Thought Machine


Enterprise Software

Once, banks were pioneers in technology and to an extent this is a root cause of their current problems: by being early they never got the chance to start again with fresh thinking and new designs. Today they are crippled by dozens or hundreds of systems patched together.

The cost of legacy systems is astonishing. Tier 1 banks spend billions of dollars just to keep their systems working, many employ tens of thousands of developers. Only a move to the cloud and new technology can solve these problems.

Thought Machine was founded in 2014 with a mission to enable banks to deploy modern systems and move away from the legacy IT platforms that plague the banking industry. We do this through our cloud native core banking platform, Vault. This next generation system has been written from scratch as an entirely cloud native platform. It does not contain a single line of code which is legacy, or pre-cloud.

Founded by entrepreneur Paul Taylor, Thought Machine’s customers include Lloyds Banking Group, SEB, Standard Chartered, Atom bank, Monese and Curve. We are currently a team of more than 400 people spread across offices in London and Singapore and have raised more than £110m in funding from Eurazeo Growth, Draper Esprit, SEB, British Patient Capital, IQ Capital, Playfair Capital, Lloyds Banking Group and Backed.

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Team Members

Gemma Gardiner

CFO, Thought Machine

Paul Taylor

Founder & CEO, Thought Machine