THOUGHT-MACHINE
23.9.2020 10:02:14 CEST | Business Wire | Press release
Thought Machine, the cloud native core banking technology company today announces the appointment of Andy Maguire as Chair. Maguire, former Group Chief Operating Officer of HSBC, joins Thought Machine effective immediately. At HSBC, Maguire led the bank’s IT, business operations, change support, procurement and real estate services. Prior to HSBC, Maguire was Boston Consulting Group’s managing partner for the UK and Ireland, and a member of their global executive committee.
Maguire’s appointment comes at a time of significant momentum for Thought Machine, which recently closed its series B round at $125m, the fourth largest fundraising round in UK fintech this year. Furthermore, Thought Machine has added more than 150 employees in 2020 and has made a number of key senior hires in Q2 including Nicole Jude as Chief People Officer. Nicole recently led HR and people functions at Diligent Corporation and Bloomberg.
The appointment of Maguire happens against the backdrop of banks around the world increasingly demanding future-proof core banking infrastructure. Thought Machine will be announcing a number of new clients in the coming months. As the company pursues its internationalisation strategy, Thought Machine is strengthening its board with Maguire’s experience in driving banking transformation at HSBC, a world-leading financial institution serving more than 40 million customers in more than 64 countries.
Maguire will take over from Richard Little, software entrepreneur, angel investor and non executive director in software and technology businesses. Little has chaired Thought Machine since 2016, overseeing its growth from 40 employees to more than 400 today. His experience in growing software businesses has been invaluable in guiding Thought Machine’s expansion into new overseas markets and going live with several leading banks.
Founded in 2014 by Google engineer Paul Taylor, Thought Machine is delivering cloud native core banking technology to leading banks around the world. Currently Thought Machine names Lloyds Bank, Standard Chartered, Atom bank and SEB as customers.
Andy Maguire, newly appointed Chair of Thought Machine, says:
“Over the last few years, I have watched Thought Machine disrupt the age-old core banking problem and partner with leading banks to deliver their transformation journey. Thought Machine’s success can be attributed to two strategic differentiators - a world-class engineering team and a commitment to high quality delivery. With its recent funding, and acceleration of international hiring, the company is ready for its next stage of global growth. I am delighted to be joining Thought Machine as it expands its footprint to new markets, grows its revenue, and demonstrates that modern core banking infrastructure is a strategic imperative for 21st century finance.”
Paul Taylor, CEO and Founder of Thought Machine, comments:
“I am delighted that a person of Andy Maguire’s calibre has joined Thought Machine. As we expand our market share, Andy’s skill set and experience in driving HSBC’s infrastructural and operational strategy will be critical in creating material value for the business. As the world navigates the new economic environment, resilient and agile core banking infrastructure has never been more important to banks needing to adapt and serve customers. I look forward to working with Andy closely as Thought Machine meets this demand and aggressively pursues our international growth plans over the coming years.”
-- ENDS --
About Thought Machine
Thought Machine was founded in 2014 with a mission to enable banks to deploy modern systems and move away from the legacy IT platforms that plague the banking industry. We do this through our cloud native core banking platform, Vault. This next generation system has been written from scratch as an entirely cloud native platform. It does not contain a single line of code which is legacy, or pre-cloud.
Founded by entrepreneur Paul Taylor, Thought Machine’s customers include Lloyds Banking Group, SEB, Standard Chartered and Atom bank. We are currently a team of more than 400 people spread across offices in London and Singapore and have raised more than £110m in funding from Eurazeo, Draper Esprit, SEB, British Patient Capital, IQ Capital, Playfair Capital, Lloyds Banking Group and Backed. For more information visit thoughtmachine.net.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200923005073/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
EZO Reaches Financial Close on €150 Million Senior Debt Facility14.10.2026 13:21:00 CEST | Press release
Investment-grade, non-recourse financing will support the delivery of more than 3,000 charge points primarily across the whole of the UK along with additional development in Ireland. EZO has reached financial close on a €150 million investment-grade, non-recourse, senior debt facility. The funding will finance the design, installation, operation and maintenance of over 3,000 charge points, representing over 100,000 kWs of capacity, across the UK and Ireland under mostly long-term public sector “PPP-like” concessions with an attractive risk allocation between the public and private sector that will significantly advance EV infrastructure delivery, on time and to budget. These charge points are estimated to generate well in excess of £1 billion in electricity sales over the next 20 years, a portion of which will be shared with the public sector while, at the end of the concession, the chargers will revert back to the public sector. Headquartered in Ireland, EZO has expanded rapidly into
Compass Pathways Joins Forces with Leading Mental Health Organizations to Mark First-Ever U.S. Treatment-Resistant Depression (TRD) Awareness Day14.10.2026 12:30:00 CEST | Press release
First-ever Treatment-Resistant Depression (TRD) Awareness Day establishes dedicated moment to recognize and raise awareness of the condition’s profound impact on patients and their loved ones Survey data in a new report highlighting the significant burden of TRD on patients and caregivers to be released in a future communication Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, today announced the first-ever TRD Awareness Day in the U.S., a day dedicated to recognizing and advocating for individuals, caregivers and communities impacted by TRD. The campaign is being amplified by leading mental health organizations, including National Alliance on Mental Illness (NAMI), Mental Health America (MHA) and the Depression and Bipolar Support Alliance (DBSA). TRD is a form of depression distinct from major depressive disorder (MDD) that is estimated to affect approximately 4 million people in the U.S.,
Reliance Foundation and The Estée Lauder Companies Charitable Foundation Launch Multi-Year Partnership That Aims to Empower One Million Girls and Young Women in India14.10.2026 12:10:00 CEST | Press release
Partnership brings together two organizations with a shared commitment to advancing progress for women and girls. Reliance Foundation and The Estée Lauder Companies Charitable Foundation, the philanthropic arm of The Estée Lauder Companies, have announced the launch of a multi-year partnership that aims to empower one million girls and young women across India. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261014635257/en/ Mr. Stéphane de La Faverie, President and Chief Executive Officer, The Estée Lauder Companies, and President, The Estée Lauder Companies Charitable Foundation, and Ms. Isha Ambani, Director, Reliance Foundation. The program is designed for girls and young women from 14 to 20 years of age, across both rural and urban communities, with a focus on building life skills and confidence. It will begin in the Indian states of Maharashtra and Madhya Pradesh, with plans to expand to other parts of the country in th
High-Capacity DDoS Attacks Surge 1,286% in 1H 2026 According to NETSCOUT Threat Intelligence Research14.10.2026 12:05:00 CEST | Press release
Massive 1Tbps Events and Weaponized Residential Proxies Expose Critical Mitigation Gaps, Forcing Organizations to Rethink Enterprise and Carrier Defenses NETSCOUT® SYSTEMS, INC. (NASDAQ: NTCT) released its first half 2026 Distributed Denial-of-Service (DDoS) Threat Intelligence Report, revealing a significant shift in how attacks are launched and sourced. With more than 9.1 million DDoS attacks recorded globally by NETSCOUT between January and June 2026, the report highlights that DDoS risk is growing along three axes: the volume of traffic that must be inspected, the number of places where mitigation must be deployed, and the share of attacks that disrupt service without ever saturating a link. “The 1,286% rise in attacks clearing 1Tbps or 1Gpps means high-capacity events are no longer anomalies; they are routine,” stated Hardik Modi, VP Engineering, DDoS Solutions, and ASERT Threat Intelligence Team, NETSCOUT. “With the proliferation of residential proxies and short, rate-based attac
Reply Introduces Symbiosis: an AI-Driven Operating Model to Align Business Priorities and AI-Accelerated Delivery14.10.2026 10:00:00 CEST | Press release
Reply [EXM, STAR: REY] introduces Symbiosis, an AI-driven operating model designed for enterprises integrating generative AI and agentic systems into their operating processes. Supported by a dedicated platform, Symbiosis connects strategy, portfolio management and execution, helping organisations align priorities and investment decisions with measurable business outcomes. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261014833053/en/ Reply introduces Symbiosis, an AI-driven operating model designed for enterprises integrating generative AI and agentic systems into their operating processes. Supported by a dedicated platform, Symbiosis connects strategy, portfolio management and execution, helping organisations align priorities and investment decisions with measurable business outcomes. As AI enables teams to develop, test and deliver solutions faster, organisations also need to adapt how they decide where to focus that cap
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom