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Thought Machine

Category: High-Growth

Vertical: Enterprise Software

Website: https://www.thoughtmachine.net

Description:

Thought Machine is a UK-based growth stage technology company which builds cloud native technology for banks.

Founded in 2014 by CEO Paul Taylor, our mission is to enable banks to deploy modern core banking and move away from the legacy platforms that plague the banking industry. Thought Machines Core banking software is called Vault.

Vault has been written from scratch as a cloud native platform. Vault is completely flexible, and can be configured to run any type of bank. Smart contracts are used to implement the full range of banking products, from mortgages to current accounts, and its workflow engine is used to define the operating model of the bank.

All data runs in real time within the system, meaning data analytics and regulatory reporting can be fully automated. APIs create the ability to have fully automated customer interaction via mobile and web applications, greatly reducing the time and effort for customer interaction.

Banks across the globe are facing multiple levels of market disruption, including everything from rising customer expectations around services, continued pressure on margins, and increased costs of developing and maintaining their IT environments for currency and regulatory compliance.

Thought Machine has gained material market traction and made three major announcements in 2018, Atom Bank and Lloyds Banking Group as customers of Vault and IBM as a strategic global delivery partner.

Upcoming Events

29
Apr
Innovate Finance Global Summit 2019
Location: Guildhall, Gresham St, London EC2V 7HH
Now in its 5th year the annual Innovate Finance Global Summit is once again taking over London and the historic...
29
Apr
UK FinTech Week
Location: London
UK FinTech Week (UKFW) will launch across the country from April 29th to May 3rd 2019. UKFW will be a...
15
May
Public Policy Forum
Location: London
Innovate Finance is delighted to invite you to our regular Public Policy Forum on 15 May 2019.  The Public Policy...