CEO
Thought Machine
Thought Machine provides Vault Core, a cloud‑native core banking platform, and Vault Payments, a unified payments processing engine, both built from scratch to run on any cloud provider. The API‑first, smart‑contract based architecture lets banks migrate existing product portfolios, launch new financial products, and process all payment types globally with real‑time ledgers and a library of over 200 pre‑configured offerings.
- Enterprise Software
- Financial Technology
Updated 3 days ago
Funding
Raised to date
$381.9MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
across 5 rounds
+13£44.8M · Undisclosed
Announced Jul 2025
Disclosed cumulative: $381.9M
5/5
RoundDateAmountValuationInvestors
Founders
Product
Problem
Traditional core banking and payments systems are built on legacy, monolithic codebases that are inflexible, costly to maintain, and difficult to scale in the cloud. Banks using such systems cannot quickly launch new financial products, adapt to regulatory changes, or support modern payment standards like ISO 20022 without extensive development effort.
Solution
Thought Machine offers Vault Core, a cloud‑native core banking platform, and Vault Payments, a unified payments processing engine, both built from scratch without legacy code. The platforms use an API‑first architecture and a smart‑contract based Universal Product Engine, allowing banks to define, configure, and modify any financial product or payment flow through code‑level contracts rather than vendor‑locked screens. Banks can migrate existing product portfolios, launch new offerings—including multi‑currency accounts, buy‑now‑pay‑later, and Islamic finance products—and process all payment types globally on a single, horizontally scalable platform. Real‑time ledgers, simulation tools, and a rich product library accelerate development, testing, and compliance, while cloud‑agnostic deployment gives banks flexibility over hosting providers.
Target Audience
Vault Core and Vault Payments are targeted at retail, private, SME, and corporate banks, as well as challenger banks and fintechs that need a flexible, cloud‑native core and payments infrastructure to launch and evolve financial products rapidly.
Features
- Cloud‑native, horizontally scalable architecture with continuous deployment, high availability, and self‑healing capabilities
- Smart‑contract based Universal Product Engine enabling product‑as‑code creation, instant updates, and versioning via a configuration layer
- Extensive Product Library with over 200 pre‑configured products covering deposits, loans, mortgages, credit cards, wallets, and Shariah‑compliant offerings
- Real‑time ledger streaming for AI, reporting, and regulatory analytics
- Vault Payments processes any payment type on a single engine, natively supports ISO 20022, and includes built‑in card issuing on Mastercard/Visa networks
- API‑first design and integration library for seamless connection to AML, fraud, core banking, and third‑party services
- Simulation environment for pre‑launch product behavior testing and customer‑facing performance forecasts
- Enablement Portal with documentation, training, and certification to empower bank teams to self‑manage the platform