Many banks have an ambition to deliver better technology to their customers, but are held back by legacy platforms and technology. The cost of change is huge, and the cost of operations is too expensive because of an inability to automate processes. Banks spend an incredible amount just to stand still.
Thought Machine is delivering a new era in banking using truly cloud native technology.
Founded in 2014 by Paul Taylor, Thought Machine’s now has a rapidly growing customer base, with Tier1 banks, challengers and fin-techs represented and including Lloyds Bank, SEB, Standard Chartered and Atom Bank.
IQ Capital led seed round in 2016 and followed through to Series A and Series B in 2020, investing in excess of £20m to-date.