Thought Machine
Cloud-based core banking and payments platform
Account Director
About the job
- Spanish fluency.
- A proven track record in enhancing client engagement, driving revenue growth, and identifying new opportunities within existing accounts.
- Strong ability to build and maintain deep client relationships, including experience managing high-level stakeholders up to executive level.
- Comprehensive understanding of banking organizations, their cultures, markets, and operational dynamics.
- Previous involvement in technology transformation projects within financial institutions, coupled with experience in relationship or account management.
- Knowledge of financial products and key business metrics within banking, such as cost-income ratios and net interest margin.
- Experience managing multiple projects simultaneously with meticulous attention to detail.
- Excellent negotiation, verbal, and written communication skills.
- Develop and execute annual account plans aligned with Thought Machine and client strategic priorities, ensuring stakeholder buy-in and adapting plans as needed.
- Manage client renewals.
- Establish and nurture trusted advisor relationships with key account business, technology and operations stakeholders and executive sponsors, serving as a key point of contact between the client and Thought Machine.
- Collaborate closely with internal teams to ensure exceptional client satisfaction and successful project delivery.
- Provide clear and regular updates on initiative progress to both internal and external stakeholders.
- Monitor and analyse client product usage, forecast key account metrics, and drive net new revenue growth through proactive account management.
- Assist clients in crafting internal and external communications, including system demonstrations, presentations, workshops, and business case development.
About the company
ThoughtMachine provides a cloud-based platform for banks to design, deploy, and manage financial products and payment systems. Its Vault Core is a cloud-native core banking system that banks can host with their chosen provider and customize via a library of over 200 preconfigured products. Vault Payments handles all payment types and regions and connects to core offerings, enabling full payment life-cycle control. Built with an API-first architecture and pre-integrated smart contracts, the platform avoids legacy code and charges banks for using the platform and services.
Company Size
501-1,000
Company Stage
Late Stage VC
Total Funding
$619.1M
Headquarters
London, United Kingdom
Founded
2014
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Simplify's Take
What believers are saying
- Revenue passed $100 million in 2025, up 57%; ARR exceeded $100 million in Q2 2026.
- Pathward and US Senate Federal Credit Union chose Vault Core in August and May 2026.
- Positive free cash flow in H2 2025 and £30 million July 2026 funding extend runway.
What critics are saying
- Deutsche Bank migrations start in 2027; any rollout failure damages Thought Machine's flagship credibility.
- Tier-1 concentration creates customer power risk; one stalled migration can freeze revenue recognition.
- Temenos, Mambu, and 10x Banking attack the same core-modernization budget; pricing pressure rises by 2027.
What makes Thought Machine unique
- Vault Core and Vault Payments run one real-time ledger across banking and payments.
- Thought Machine won Deutsche Bank on August 27, 2026 for a 10-year Germany overhaul.
- It now counts 20 tier-1 banks and 68 total bank clients worldwide.
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Benefits
Health Insurance
Vision Insurance
Dental Insurance
Paid Vacation
Unlimited Paid Time Off
401(k) Company Match
Health Savings Account/Flexible Spending Account
Stock Options
Commuter Benefits
Life Insurance
Disability Insurance
Parental Leave
Flexible Work Hours
Meal Benefits
Professional Development Budget
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↑ 0%2 year growth
↓ -2%British Business Bank backs Molten Ventures' £175m growth fund. First close includes cornerstone commitment from national development bank as listed investor targets final fund size of £350m Tech investor Molten Ventures plc has announced the first close of its Growth Fund at £175 million. The fund is a continuation of Molten's existing investment strategy of Series B+ investments, with a track record of more than 40 deals and over £700m invested in the past 10 years. The fund offers private institutional capital the opportunity to invest at scale through a private fund structure, while benefiting from the public vehicle's platform and governance. The British Business Bank has committed £75m as its cornerstone investor. Molten Ventures has committed the remaining £100m of the first close and will continue to seek additional investors, with the aim of growing the Growth Fund to a target of £350m. The Growth Fund will invest in companies at the forefront of innovation across key technology sectors including space, AI, FinTech, quantum, DeepTech and hardware, providing them with the liquidity they need to compete globally, while giving Molten greater ability to build meaningful ownership positions in high-conviction businesses. The British Business Bank has been an investor in Molten's listed platform since 2018 and has co-invested alongside Molten in several high-growth UK technology companies, including SatVu, IMU Biosciences, Thought Machine and Paragraf. "Securing the British Business Bank as cornerstone investor is a strong endorsement of Molten's strategy and of the relationship we have built over many years," said Molten Ventures CEO Ben Wilkinson (pictured). "It also underlines the importance of bringing more long-term institutional capital into venture and Growth, so that ambitious UK and European technology companies have the backing they need to scale. "Molten has a strong track record in growth investing, with more than 40 growth-profile deals completed and over £700m invested. The Growth Fund builds on that experience and gives us a dedicated vehicle to support more companies as they scale. "There is no shortage of exceptional founders or technology businesses in the UK and Europe; what they too often lack is sufficient growth capital to help them become global leaders. "This Fund gives Molten greater firepower to back our highest-conviction companies at Series B and beyond, build meaningful ownership positions and channel capital into the next generation of growth. "Alongside our other strategies, including Molten Secondaries, the Growth Fund will strengthen our ability to connect long-term capital with companies that are shaping the future." Robert Greenwood, senior director, funds at British Business Bank, said: "To create deeper pools of late-stage capital for breakthrough technologies, we are helping UK tech investors to launch new growth funds. This commitment is the latest example of that strategy. "Molten Ventures is one of the UK's leading growth investors, with a strong track record of backing fast-growing technology businesses. This fund will help the next generation of tech entrepreneurs scale faster and build global companies from the UK."
Deutsche Bank cites progress in technology revamp at retail division. 27 Aug 2026 03:58PM Add CNA as a trusted source to help Google better understand and surface our content in search results. FRANKFURT, Aug 27: Deutsche Bank said on Thursday that it has made progress in simplifying legacy technology at its retail division. - Specifically, the bank has chosen a new so-called core banking system as it seeks to reduce 15 systems to two. - The bank said it is "an important milestone in the multi-year transformation of its technology infrastructure." - It follows past stumbles that included a botched integration of Postbank, which left customers complaining that they were locked out of their accounts and unable to reach call centres. - The system Deutsche Bank has chosen is Thought Machine's Vault Core platform. - The core platforms are central systems that run the bank's products and services.
Pathward selects Thought Machine's Vault Core. The South Dakota-headquartered institution will replace its foundational legacy software with the London vendor's central ledger platform. Tyler Pathe, Senior Reporter, FinTech Futures August 21, 2026 Pathward, a national US bank specialising in payments sponsorship and commercial finance, is migrating its central infrastructure over to the Vault Core system developed by London-headquartered vendor Thought Machine. Vault Core serves as a universal product engine and central ledger for accounts and transactions. The system leverages smart contracts in product design, with options to extend across transaction accounts, savings, loans, mortgages, and credit cards. The migration brings real-time development capabilities to Pathward, and "reinforces Pathward's technical independence to swiftly design and deploy bespoke financial solutions", Thought Machine said in announcing its latest client. Charles Ingram, chief information and operations officer at Pathward, is overseeing the move to Vault Core. He joined Pathward in 2020, following time at Nextiva and Pfizer, and ascended to this current position last year. In comments, Ingram reveals that work to update the company's core has "been underway for some time", with Vault Core to provide "a stronger foundation for responsible innovation and expanding access to financial solutions that can evolve with the market". Pathward, formerly MetaBank, currently operates as an issuing bank, providing infrastructure for business clients to issue prepaid cards, manage digital wallets, and process tax-refund deposits. Alongside its payment sponsorship business, the South Dakota-headquartered bank also runs a commercial lending division that provides structured loans, asset-based lending, and equipment financing directly to businesses. Other regional Vault Core users include Mascoma Bank, Arvest Bank, M1 Finance, and JP Morgan Chase, which is thought to be Thought Machine's most high-profile US client win to date. Senior Reporter, FinTech Futures Tyler Pathe is a financial reporter, moderator and investigator with a specific interest in financial technology, banking and the financial industry's latest innovations.
Tier 1 market dominance drives Thought Machine revenue past $100M milestone. * Core Banking * 06.07.2026 09:25 am Thought Machine, the cloud-native core banking and payments technology company, today announced it has surpassed the $100m total revenue threshold for the financial year ending December 2025, as verified by the filing of its audited accounts. This milestone reflects a 57% year-on-year (YoY) increase in total revenue. Driven by multi-year commitments for several tier 1 bank migrations, the company's ARR also crossed the $100m threshold as of Q2 2026. This momentum is anchored by Thought Machine's leadership in the tier 1 banking space, where its client base now includes 18 of the world's largest institutions, more than 10% of the global market. Thought Machine has established a larger enterprise footprint than all next-generation competitors combined, demonstrating the operational maturity and engineering resilience of its Vault platform. This recent commercial success means that Thought Machine has now signed 68 banks globally. This rapid revenue growth allowed the company to achieve positive free cash flow in the second half of 2025, and with the support of a highly predictable revenue model of long-term contracts, Thought Machine has established a clear path to sustained profitability. Backed by a strong balance sheet, Thought Machine is investing in three core areas: * R&D expansion: Thought Machine has opened a new engineering office in Lisbon and is rapidly expanding headcount at its London HQ, with plans to onboard more than 100 new engineers in 2026. * AI leadership: Thought Machine has always been on the leading edge of technology and has spearheaded the transformation of core banking into cloud computing. It is now leading the next revolution by using AI to accelerate migrations, power agentic commerce, and automate bank operations. * Market expansion: Thought Machine now has clients in over 30 countries. Following a record year in sales in the Americas and rapid adoption of the Vault platform in Latin America, the company has opened a new office in Miami to complement its regional HQ in New York. "Crossing the $100m revenue threshold proves that the world's largest banks are no longer thinking of cloud-native core technology as being solely for greenfield business, they are deploying it at scale for full bank migrations," said Paul Taylor, CEO and Founder of Thought Machine. "We have established clear leadership in the tier 1 market because our platform properly fulfills the needs of banks at scale. With a strong balance sheet backed directly by our customer-investors, we have the financial maturity and the technology to power any bank, of any size, anywhere in the world."
UK fintech Thought Machine has secured £30 million ($41 million) in funding from an unnamed tier 1 bank, bringing its total raised to £80 million. The company, which provides cloud-based banking services to institutions including Lloyds, JP Morgan Chase, and Intesa Sanpaolo, has surpassed $100 million in annual revenues for the first time, marking a 57% increase year-on-year. The firm also reduced losses from nearly £70 million to around £12 million in the period. CEO Paul Taylor said the company prefers to emphasise commercial success over valuations, noting that revenues are a better indicator of performance. Thought Machine's valuation reached $2.7 billion in 2022. Taylor said conditions remain difficult for a London IPO, with any listing at least two years away. The company employs around 530 people, with only 15% of revenues coming from the UK.