Thought Machine
Thought Machine is the global leader in cloud-native core banking technology, empowering financial institutions to accelerate digital transformation with innovative, flexible solutions.About:
Thought Machine provides cutting-edge cloud-native core banking and payments technology through its flagship products, Vault Core and Vault Payments. Companies use Thought Machine to modernize their banking infrastructure, create innovative financial products, and compete effectively in the digital age. The platform's Universal Product Engine offers unparalleled flexibility in designing and launching new banking products using smart contracts. Thought Machine's technology enables banks to streamline operations, reduce costs, and deliver superior customer experiences by leveraging cloud infrastructure and real-time data access. With its ability to support any banking product, payment type, or integration, Thought Machine empowers financial institutions to remain agile and future-proof in a rapidly evolving industry.
Best fit for:
Employee Count: 500-100,000+
Location: Global, with focus on UK, US, Europe, and Asia-Pacific
Industries: Banking, Financial Services, Fintech
Job Titles: CTO, CFO, Head of Digital Banking, Chief Innovation Officer, VP of Technology
Key Features:
- Universal Product Engine: Design and launch any banking product using flexible smart contracts.
- Cloud-Native Architecture: Run natively on any major cloud infrastructure for scalability and resilience.
- Real-Time Data Streaming: Access and process financial data in real-time for improved decision-making.
- Flexible Integration: Connect seamlessly with existing systems and third-party services via APIs.
- Simulation Framework: Test and validate product designs over long periods before deployment.
- Vault Payments: Process all types of global payments through a unified platform.
Company Summary
Thought Machine is a company that creates modern computer programs to help banks manage their money and services more efficiently. They build tools that run in the cloud, which means banks can access them over the internet without needing special equipment. This helps banks offer better services to their customers. (thoughtmachine.net)
Price Estimate
Thought Machine doesn’t list specific prices on their website. The cost likely depends on the size of the bank and the services they choose. Banks interested in using Thought Machine’s products should contact the company directly to get detailed pricing information.
Who is Thought Machine for?
Thought Machine is designed for banks and financial institutions of various sizes, from small regional banks to large multinational banks. Typical users include:
- Chief Technology Officers (CTOs)
- Chief Information Officers (CIOs)
- Product Managers
- Operations Managers
- Software Engineers
Industries served primarily include:
- Banking
- Financial Services
- Fintech Companies
- Credit Unions
- Investment Firms
Features, Functionalities, and Benefits
Thought Machine offers several key features:
Vault Core: A cloud-native core banking platform that allows banks to create and manage financial products like savings accounts, loans, and mortgages. (thoughtmachine.net)
Vault Payments: A cloud-native payments processing platform that supports various payment types and methods globally. (thoughtmachine.net)
Cloud-Native Architecture: Built from scratch to run in the cloud, providing scalability, high availability, and flexibility. (thoughtmachine.net)
Configurability: Banks can build and launch any product they can imagine without constraints, using an API-first architecture. (thoughtmachine.net)
Operational Resilience: Supports running any product or payment scheme on a single platform, giving banks full control over their operations. (thoughtmachine.net)
Use Cases
Banks use Thought Machine’s products in various ways:
Core Banking Modernization: Replacing outdated systems with Vault Core to improve efficiency and offer new services. (thoughtmachine.net)
Launching New Financial Products: Quickly creating and offering new products like buy-now-pay-later services or combined debit and credit cards. (thoughtmachine.net)
Global Payment Processing: Using Vault Payments to handle various payment types and methods across different regions. (thoughtmachine.net)
Who Are Their Best Customers?
Notable customers include:
JPMorgan Chase: Utilizing Thought Machine’s technology to modernize their core banking systems. (businesswire.com)
Lloyds Banking Group: An early investor and user of Thought Machine’s Vault Core for their digital transformation. (businesswire.com)
Standard Chartered: Deploying Vault Core to launch new digital banking services. (thoughtmachine.net)
What Makes Thought Machine Different?
Thought Machine stands out by offering a cloud-native core banking platform built from scratch, free from legacy code. This design provides banks with unparalleled flexibility, scalability, and control over their financial products and services. (thoughtmachine.net)
Legal Info:
For information about how Thought Machine uses your data, please read their Privacy Policy. Their Terms of Service are also available for review.
More Demos (1)
Interactive Demos (0)
Useful Links & Resources
Related companies