Vault
“Can a cloud-native core banking platform replace legacy infrastructure for tier-1 banks and fintechs globally while expanding into payments and cards processing?”
Founded2014
HQLondon, UK
FoundersPaul Taylor
IndustryInfrastructure / BaaS
The story
Thought Machine was founded to replace legacy core banking systems with a cloud-native alternative. The Vault platform uses smart contract-based Product Library to define financial products flexibly. The 2024 launch of Vault Payments extended the platform from core banking into cards and payments processing, broadening the embedded finance infrastructure offering for bank and fintech clients.
Product timeline
2014
Thought Machine founded in London by Paul Taylor, initially focused on cloud-native core banking technology.· banking
2019
Vault core banking platform commercially launched, offering smart contract-based account definitions on cloud infrastructure.· banking
2024
Thought Machine launches Vault Payments, a dedicated cards and payments processing platform extending Vault's capabilities.· card
The stack
Payments / PSP
Banking / BaaS
Ledger
Accounting gap: none