By combining Thought Machine’s modular, cloud-native core banking platform and architecture with McKinsey’s expertise in core banking – including certified practitioners – and proven track record of technical change management and value assurance, we help clients maximize impact and business outcomes from their core banking migrations, often in the context of broader digital transformations.

Client Impact

Developing ‘banking-as-a-service’ for a bank in Asia

We collaborated to build a ‘banking-as-a-service’ (BaaS) platform for a leading private sector bank in Asia. Together, we helped design the overall product roadmap, technology architecture and target state operating model for several retail-focused lending, credit and deposit products that are now offered by the bank.

Building a digital bank for a leading European institution

Working together, we helped a leading European institution build a digital bank. From evaluating the business and technical aspects of the solution, to the design of the target architecture, and the implementation and configuration of the target technology backbone, we stood the digital bank up within 12-to-18 months.

Migrating a multi-national bank to the cloud

We designed and deployed an end-to-end re-platforming for an Asian-based bank. Our work enabled the bank’s legacy technologies to seamlessly migrate to a cloud-native banking platform, moving business and retail products onto the new platform and creating a sophisticated data platform to manage data lineage and governance access across multiple cores.

Related practices

McKinsey Digital

Learn how we help clients use digital to create value by reinventing the core of their business.

Financial Services

Learn how we help financial services firms improve performance. We offer a global perspective and cover all banking and insurance sectors and capabilities.