Selects Vault
“Can a cloud-native core banking engine replace legacy mainframes at Tier-1 global banks?”
Founded2014
HQLondon, UK
FoundersPaul Taylor
IndustryInfrastructure / BaaS
The story
Thought Machine built Vault as a cloud-native core banking engine designed to replace legacy mainframe systems at large financial institutions. The platform uses a smart contract language (Vault Smart Contracts) to define financial product logic, enabling banks to configure products without core system changes. Intesa Sanpaolo's $40M investment and Vault selection signals Vault's traction with Tier-1 European banks seeking digital transformation.
Last 12 months
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Product timeline
2014
Thought Machine founded by Paul Taylor (ex-Google) to build a cloud-native core banking platform called Vault.· banking
2021
Intesa Sanpaolo invested $40M into Thought Machine and selected Vault to power a new digital banking platform.· banking
The stack
Accounting gap: none