21 Jan 2025: Omnea, the procurement orchestration platform, today announces a new partnership with Thought Machine, the cloud-native banking technology company. This collaboration equips Thought Machine to seamlessly embed third-party risk and financial governance within its procurement processes, delivering best-in-class user experience to requesters, reviewers, and suppliers.

Partnering with Omnea allows Thought Machine to consolidate legacy vendors and unify its third-party risk management processes, procurement intake and approvals, and supplier management processes within a single platform. Omnea makes it simple for employees to make requests and intelligently routes them to the proper security and finance reviewers. Additionally, it automatically sends security questionnaires to suppliers, enabling Thought Machine to maintain the highest level of risk management and compliance with operational resilience-focused regulation.

Nitesh Palana, Director of Risk and Compliance and Head of Government Affairs at Thought Machine, commented: "Omnea’s platform enables us to embed consistent security and compliance frameworks throughout our procurement processes to meet stringent regulatory standards such as DORA. After thoroughly reviewing the market, Omnea’s deep focus on risk management made them the clear choice to partner with to transform our procurement processes.”

‍Abhirukt Sapru, CCO at Omnea, commented: “Thought Machine is bringing banking infrastructure and payments into the modern age. We’re thrilled to partner in strengthening their third-party risk management posture, while delivering exceptional experiences throughout their end-to-end procurement processes.”

About Thought Machine

Thought Machine has developed the foundations of modern banking with its cloud-native core banking and payments technology. Its cloud-native core banking platform, Vault Core, is trusted by leading banks and financial institutions worldwide, including Intesa Sanpaolo, ING Bank Śląski, Lloyds Banking Group, Standard Chartered, SEB, Lunar, Atom bank, Curve, and more.

Vault Payments is a cloud-native payments processing platform – comprising a Universal Payment Engine to support all card and account-to-account payment types.

Vault Core and Vault Payments have been written from scratch as an entirely cloud-native system, giving banks full control to build any product required to flourish in a rapidly changing world.

Thought Machine is a global team spread across offices in London, New York, Singapore, and Sydney and has raised more than $500m in funding. For more information, visit thoughtmachine.net

About Omnea

Omnea is a procurement orchestration platform built around user-experience. With core offerings in procurement orchestration and automation, and additional specialisms in accounts payable and third-party risk management, Omnea is the only tool to holistically manage the full supplier lifecycle and provide a single source of truth for all supplier data. Omnea was founded in 2022, and is backed by Accel, Entrepreneur First, First Round Capital and Point Nine.