Thought Machine is headquartered in London, with additional offices located in New York, Singapore, Melbourne and Sydney. We have 567 full time employees globally, with 360 employees based out of the London office. Thought Machine provides Core Banking Services, and in terms of vision, many banks have the ambition to deliver better technology to their customers, but are held back by the legacy platforms and technology. Banks spend an incredible amount just to stand still. Cost of change is huge, and the cost of operations is too expensive because of an inability to automate processes. Banks have built interface layers with more modern technology, but there is only so far you can go before the foundations themselves have to be replaced. Building the new foundations for banking is Thought Machine’s mission.

Vault has been written from scratch by Thought Machine to be a cloud native modern core banking platform alternative to the legacy platforms that plague the banking industry. It can be deployed on the major public cloud platforms like GCP.

Vault can run any type of banking products, from mortgages to current accounts. It has a workflow engine which defines how the bank operates. All data runs in real time within the system, meaning data analytics and regulatory reporting can be fully automated. Customer Apps and APIs create the ability to have fully automated customer interaction.

Thought Machine currently has 51 signed MSA's with numerous clients either live in production or live in beta inclusive of 11 Tier 1 banks, 4 Tier 2 banks, 8 Tier 3 banks, 10 Tier 4 banks & 11 Fintech companies. Please note that although we have 51 signed MSA’s, some of these represent separate deals with one specific bank, hence why only 46 banks and Fintechs are listed here, with 13 of our signed MSA's being UK clients. We can confirm that 26 clients are currently live in production, and this includes a multitude of products, ranging from BNPL, DDA, Credit Cards, Current Accounts, Personal Deposit Accounts, Reward Accounts, SME Unsecured Loans and Transaction Accounts etc. The spread of our institutions is global with clients in all continents.