Thought Machine Collaborates with Form3 to Enhance Real-Time Payments in the US and Europe

London-based fintech company, Thought Machine, has announced a strategic partnership with Form3, a cloud-native account-to-account platform, to expand its payment processing capabilities in the US and Europe, according to Finextra news. The collaboration aims to integrate FedNow, TCH RTP, and Sepa Instant Credit Transfer connectivity into Thought Machine’s payment platform, known as Vault Payments.

Vault Payments, designed as a cloud-native and API-enabled solution, is tailored to streamline payment processing for banks. By joining forces with Form3, a platform known for its direct connections to various payment schemes, clients can take advantage of Thought Machine’s powerful configuration capabilities within a seamless environment.

Both Vault Payments and Form3’s account-to-account platform are cloud-native and inherently support ISO 20022 messaging standards, ensuring interoperability and efficiency in cross-border transactions.

Paul Taylor, the CEO of Thought Machine, expressed his enthusiasm about the partnership, stating, «We are delighted to partner with Form3, marking a significant step towards realizing our vision of a truly Universal Payment Engine.»

This collaboration between Thought Machine and Form3 represents a promising development in the financial technology sector, enabling banks to offer faster and more secure real-time payment solutions to their customers in the US and Europe. The integration of these advanced technologies brings us closer to a future where seamless cross-border payments are the new standard in the banking industry.