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TBC Group’s SPACE International Partners with Global Tech Consultancy Thoughtworks
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Thoughtworks (TWKS) partners with Space International to enhance its digital banking platform, supporting its expansion in the Caucasus and Central Asia. The project aims to modernize Space International’s engineering processes, enabling growth and scalability. Notably, Space International has achieved three million users in under three years. The collaboration emphasizes using microservices and modern practices to improve agility and customer experience. Thoughtworks was selected for its practical approach to technology transformation, marking a significant relationship in the region.
Positive
Partnership with Space International aims to enhance digital banking capabilities.
Space International experienced rapid growth with three million users in under three years.
Focus on modernization and scalability may enhance competitive edge.
Negative
None.
Thoughtworks will enable Space International to further accelerate and increase its scalability to support the growth in current and future markets
HAMBURG, Germany--(BUSINESS WIRE)--
Space International, the first regional cross-border digital banking platform, partnered with Thoughtworks (NASDAQ: TWKS), a global technology consultancy, on its first project in the Caucasus and Central Asia Regions. In support of Space International’s tech transformation, Thoughtworks will help further strengthen its engineering culture and technical architecture with the introduction of innovative ways of working. The project will help Space Intl. achieve its long-term goals with the ambitious aim of providing extraordinary banking experiences for its customers.
Space Intl. went through an intensive growth stage in the past three years that increased the complexity and further challenged scalability. The ambition of the parent company of Space Intl. – TBC Bank Group PLC- is to expand to additional geographies after its successful launch in Georgia and Uzbekistan, where it reached up to three million registered users in less than three years of operations. Modernization of the tech stack, discovering new ways of working and accessing the best-in-class tools and practices are strategic steps for Space Intl. to accelerate faster and achieve the necessary scale to support its growth and geographic expansion.
“We are excited to embark on this new project to provide enhanced agility into our system with microservices by using cutting-edge tools and modern practices,” said the modernization project lead from Space International – Giorgi Zhorzholiani. “This will enable us to build a more flexible and scalable system that will provide opportunities for our team members to learn and grow as they work with the latest technologies and talent from Thoughtworks Germany, India and other offices.”
After an extensive selection process, Space Intl. chose Thoughtworks, which kicked off the project through multiple collaborative workshops with stakeholders, to discover the broad goals and outcomes. “We chose Thoughtworks because they provide real assessments and practical, implementable recommendations. It is a world-leading consultancy specifically dedicated to the technology industry. Through a collaborative delivery model, we will work together towards our mutual goals, enabling our team at Space International to continue driving modern software delivery and innovation independently. And finally we are very proud to be Thoughtworks’ first partners in Georgia and the region,” said Nika Kurdiani, CEO at Space International.
“There are many powerful reasons to explore modernization including to increase agility to keep pace with customer demands and growth and geographic expansion,” said Frank Pototzki, director of Strategic Business Development, Thoughtworks Germany. “Thoughtworks is excited to partner with Space International as it takes a holistic approach to transforming its architecture, applications and engineering culture to achieve its business goals now and beyond.”
Supporting resources:
Keep up with Thoughtworks news by visiting the company’s website
Space International is the first regional cross-border digital banking platform that enables TBC Group to expand its digital banking operations internationally. Space was first launched in Georgia as a neobank in a record time of eight months and, later in 2020, in Uzbekistan under the brand name TBC Uz. Space provides all modules and systems required to roll out a digital bank or to be integrated into the existing ecosystem. Its built-in digital product portfolio enables fast rollout on the market and continues delivery of new features and improvements. Space delivers a full daily banking mobile service with superior customer experience, placing a special focus on differentiating by design, customer care, price transparency, and instant service delivery.
About TBC Bank Group PLC (“TBC PLC”)
TBC Bank Group PLC ("TBC PLC") is a public limited company registered in England and Wales. TBC PLC is the parent company of JSC TBC Bank ("TBC Bank") and a group of companies that principally operate in Georgia in the financial sector and other closely related fields. TBC PLC also recently expanded its operations into Uzbekistan. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of FTSE 250 Index. It is also a member of the FTSE4Good Index Series and the MSCI United Kingdom Small Cap Index.
TBC Bank, together with its subsidiaries, is a leading universal banking group in Georgia, with a total market share of 38.8% of customer loans and 40.0% of customer deposits as of 30 September 2022, according to data published by the National Bank of Georgia.
Thoughtworks is a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. We are over 12,500 people strong across 50 offices in 18 countries. Over the last 25+ years, we’ve delivered extraordinary impact together with our clients by helping them solve complex business problems with technology as the differentiator.
