Case Study: Afin Bank accelerates inclusive mortgage banking with Thought Machine

Afin Bank launches a full banking suite in under nine months with Thought Machine

Afin Bank partnered with Thought Machine to overcome the challenge of financial exclusion for underserved borrowers in the UK, such as the African diaspora, foreign nationals, and the self-employed. Mainstream lenders' rigid systems often rejected these customers due to non-standard income or a lack of UK credit history. Afin selected Thought Machine's Vault Core platform to build a new digital bank capable of creating more inclusive financial products.

Utilizing Thought Machine's cloud-native Vault Core platform and its smart contract technology, Afin Bank rapidly designed and launched a suite of mortgage and savings products. The solution enabled a human-centric underwriting process that considered a borrower's full financial context. As a result, Afin achieved an exceptional time-to-market, becoming a fully operational bank in under nine months and establishing a new benchmark for serving underserved communities.

Afin Bank