- Jordan Ahli Bank has tapped Thought Machine to launch its new social payments app.
- Qawn, the new app, is built on Thought Machine’s Vault Core cloud-native core banking platform.
- Using Vault Core’s Universal Product Engine, Jordan Ahli Bank was able to tailor the new app to its diverse customer base.
Core banking technology provider Thought Machine is helping Jordan Ahli Bank launch Qawn, its new social payments app.
Powering Qawn is Thought Machine’s Vault Core cloud-native core banking platform. The banking technology provider’s Universal Product Engine enabled Jordan Ahli Bank to customize the tool based on its customers’ needs.
“Our aim is to help people prosper by creating a social financial experience that addresses real-life problems with cutting-edge technology,” said Jordan Ahli Bank Chief Innovation Officer Nidal Khalifeh. “Money is inherently social, and we want to reinvent digital money with a social aspect. Our app is designed to be secure, user-friendly, and to offer guidance with a focus on technology.”
With Qawn, Jordan Ahli Bank is helping a diverse group of users to send and receive money, request payments through chat, or scan a QR code for hassle-free money management. The app, which supports both Arabic and English languages, is also aimed at commercial banking users and can function as a payment acceptance tool.
Thought Machine was founded in 2014 and has since raised $563 million in funding. The U.K.-based company offers two main products: Vault Core, a tool that leverages smart contracts to help organizations design and build new financial products; and Vault Payments, a payments processing platform that enables banks to run all payment types for different payment methods, schemes, and regions across the globe.
“Bringing Qawn to the market is just the start – we look forward to expanding our partnership with Jordan Ahli Bank to bring further innovative financial solutions to Jordan, and elsewhere in the MENA region,” said Thought Machine CEO and Founder Paul Taylor.