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Developer Tools · head to head

Keycloak vs Thought Machine

Keycloak logo

Keycloak

Developer Tools

Open-source identity and access management server.

From
Free
Free plan
Yes
Full reviewWebsite
Thought Machine logo

Thought Machine

Technology

Cloud native core banking where products are written as smart contracts

From
On request
Free plan
No
Full reviewWebsite

The short version

  • Only Keycloak has a free tier, so it costs nothing to try first.
  • Each has a real cost: Keycloak requires self-hosted deployment and operational expertise to install, configure and maintain; 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.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

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

Attributes where Keycloak and Thought Machine differ
AttributeKeycloakThought Machine
Starting priceFreeOn request
Pricing modelopen-sourcequote
Free tierYesNo
PlatformsSelf-hosted, Docker, Kubernetes, Linux, Windows, APIWeb, API, Cloud
CategoryDeveloper ToolsTechnology

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

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 Keycloak

Nothing recorded that Thought Machine does not also cover.

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.

Keycloak

  • Organisations requiring self-hosted identity infrastructure for compliance or data residencynot Thought Machine
  • Companies with existing LDAP/Active Directory systems needing federated authenticationnot Thought Machine
  • Open-source projects and communities requiring free IAM without licensing costsnot Thought Machine
  • Enterprises building custom identity workflows requiring fine-grained authorisationnot Thought Machine
  • Teams with sufficient operational expertise to manage infrastructurenot Thought Machine

Thought Machine

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

Where each one falls short

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

Keycloak

  • Requires self-hosted deployment and operational expertise to install, configure and maintain
  • No managed cloud option provided by Red Hat; organisations must operate infrastructure themselves or use third-party distributions
  • Clustering and high-availability configurations require additional operational knowledge
  • Community support only; commercial support requires third-party vendors or distributions

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

Keycloak

Free
  • Open-sourceFree
    • Full platform functionality
    • Self-hosted deployment
    • Community support

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 Keycloak if

  • You want to start without paying.
  • You work on Self-hosted, Docker, Kubernetes, Linux, Windows, API.
Keycloak 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 Keycloak or Thought Machine better?
Neither clearly leads. Keycloak 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, Keycloak or Thought Machine?
Keycloak has a free tier; the other does not. Paid plans start at Free for Keycloak and On request for Thought Machine.
Does Keycloak or Thought Machine run on more platforms?
Keycloak runs on Self-hosted, Docker, Kubernetes, Linux, Windows, API. Thought Machine runs on Web, API, Cloud.
Can I use Keycloak for free?
Yes. Keycloak has a free tier, so you can try it without paying. Thought Machine starts at On request.
What is Keycloak best used for?
Keycloak is most often used for organisations requiring self-hosted identity infrastructure for compliance or data residency, companies with existing ldap/active directory systems needing federated authentication, open-source projects and communities requiring free iam without licensing costs, enterprises building custom identity workflows requiring fine-grained authorisation. Of those, organisations requiring self-hosted identity infrastructure for compliance or data residency and companies with existing ldap/active directory systems needing federated authentication are not what Thought Machine is typically brought in for.
What can Keycloak do that Thought Machine cannot?
Thought Machine covers Smart contract product engine, Cloud native architecture, Real time ledger, Vault Payments.

Answered from the vendors’ own pages

Keycloak: What protocols does Keycloak support?

Keycloak supports OpenID Connect, OAuth 2.0 and SAML 2.0 protocols for authentication and authorisation.

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.

Keycloak: Can Keycloak integrate with existing user directories?

Yes. Keycloak supports user federation with LDAP and Active Directory systems, allowing organisations to leverage existing user directories.

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.

Keycloak: Is Keycloak free?

Yes. Keycloak is fully open-source and free to deploy and use. No licensing fees are required.

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.

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