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
LPs Expect Private Markets Managers to Level Up in 2027: SS&C Intralinks Survey5.11.2026 15:00:00 CET | Press release
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the publication of the 2027 LP Survey. In association with Reuters Insights, SS&C Intralinks surveyed 400 professionals working in private markets, including 370 limited partners and allocators, to understand how the alternative investments market will change in the next 12 months.* “Alternatives once again delivered in 2026, and LPs are still committing capital, but their expectations of managers continue to rise,” said Ken Bisconti, general manager of SS&C Intralinks. “Technology and data capabilities now rank among the most important criteria for selecting managers, alongside investment strategy. Performance alone is no longer enough. For nearly one-third of allocators, a credible artificial intelligence (AI) strategy is now a prerequisite for allocating capital to a manager.” Key findings from the report include: Alternatives portfolios continue to outperform. 62% of respondents said their portfolios exceeded expectati
European Commission expands license for Alfasigma’s Jyseleca® (filgotinib) with approval of new indication, treatment of adults with axial spondylarthritis5.11.2026 15:00:00 CET | Press release
Jyseleca® (filgotinib) has received expanded approval for the treatment of patients with active axial spondylarthritis (axSpA), both non-radiographic and radiographic forms of the disease, who have not responded adequately to conventional therapy. EC approval follows a positive opinion from the CHMP in September 2026 and offers a new treatment option for people living with inadequately controlled axSpA in Europe. An application has been submitted to the MHRA for UK approval and is under review. In the OLINGUITO Phase 3 study, improvements in the signs and symptoms of axSpA – including spinal pain – were observed early and maintained over 52 weeks of treatment with filgotinib. This new indication builds on previous approvals for Jyseleca® for the treatment of moderate to severe rheumatoid arthritis and ulcerative colitis in Europe and the United Kingdom. The information contained within this press release is for the purpose of scientific exchange. It is intended for scientific, financia
Shonan Beauty Clinic Named to Newsweek’s “World’s Best Hospitals & Clinics for Medical Tourism 2027”5.11.2026 15:00:00 CET | Press release
Recognized in two Plastic & Reconstructive Surgery categories, liposuction and breast augmentation, among leading medical institutions across 13 countries SBC Medical Group Holdings Incorporated (Nasdaq: SBC) (“The Company” or “SBC Medical”), a Medical Services Organization (MSO) providing management support across a wide range of healthcare fields, today announced that Shonan Beauty Clinic, one of the clinic brands it supports, has been named to “World’s Best Hospitals & Clinics for Medical Tourism 2027,” an international ranking presented by Newsweek in partnership with Statista. The clinic was recognized in the Plastic & Reconstructive Surgery field, in both the liposuction and breast augmentation categories. The ranking covers six specialty fields across 13 countries. Within Plastic & Reconstructive Surgery, which comprises breast augmentation, liposuction, and rhinoplasty, each of the three categories names the top 75 institutions, and Shonan Beauty Clinic was recognized in two. T
Mohammed Bin Rashid Library to host third Dubai International Library and Publishing Summit under the theme “Architecture of Trust: AI and the Future of Knowledge Institutions”5.11.2026 14:43:00 CET | Press release
Mohammed Bin Rashid Library has announced the third edition of the Dubai International Library and Publishing Summit, taking place on 16 and 17 November 2026 under the theme “The Architecture of Trust: AI and the Future of Knowledge Institutions”. The Summit will bring together experts from libraries, museums, publishing houses, universities, research centres, cultural institutions and the technology sector worldwide to explore the future of knowledge institutions in the age of artificial intelligence. This year’s edition will feature more than 50 speakers representing over 40 organisations, across more than 20 panel discussions, keynote addresses and specialist workshops. The Summit will bring together local and international institutions, including leading UAE-based entities such as Zayed National Museum, the Technology Innovation Institute (TII) and Natural History Museum in Abu Dhabi, alongside international institutions such as the Leverhulme Centre for the Future of Intelligence
Current Chemicals Expands U.S. Production of Rare-Earth Fluorides With New Investment From Momentum Global Ventures5.11.2026 14:14:00 CET | Press release
Current Chemicals receives additional capital to scale U.S. capacity for critical rare-earth fluorides used in magnets, advanced coatings, and alloys Current Chemicals, Inc. (“CCI”), one of the few U.S. companies converting separated rare-earth oxides into the fluorides used to make rare-earth metals and magnets, today announced an additional investment from its lead shareholder, Momentum Global Ventures (“MGV”). The investment will significantly increase CCI’s production of neodymium fluoride, dysprosium fluoride, and other key rare-earth fluorides in Cleveland. The funding adds infrastructure, equipment and engineering staff for fluorides of neodymium, dysprosium, terbium, gadolinium, yttrium, scandium, lanthanum, and lithium for reducing light rare-earths to metal: key inputs for permanent magnets, advanced coatings, and alloys. Neodymium fluoride and dysprosium fluoride are key feedstocks for the metal at the core of high-performance magnets in electric motors, wind turbines and de
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