Mox promises “next generation banking” through a cloud-based bank “built from the ground up”. Standard Chartered views the venture as a continuation of its retail banking digitisation.
Thought Machine provides Mox’s core banking system. It’s also using payments processor Paymentology, Oracle’s Netsuite, and working with FICO to build out its credit business.
The bank’s cards omit expiry dates and card verification values (CVVs) to reduce the risk of fraud and loss of personal information. All card information is instead available through the bank’s mobile application.