Vault-certified teams and global fintech CoEs.
Focus: AI-led automation, regulatory compliance, and personalized customer experiences.
Market Impact: Targets $50B+ core banking modernization market.
Source: businesswire.com.
The partnership leverages Thought Machine’s Vault platform to replace outdated infrastructure, enabling banks to automate operations, enhance efficiency, and deliver personalized experiences. HCLTech will deploy Vault-certified delivery teams and establish a global Center of Excellence (CoE) for Vault Core and Vault Payments, focusing on modular, real-time solutions. “This collaboration reflects our vision to lead autonomous banking through cloud, data, and AI,” said Sudip Lahiri, EVP at HCLTech. Randy McFarlane, Thought Machine’s Global Head of Partnerships, added, “Together, we will deliver intelligent, self-optimizing systems.”
The global core banking software market, valued at $10.2B in 2024, is projected to grow at a 17.4% CAGR through 2030, driven by cloud and AI adoption. This partnership aligns with trends like HPE’s AI-native networking and Phosphorus’s xIoT security, emphasizing automation. Posts on X, such as @CNBCTV18Live, highlight the focus on modernizing legacy systems, reflecting industry momentum.
HCLTech’s expertise in regulatory compliance and DevSecOps, combined with Vault’s cloud-native architecture, positions banks to innovate rapidly and reduce operational friction. The partnership supports both established and challenger banks, aligning with regulatory trends like the EU AI Act.
HCLTech is a global technology company, home to more than 223,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, High Tech, Semiconductor, Telecom and Media, Retail and CPG and Public Services. Consolidated revenues as of 12 months ending June 2025 totaled $14 billion.
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