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
Megaport Launches Storage, Unifying Its Automated Infrastructure Platform Alongside Compute and Network Offerings4.6.2026 00:47:00 CEST | Press release
Megaport Storage enables enterprises to run data-intensive workloads on dedicated software-defined infrastructure with cloud-like agility and predictable costs. Megaport Limited (ASX: MP1) (“Megaport”), a leading global automated infrastructure platform, today announced the launch of Megaport Storage, expanding its platform to deliver integrated compute, network, and storage services. Megaport Storage integrates high-performance, enterprise cloud storage directly into the Megaport Network and Latitude.sh compute platform, giving enterprises a unified foundation that covers the three key pillars of IT infrastructure: compute, network, and storage. The launch marks a culminating step in Megaport’s evolution, delivering predictable costs, seamless scalability, and direct data access wherever customers operate. “With the launch of Megaport Storage, we’re not just connecting your cloud anymore; we’re providing the foundation for it,” said Michael Reid, CEO of Megaport. “By aligning storage
C.H. Robinson Launches World's First AI Technology That Continually Assesses, Improves and Operates Global Supply Chains3.6.2026 18:00:00 CEST | Press release
The newest innovation for Managed Solutions, the Lean AI Engineer, is the brain of the system As the global leader in Lean AI supply chains, C.H. Robinson has built the first AI technology designed to both operate a shipper’s global supply chain and also continuously assess and improve its performance. Now serving the company’s 4PL Managed Solutions customers, a new Lean AI Engineer works in concert with the Lean AI Planner introduced last year to create one connected system that uniquely enhances a supply chain as it runs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520874794/en/ The Lean AI Engineer can assess an entire supply chain in 25 to 30 minutes and determine improvements before performance is impacted – compared to supply chain assessments that typically take up to four weeks and look backward at what has happened instead of what should happen. While the Lean AI Engineer delivers intel, the Lean AI Planner ma
Leading Global Brain Science Conference OHBM 2028 to Be Held in Yokohama3.6.2026 17:00:00 CEST | Press release
Yokohama has won the bid to host the 2028 Annual Meeting of the Organization for Human Brain Mapping (OHBM 2028), one of the world’s premier international conferences in brain science, further elevating the city’s presence as a global hub for international conventions and academic exchange. The meeting will take place at PACIFICO Yokohama from June 18–22 and will mark only the second time the meeting has been held in Japan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260603787692/en/ YOKOHAMA JAPAN'S FIRST PORT OF CALL OHBM is a leading international academic society in the fields of brain imaging, neuroscience, and neurological-disease research. Its annual meeting attracts around 3,000 researchers, healthcare professionals, and industry representatives from around the world. OHBM 2028 will be organized in collaboration with the Japan Human Brain Mapping Society (JHBM, President: Yoshikazu Ugawa and Tetsuya Matsuda). The
Almarai Launches the 2026 Cycle of the World’s Largest Award for Food Security Research in Dryland Regions3.6.2026 16:31:00 CEST | Press release
The Almarai Prize - the international track of the Almarai Prize for Scientific Creativity - invites leading global research institutions and PhD‑holding scientists to nominate standout research that advances food security in dryland regions. Self‑nominations are not allowed; only PhD‑level nominators may submit, and institutions may nominate up to three projects. The prize totals USD 500,000 (SAR 1,875,000), awarded to one winning research project or institution. The 2026 cycle of the Almarai Prize, international track of the Almarai Prize for Scientific Creativity, has officially opened, calling on leading research institutions, distinguished scientists, and global experts to nominate pioneering research that advances food security in the world’s driest regions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260603753914/en/ Almarai Launches the 2026 Cycle of the World’s Largest Award for Food Security Research in Dryland
Stabilizing Grids and Cutting Costs in Half: Europe Is Banking on Grid-Relevant Storage Systems3.6.2026 15:50:00 CEST | Press release
The European battery market is scaling up at record speed: According to the latest Solar+ Report from SolarPower Europe, at the end of 2025, the installed storage fleet in the EU had reached a total capacity of 40 gigawatts (GW) and a storage capacity of 77 gigawatt hours (GWh). This is an increase of over 45 percent compared to the previous year. By 2030, the study’s Solar+ scenario forecasts that capacity will quadruple to 171 GW, while storage capacity will increase eightfold to 598 GWh. As growing solar and wind capacities place increasing demands on European grids, storage systems will need to shift electricity over many hours. As a result, the average storage duration will go up from 1.9 to 3.5 hours. This represents a technological leap that underscores the need to establish more grid-relevant storage systems. Taking place in Munich from June 23–25, ees Europe will showcase how the industry is meeting this enormous demand. As Europe’s largest exhibition for batteries and energy
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