JPMorgan Chase to replace US retail core with Thought Machine's Vault - NewsBreak

JPMorgan Chase is to replace its current retail core banking system in the US with technology from Thought Machine. Founded in 2014 by former Google engineer Paul Taylor, Thought Machine has built Vault, a modern cloud native core system for banks constrained by legacy technology. Over the last months, the company has scaled up international hiring, adding 100 employees in the first two quarters of 2020 across three regions.