Banking software provider GFT and Thought Machine have launched a new cloud-based digital banking platform, dubbed BankLite.

The solution is designed to allow financial institutions to quickly create and deploy a cloud-based, digital banking entity.

The modular, end-to-end solution runs on Amazon Web Services (AWS).

It is being claimed that using BankLite’s pre-configured components, architecture and infrastructure, banks can create a virtual bank under twelve weeks.

The platform incorporates the new GFT Digital Bank Launcher accelerator (DBL).

BankLite is designed around Though Machine’s core banking platform Vault.

Thought Machine director of partnerships Steve Hoy said: “There is now an urgent need to invest in modern core banking technology enabling superior customer service capabilities, reducing complex technology environments, all the while achieving optimum operational efficiency.

“This is where BankLite, incorporating Vault, our cloud-native core banking solution comes into its own.”

GFT executive director and CTO Gonzalo Ruiz de Villa commented: “BankLite incorporates Digital Bank Launcher, GFT’S new cloud-native asset which has been developed to enable the modern core banking providers to supercharge the capabilities of their solutions.”

BankLite is backed by GFT’s cloud-native tool, Digital Bank Launcher, which provides scalability and security across full banking operations.