Vault is built using an API micro service architecture. Each service represents a key function in the bank, deployed in containers through Kubernetes orchestration. This allows Vault to be deployed properly in the cloud, and take advantage of all the benefits of scalability, security and resilience.

Only a move to truly cloud native technology can help deliver a better customer banking experience.

Vault architecture
Vault’s architecture has been designed to run any type of bank, no matter what the complexity. This is achieved through a system of smart contracts. Vault comes with a range of standard retail banking products, as well as the tools for banks to customise or build their own. For once, a bank can be genuinely innovative in the scope of its product offering and differentiation.

Standard Vault banking products:

• Current/checking accounts
• Savings
• Loans
• Credit cards
• Mortgages

Every Vault financial product operates within a single framework sharing the same ledger and database. This leads to all data and transactions in Vault being real time and having a single source of truth.

Vault advantages
The cloud may be new to banking but it is not new in other sectors. Over the last 20 years the tech giants (notably Google and Amazon) have deployed all their software to the cloud and in so doing have developed tried and tested solutions to problems which face any technology: stability, security, resilience, cost.