← Embedded Finance Index 2026/Vendor

Thought Machine

Provider
LedgerBaaS

Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 9 companies across 2 categories.

thoughtmachine.com ↗Also analysed as a company — its own stack →
CategoriesLedger, BaaS
Rank#6 of 19 in Ledger
Buyers9 companies
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Who uses Thought Machine
9 companies disclose Thought Machine in their stack
SlaskiMqubeShawbrooksBpifranceZigisMagyar BankholdingPaysetChase UKGbc
Buyer mix · 9 of 9 classified
Bank / Community · 2Bank / National · 2Fintech / Lending · 2Bank / Sponsor · 1Fintech / Consumer banking · 1Fintech / Cross-border payments · 1
UK · 4EU · 3
What the disclosures say
Slaski
“ibsintelligence.com confirms ING Bank Śląski went live with Thought Machine Vault as its core banking/ledger platform. ing.pl lending page confirms revolving credit and multi-product framework products.”
Mqube
“IBS Intelligence publicly lists Mqube as a Thought Machine customer: https://ibsintelligence.com/ibsi-news/mqube-taps-thought-machine-to-streamline-mortgage-lending/”
View source · ibsintelligence.com ↗
Shawbrooks
“Thought Machine listed as powering Shawbrook's digital transformation per IBS Intelligence (known_customer_listings).”
Bpifrance
“IBS Intelligence (ibsintelligence.com) publicly lists Bpifrance as a customer of Thought Machine, which provides the Vault core banking platform to power Bpifrance's SME finance offerings.”
Zigis
“IBS Intelligence publicly lists Zigis as a Thought Machine customer for digital credit growth: https://ibsintelligence.com/ibsi-news/thought-machine-enables-zigis-digital-credit-growth/. Thought Machine provides cloud-native core banking (Vault) which serves as both core ledger and banking infrastructure.”
View source · ibsintelligence.com ↗
Magyar Bankholding
“IBSIntelligence publicly lists Magyar Bankholding as a Thought Machine customer: 'Magyar Bankholding selects Thought Machine to launch digital bank' (ibsintelligence.com).”
The complete buyer list and each company’s full embedded-finance stack are in the Embedded Finance Index report. Represent Thought Machine? Claim this profile above to unlock your own full list.
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Alternatives to Thought Machine

Other Ledger providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.

Modern Treasury35 buyers →Mambu12 buyers →Formance10 buyers →Layer7 buyers →Temenos7 buyers →Sage Embedded Services4 buyers →TigerBeetle4 buyers →Finxact3 buyers →
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Ranked #6 of 19 in Ledger — Embedded Finance Index 2026
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