Configurable core banking with Smart Contracts
summary
Thought Machine’s Vault is a cloud native core ledger that runs bank product logic as deployable smart contracts (no blockchain) so banks keep high transaction speed and privacy while embedding terms and automation. Contracts use a predefined set of about 10 hooks (payment, lifecycle, scheduled events) and a subset of Python language; on each payment the engine fetches and executes the account’s contract which may post additional payments (fees). A built-in simulation framework runs years of scenarios to validate products before activation.
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chapters (5)
- 0:00Introduction and speaker bio
- 1:48Smart contracts overview
- 13:52Traditional banking challenges
- 22:49Thought Machine’s solution
- 37:12Key takeaways and conclusion
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