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Technology · head to head

Figma vs Thought Machine

Figma logo

Figma

Technology

The collaborative interface design tool

From
Free
Rated
-
Full reviewWebsite
Thought Machine logo

Thought Machine

Technology

Cloud native core banking where products are written as smart contracts

From
On request
Rated
-
Full reviewWebsite

The short version

  • Only Figma has a free tier, so it costs nothing to try first.
  • Each has a real cost: Figma no offline editing capability, can only view and create new files when disconnected; Thought Machine a core replacement is a two to four year programme at an established bank, and the licence is a minority of total cost against system integrator fees, parallel running and data migration.
  • They diverge on capability: Figma covers Real-time collaboration, Thought Machine covers Smart contract product engine.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Figma and Thought Machine actually diverge.

Attributes where Figma and Thought Machine differ
AttributeFigmaThought Machine
Starting priceFreeOn request
Pricing modelUnknownquote
Free tierYesNo
PlatformsWeb, macOS, Windows, iOS, AndroidWeb, API, Cloud
Founded2012Unknown

Identical on both: user rating (Not yet rated), category (Technology).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Figma

  • Real-time collaboration
  • Vector networks
  • Auto-layout
  • Components & variants
  • Prototyping
  • Design systems
  • Developer handoff
  • Version control

Only in Thought Machine

  • Smart contract product engine
  • Cloud native architecture
  • Real time ledger
  • Vault Payments
  • API first design
  • Multi entity and multi currency
  • Product versioning and testing
  • Configurable posting rules

What people use each for

The jobs each tool is most often brought in to do.

Figma

  • UI/UX designnot Thought Machine
  • Design systemsnot Thought Machine
  • Prototypingnot Thought Machine
  • Design collaborationnot Thought Machine
  • Developer handoffnot Thought Machine

Thought Machine

  • A large bank launching a separate digital brand on a clean core rather than migrating the back booknot Figma
  • A bank whose product launches are blocked by vendor change requests on a legacy corenot Figma
  • An institution needing real time balances and postings for instant payment obligationsnot Figma
  • A group consolidating multiple country cores onto one multi entity platformnot Figma

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Figma

  • No offline editing capability, can only view and create new files when disconnected
  • Mobile apps are read-only, cannot edit designs on iOS or Android
  • No self-hosted option, requires cloud connectivity and internet access
  • Performance degradation with large files containing thousands of layers
  • Library components and unloaded pages not accessible offline

Thought Machine

  • A core replacement is a two to four year programme at an established bank, and the licence is a minority of total cost against system integrator fees, parallel running and data migration.
  • The smart contract model presumes a bank can write and maintain Python financial products, and institutions without that engineering capability end up outsourcing the very flexibility they bought.
  • Cloud infrastructure cost sits with the bank and is not trivial at scale, so total cost of ownership comparisons against a hosted legacy core often miss a large recurring line.
  • Thought Machine has made two rounds of job cuts pursuing profitability, which is a legitimate supplier stability concern for a system a bank expects to run for fifteen years.
  • The functional footprint is core ledger and product engine, so origination, collections, regulatory reporting and channels all come from other vendors, and the integration estate around Vault is the bank's problem to design and own.

Pricing, plan by plan

Figma

Free
  • StarterFree
    • Unlimited drafts
    • 3 Figma files
    • 3 FigJam boards
  • Professional$12/month
    • Unlimited files and folders
    • Team libraries
    • Advanced prototyping
  • Organization$55/month
    • Unlimited teams
    • Shared libraries
    • Design system theming
  • Enterprise$90/month
    • Custom workspaces
    • API access
    • SCIM seat management

Thought Machine

On request
  • Vault Core$undefined/year
    • Quoted per institution, typically on account volumes or annual contract value
    • Implementation and system integrator costs commonly exceed the licence fee
    • Cloud infrastructure costs are the bank's and are not included

Which should you pick?

Choose Figma if

  • You need real-time collaboration.
  • You want to start without paying.
  • You work on Web, macOS, Windows, iOS, Android.
  • You also want vector networks.
Figma review

Choose Thought Machine if

  • You need smart contract product engine.
  • You work on Web, API, Cloud.
  • You also want cloud native architecture.
Thought Machine review

Questions people ask

Is Figma or Thought Machine better?
Neither clearly leads. Figma starts at Free and Thought Machine at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Figma or Thought Machine?
Figma has a free tier; the other does not. Paid plans start at Free for Figma and On request for Thought Machine.
Does Figma or Thought Machine run on more platforms?
Figma runs on Web, macOS, Windows, iOS, Android. Thought Machine runs on Web, API, Cloud.
Can I use Figma for free?
Yes. Figma has a free tier, so you can try it without paying. Thought Machine starts at On request.
What is Figma best used for?
Figma is most often used for ui/ux design, design systems, prototyping, design collaboration. Of those, ui/ux design and design systems are not what Thought Machine is typically brought in for.
What can Figma do that Thought Machine cannot?
Figma covers Real-time collaboration, Vector networks, Auto-layout, Components & variants. Thought Machine covers Smart contract product engine, Cloud native architecture, Real time ledger, Vault Payments.

Answered from the vendors’ own pages

Figma: What's included in Figma's free tier?

Figma's Starter plan is free forever and includes unlimited drafts, up to 3 Figma files, 3 FigJam boards, core design features (vector editing, auto layout, components, prototyping), basic developer handoff (inspect), and 150 AI credits per day up to 500 per month. Maximum 2 editors per file.

Source
Thought Machine: Is Vault Core genuinely cloud native?

Yes. It is containerised, runs on Kubernetes on public cloud, and posts in real time rather than in overnight batch.

Figma: Does Figma work offline?

Figma has very limited offline support. You can create one new file and edit currently loaded pages, but cannot open previously created files, access new pages, search for library components, or see real-time collaboration. Changes are cached locally for up to 30 days and sync when you reconnect.

Source
Thought Machine: How long does a migration take?

Eighteen months at the absolute fastest for a narrow greenfield launch; two to four years for a phased migration at an established bank.

Figma: Can you self-host Figma?

No. Figma is a closed, cloud-only platform with no option to self-host or run on your own servers.

Source
Thought Machine: Does the licence fee represent the total cost?

No. Implementation, system integration, parallel running and cloud infrastructure typically cost more than the licence over the programme.

Figma: What export formats does Figma support?

Figma exports to PNG, JPEG, SVG (at 1x scale only), and PDF (at 1x scale only). Export settings allow customization of resolution, quality, and scale.

Source
Figma: What platforms does Figma support?

Figma is available as a web app (all platforms), desktop apps for macOS and Windows, and mobile apps for iOS and Android. Linux users can access Figma through the web browser only.

Source
Figma: What are Figma's integrations?

Figma integrates with Slack, Microsoft Teams, Jira, Asana, Linear, Notion, VS Code, Zapier, and hundreds of other tools. Integration categories include collaboration, project management, developer handoff, prototyping, and AI/code generation.

Source
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