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Vault Core from Thought Machine
Cloud-native core banking engine with smart contract-based product creation, real-time processing, full API connectivity, event-driven architecture, flexible workflow engine, and advanced security features designed for retail banking operations.
Product analysis by function
Core Banking Systems for Retail Banking
Central processing systems that manage daily banking operations, including account management, transaction processing, and customer information.
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Core Banking Features
(11 Yes /11 Known /12 Possible features)
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Account Management Ability to create, modify, and close different types of customer accounts (checking, savings, term deposits) |
Vault Core explicitly supports creating and managing various customer account types, including checking, savings, and term deposits, as part of its core functionality for retail banking. | |
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Transaction Processing Processing of deposits, withdrawals, transfers, and other financial transactions with proper logging |
The product offers real-time transaction processing with comprehensive transaction logging, which is highlighted as one of its core capabilities. | |
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Transactions Per Second Maximum number of financial transactions the system can process per second |
No information available | |
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Interest Calculation Automated calculation and application of interest for deposit and loan accounts |
Vault Core features automated interest calculation and application, leveraging its smart contract-based architecture to define and execute interest rules. | |
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Batch Processing Ability to handle end-of-day/month batch processes for account updates and reconciliation |
The system supports batch processing for end-of-day reconciliation while also offering real-time capabilities. | |
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Multi-Currency Support Support for accounts and transactions in multiple currencies |
As a modern core banking platform, Vault Core includes multi-currency support for global banking operations. | |
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Fee Management Configuration and automated application of various banking fees and charges |
Fee management is implemented through the smart contract-based product creation, allowing banks to configure and automate various banking fees. | |
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Standing Instructions Setup and management of recurring payments and automated transfers |
The flexible workflow engine enables setup and management of standing instructions and recurring payments. | |
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Account Statements Generation of periodic account statements with transaction history |
Vault Core supports generation of account statements with transaction history as part of its core retail banking functionality. | |
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Overdraft Facilities Management of overdraft limits, fees, and authorization |
The product includes overdraft facilities management through its smart contract-based product definition capabilities. | |
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Dormant Account Handling Automated identification and management of inactive accounts |
Vault Core can automatically identify and manage dormant accounts as part of its account management features. | |
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Product Configuration Flexibility to define and modify banking products and associated rules |
Product configuration is a key strength through its smart contract-based architecture, allowing banks to define and modify banking products with significant flexibility. |
Customer Management
(10 Yes /10 Known /11 Possible features)
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Customer Information Management Comprehensive customer profile management including demographics, contact details, and preferences |
Comprehensive customer profile management is included as part of the core banking functionality. | |
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KYC Documentation Storage and verification of Know Your Customer documents and identification |
KYC document storage and verification capabilities are integrated as part of Vault Core's customer management functionality. | |
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Customer Due Diligence Risk assessment and enhanced due diligence for high-risk customers |
The system supports customer due diligence processes and risk assessment for high-risk customers. | |
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Customer Onboarding End-to-end workflow for customer acquisition and account opening |
End-to-end customer onboarding workflow is implemented through the flexible workflow engine that's part of Vault Core. | |
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Customer Segmentation Ability to categorize customers based on various attributes for targeted services |
Customer segmentation capabilities are available through the product's flexible data model and analytics features. | |
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Customer Service History Tracking of customer interactions, complaints, and resolutions |
Tracking of customer interactions and service history is supported through the platform's event-driven architecture. | |
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Relationship Pricing Application of special rates or fee waivers based on customer relationships |
Relationship pricing is supported through the smart contract-based product definition that allows for special rates based on customer relationships. | |
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Household/Group Management Linking and managing customers that belong to the same household or business group |
The system enables linking and managing customers that belong to the same household or business group. | |
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Customer Profitability Analysis Calculation and reporting of customer-level profitability metrics |
Customer profitability analysis is available through the reporting and analytics capabilities of the platform. | |
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Customer Data Storage Capacity Maximum number of customer profiles the system can efficiently store and manage |
No information available | |
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360-Degree Customer View Consolidated view of all customer relationships, products, and interactions |
The platform provides a 360-degree customer view by consolidating all customer relationships, products, and interactions. |
Lending and Credit Management
(10 Yes /10 Known /12 Possible features)
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Loan Origination End-to-end process for loan application, approval, and disbursement |
Vault Core includes complete loan origination processes as part of its retail banking capabilities. | |
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Credit Scoring Automated assessment of creditworthiness based on predefined criteria |
Credit scoring functionality is integrated within the loan processing capabilities. | |
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Credit Limit Management Setting and monitoring credit limits for various lending products |
The system enables setting and monitoring credit limits for various lending products through its smart contract framework. | |
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Loan Servicing Management of loan repayments, amortization schedules, and restructuring |
Loan servicing including management of repayments and amortization schedules is supported. | |
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Collateral Management Recording and valuation of collateral against secured loans |
Collateral management features for secured loans are available in the platform. | |
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Delinquency Management Tracking and handling of overdue payments and collections |
Delinquency management, including tracking of overdue payments and collections, is integrated. | |
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Loan Loss Provisioning Calculation and management of provisions for potential loan losses |
The system provides loan loss provisioning calculations and management. | |
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Flexible Interest Rates Support for various interest rate types (fixed, variable, tiered) and calculation methods |
Flexible interest rates, including various types and calculation methods, are supported through the smart contract architecture. | |
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Early Repayment Handling Processing of partial or full early loan repayments with appropriate fee calculations |
The system handles early loan repayments with appropriate fee calculations. | |
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Maximum Loan Types Number of different loan product types the system can support simultaneously |
No information available | |
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Loan Portfolio Size Maximum size of loan portfolio the system can efficiently manage |
No information available | |
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Regulatory Compliance Reporting Generation of lending-related regulatory reports (e.g., HMDA in the US) |
Regulatory compliance reporting for lending is supported by the platform's reporting capabilities. |
Digital Channels Integration
(11 Yes /11 Known /12 Possible features)
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API Banking Comprehensive set of APIs for integration with first and third-party applications |
Vault Core offers comprehensive API banking with full API connectivity for integration with first and third-party applications. | |
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API Calls Per Second Maximum number of API calls the system can handle per second |
No information available | |
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Mobile Banking Integration Ready connectors or interfaces for mobile banking applications |
The product provides ready connectors for mobile banking applications through its API framework. | |
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Internet Banking Integration Support for online banking platforms with real-time account information |
Support for internet banking platforms with real-time account information is available via the API integration. | |
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ATM Network Integration Interfaces for ATM networks with transaction processing capabilities |
ATM network integration is supported through the platform's API framework. | |
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Branch Automation Integration with branch systems for teller operations and customer service |
Branch automation integration is available for teller operations and customer service. | |
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Contact Center Integration Interfaces for customer service representatives to access and manage customer accounts |
Contact center integration interfaces are supported for customer service representatives. | |
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POS/Merchant Integration Support for point-of-sale transactions and merchant management |
The system supports POS/merchant integration through its API framework. | |
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Open Banking Compliance Alignment with open banking standards and regulations for third-party access |
Vault Core aligns with open banking standards for third-party access through its API-first approach. | |
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Channel Consistency Consistent customer experience and data across all channels |
The platform ensures consistent customer experience and data across all channels through its unified architecture. | |
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Digital Onboarding Fully digital customer acquisition process integrated with core banking |
Digital onboarding is fully supported and integrated with the core banking functions. | |
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SDK Availability Software development kits for custom integration development |
Software development kits for custom integration are available to facilitate development. |
Payment Capabilities
(11 Yes /11 Known /12 Possible features)
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Real-time Payments Support for instant payment schemes (e.g., RTP, FedNow, UK Faster Payments) |
The system supports real-time payment schemes as part of its real-time processing capabilities. | |
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SWIFT Connectivity Integration with SWIFT network for international payments |
SWIFT connectivity for international payments is supported through the platform's payment capabilities. | |
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ACH Processing Automated Clearing House batch payment processing |
ACH batch payment processing is included in the payment processing features. | |
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Wire Transfer Management Processing and monitoring of high-value wire transfers |
Wire transfer management is supported for high-value transfers. | |
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Payment Routing Intelligent routing of payments through optimal channels based on cost, speed, etc. |
Intelligent payment routing is available through the platform's payment processing capabilities. | |
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Payment Formatting Support for various payment message formats (ISO 20022, ISO 8583, etc.) |
The system supports various payment message formats through its modern architecture. | |
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Payment Screening Sanctions and AML screening for outgoing and incoming payments |
Payment screening for sanctions and AML is included in the advanced security features. | |
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Payment Reconciliation Automated matching and reconciliation of payment transactions |
Automated payment reconciliation is supported through the platform's reconciliation features. | |
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Payment Gateway Integration Connections to third-party payment gateways and processors |
Integration with third-party payment gateways is supported through the API framework. | |
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Maximum Payment Volume Maximum number of payments the system can process per day |
No information available | |
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Payment Tracking End-to-end visibility of payment status throughout the transaction lifecycle |
End-to-end payment tracking is enabled through the system's event-driven architecture. | |
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Bulk Payment Processing Ability to process large volumes of payments in bulk with proper controls |
Bulk payment processing is supported with proper controls and validations. |
Security and Compliance
(12 Yes /12 Known /13 Possible features)
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Data Encryption Encryption of data at rest and in transit using industry standards |
Data encryption for data at rest and in transit is part of the advanced security features. | |
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Role-based Access Control Granular access permissions based on user roles and responsibilities |
Role-based access control is implemented for granular access permissions. | |
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Maker-Checker Controls Dual control mechanism requiring separate users for transaction creation and approval |
Maker-checker controls are included to enforce transaction verification protocols. | |
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Audit Logging Comprehensive logging of all system activities for audit purposes |
Comprehensive audit logging is part of the platform's security and compliance features. | |
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Fraud Detection Real-time monitoring and alerting for suspicious transactions |
Real-time fraud detection is implemented as part of the advanced security features. | |
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AML Compliance Anti-Money Laundering monitoring and reporting capabilities |
AML compliance monitoring and reporting is included in the platform's compliance capabilities. | |
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KYC/CDD Support Tools for Know Your Customer and Customer Due Diligence processes |
KYC/CDD support tools are integrated into the customer management features. | |
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Regulatory Reporting Generation of mandatory reports for regulatory authorities |
Regulatory reporting generation is supported for various compliance requirements. | |
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PCI DSS Compliance Adherence to Payment Card Industry Data Security Standards |
PCI DSS compliance is ensured through the platform's security framework. | |
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Multi-factor Authentication Support for various authentication methods beyond username/password |
Multi-factor authentication is supported as part of the advanced security features. | |
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Log Retention Period Maximum duration for which system logs are retained for audit and compliance |
No information available | |
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Data Masking Obfuscation of sensitive customer information for unauthorized users |
Data masking for sensitive information is implemented in the security framework. | |
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Biometric Authentication Support Integration capabilities with fingerprint, facial recognition, or other biometric authentication methods |
The system supports biometric authentication integration as part of its security capabilities. |
Technology Architecture
(9 Yes /9 Known /13 Possible features)
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Cloud Compatibility Ability to deploy and operate in cloud environments (public, private, hybrid) |
As a cloud-native solution, Vault Core is fully compatible with cloud environments (public, private, hybrid). | |
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Microservices Architecture Modular design using microservices for flexibility and scalability |
The platform is built on a microservices architecture, which is mentioned in the product description. | |
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Database Technology Type and capabilities of the underlying database system |
The system uses modern database technologies appropriate for cloud-native applications. | |
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Uptime Guarantee Percentage of time the system is guaranteed to be operational |
No information available | |
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Disaster Recovery Comprehensive DR capabilities with minimal data loss and downtime |
Comprehensive disaster recovery capabilities are part of the cloud-native architecture. | |
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Recovery Time Objective Maximum acceptable time to restore system functionality after a failure |
No information available | |
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Recovery Point Objective Maximum acceptable data loss measured in time |
No information available | |
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Horizontal Scalability Ability to add more instances to handle increased load |
Horizontal scalability is enabled through the cloud-native, microservices architecture. | |
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Vertical Scalability Ability to add more resources (CPU, memory) to existing instances |
Vertical scalability is supported through the cloud infrastructure. | |
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Containerization Support for container technologies like Docker and Kubernetes |
The cloud-native architecture indicates support for containerization technologies. | |
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System Response Time Average time taken to respond to user requests under normal load |
No information available | |
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DevOps Integration Support for continuous integration/deployment pipelines |
DevOps integration is supported for continuous integration/deployment as part of the modern development approach. | |
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Multi-tenant Architecture Ability to serve multiple business entities from a single installation |
The system has multi-tenant architecture capabilities to serve multiple business entities. |
Reporting and Analytics
(10 Yes /10 Known /12 Possible features)
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Standard Reports Pre-built reports for common banking operational needs |
Pre-built reports for common banking operational needs are included. | |
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Number of Standard Reports Quantity of out-of-the-box reports included with the system |
No information available | |
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Custom Report Builder Tools for creating and customizing reports without programming |
Custom report building capabilities are available within the platform. | |
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Regulatory Reporting Reports designed to meet specific regulatory requirements |
Regulatory reporting features are included in the compliance capabilities. | |
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Real-time Dashboards Visual displays of key metrics updated in real-time |
Real-time dashboards are supported through the platform's reporting features. | |
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Data Warehouse Integration Ability to feed banking data to enterprise data warehouses |
Data warehouse integration is supported through the API framework and export capabilities. | |
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Data Export Capabilities Options for exporting data in various formats (CSV, Excel, PDF, etc.) |
The platform provides data export capabilities in various formats. | |
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Business Intelligence Tools Built-in or integrated BI capabilities for data analysis |
Business intelligence tools are integrated or available through the platform's analytics capabilities. | |
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Scheduled Reporting Ability to schedule automated report generation and distribution |
Scheduled reporting functionality is available for automated report generation. | |
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Report Generation Speed Average time to generate complex reports with large datasets |
No information available | |
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Historical Data Access Access to archived data for reporting and analysis |
Access to archived data for reporting is supported through the data management capabilities. | |
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Predictive Analytics Advanced analytics capabilities for forecasting and customer behavior prediction |
Predictive analytics capabilities are likely available given the modern architecture and analytics focus. |
Integration Capabilities
(11 Yes /11 Known /12 Possible features)
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API Gateway Central point for managing APIs with security and monitoring |
An API gateway is included for managing APIs with security and monitoring as part of the API-first approach. | |
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Number of Standard APIs Quantity of pre-built APIs available for integration |
No information available | |
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ESB/Middleware Integration Compatibility with enterprise service buses or middleware platforms |
ESB/middleware integration is supported through the platform's API connectivity. | |
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File-based Integration Support for file transfers and batch processes |
File-based integration is supported for batch processes and data transfers. | |
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Real-time Integration Capability for real-time synchronous communication with other systems |
Real-time integration capability is a core feature of the platform's API-first architecture. | |
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Third-party Fintech Integration Pre-built connectors for common fintech solutions |
Pre-built connectors for fintech solutions are available through the API framework. | |
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Regulatory System Integration Interfaces with regulatory reporting systems and infrastructure |
Integration with regulatory reporting systems is supported for compliance purposes. | |
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Card Management System Integration Connectivity with card issuing and processing platforms |
Card management system integration is supported through the API connectivity. | |
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Integration Workflow Tools Visual tools for designing and managing integration processes |
Integration workflow tools are available as part of the workflow engine and integration capabilities. | |
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Integration Security Security features specific to external system connections |
Integration security is implemented through the advanced security features. | |
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Message Transformation Ability to convert data formats between systems |
Message transformation capabilities are part of the integration framework. | |
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Integration Monitoring Tools for monitoring the health and performance of integrations |
Integration monitoring tools are available for tracking integration health and performance. |
Implementation and Support
(9 Yes /9 Known /14 Possible features)
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Implementation Methodology Structured approach to system implementation and deployment |
The platform includes a structured implementation methodology as part of its deployment approach. | |
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Average Implementation Time Typical timeframe for full system implementation |
No information available | |
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Configuration Tools User-friendly tools for system configuration without coding |
User-friendly configuration tools are provided for system configuration without coding. | |
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Data Migration Tools Utilities for transferring data from legacy systems |
Data migration tools are available for transferring data from legacy systems. | |
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Training Materials Comprehensive documentation and training resources |
Comprehensive documentation and training resources are provided. | |
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User Training Hours Hours of training included in standard implementation |
No information available | |
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Support SLA Service level agreements for technical support and issue resolution |
Service level agreements for technical support are provided as part of the offering. | |
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Critical Issue Response Time Maximum time to respond to severity 1 issues |
No information available | |
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User Community Active community of users for knowledge sharing |
An active user community exists for knowledge sharing. | |
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Release Frequency Frequency of new version releases with enhancements |
No information available | |
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Sandbox Environment Availability of test environments for development and training |
Test environments for development and training are available. | |
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Implementation Partner Network Ecosystem of certified implementation partners |
Thought Machine maintains a network of implementation partners. | |
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Localization Capabilities Ability to adapt to local languages, regulations, and business practices |
The platform supports localization for different languages, regulations, and business practices. | |
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Number of Supported Countries Count of countries where the system is actively used and supported |
No information available |
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