The $100M Milestone: Core Banking Goes Mainstream
Hey Digital Banking Fanatic!
Remember when core banking was the least interesting topic in FinTech?
Turns out that's exactly where the biggest transformation is happening.
Thought Machine has just crossed the $100 million mark in annual revenue, growing 57% YoY. It's another sign that some of the world's largest banks are committing to replacing decades-old core systems.
For years, swapping out a bank's core system was considered too expensive, too risky, and too disruptive. Today, Thought Machine works with 68 banks across more than 30 countries, including 18 of the world's largest financial institutions.
That's a pretty strong signal that cloud-native banking has moved well beyond digital challengers and into the mainstream.
The spotlight may be on AI.
But before banks can reinvent the customer experience, they first have to reinvent the systems powering it.
See what else is shaping FinTech. 👇 See you tomorrow!
Cheers,
INSIGHTS
📈 Digital banks with loan books above $250 million more likely to reach profitability.
NEWS
🇬🇧 Thought Machine surpassed $100 million in annual revenue for FY2025, up 57% year over year, while annual recurring revenue also exceeded $100 million in Q2 2026. The cloud-native core banking provider now serves 68 banks globally, including 18 tier-one institutions, and achieved positive free cash flow in the second half of 2025.
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