Trafalgar partners with Thought Machine to introduce “turbofintech” in Mexico, utilizing next-gen core technology for digital cards and more.
Together with Thought Machine, a cloud-native banking technology business, Trafalgar, a Mexico-based financial services provider for SMEs (regulated SOFIPO), has developed a Mexican fintech called “turbofintech,” which is built on next-generation core technology.
Trafalgar will create a range of extra financial services utilizing Thought Machine’s main banking technology, Vault main. Digital cards, point-of-sale systems, digital authentication, and other items are among them.
Turbofintech will be introduced by Trafalgar in the second quarter of 2024. This collaboration is a significant step toward the empowerment of Mexican SMEs, which are vital to the country’s economy. By offering the digital tools required for success in a changing market, it seeks to achieve this.
“Our vision is to combine the agility and innovation of fintech with the reach and impact of traditional banks to create the industry’s first turbofintech,” says Porfirio Sanchez Talavera, founder and CEO of Trafalgar. As a result, we will be able to completely change the financial landscape for SMEs in Mexico. The obvious option for achieving our goal of excellence is Thought Machine.
The audience of turbofintech
There will be a lot of services available on this platform. Credit cards, lending, borrowing, and other activities are a few examples. It seeks to provide SMEs with digital and customized solutions while overcoming the shortcomings of traditional banks.
Trafalgar selected the Vault Core from Thought Machine due to its ease of use and adaptability. Vault Core is an API-first, cloud-native core banking platform with special powers for developing new products. With the help of this feature, Trafalgar will be able to easily develop cutting-edge financial solutions for Mexico’s SMEs.
Trafalgar is the first customer of Thought Machine in the Mexican market. Additionally, Thought Machine has a history of supporting the upcoming generation of financial service providers in Latin America, as demonstrated by its recent partnerships with Cordada in Chile and C6 Bank in Brazil.
“We look forward to supporting Trafalgar in bringing the benefits of truly cloud-native technology to the Mexican market,” says Thought Machine CEO and founder Paul Taylor.
