Softwr

Technology · head to head

Miro vs Thought Machine

Miro logo

Miro

Technology

The visual workspace for innovation

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 Miro has a free tier, so it costs nothing to try first.
  • Each has a real cost: Miro free tier limited to 3 editable boards; additional boards must be shared as read-only; 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: Miro covers Infinite canvas, 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 Miro and Thought Machine actually diverge.

Attributes where Miro and Thought Machine differ
AttributeMiroThought Machine
Starting priceFreeOn request
Pricing modelfreemiumquote
Free tierYesNo
PlatformsWebWeb, API, Cloud
Founded2011Unknown

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 Miro

  • Infinite canvas
  • Real-time collaboration
  • Digital sticky notes
  • Diagramming
  • Mind mapping
  • Video chat
  • Screen sharing
  • Templates

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.

Miro

  • Collaborative whiteboarding and diagrammingnot Thought Machine
  • Team brainstorming and ideation sessionsnot Thought Machine
  • Project planning and workflow visualisationnot Thought Machine
  • Remote team collaborationnot Thought Machine

Thought Machine

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

Where each one falls short

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

Miro

  • Free tier limited to 3 editable boards; additional boards must be shared as read-only
  • AI credits heavily restricted: 25 credits per member per month on Starter, 50 on Business
  • Enterprise plan requires minimum 30 members
  • Large projects with numerous nested objects may impact performance on lower tiers

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

Miro

Free
  • FreeFree
    • 3 editable boards
    • 7,000+ templates
    • Multiple formats (Docs, Tables, Slides, Kanban)
  • Starter$8/month
    • Unlimited boards
    • Visitor editing
    • High-resolution exports
  • Business$20/month
    • Unlimited workspaces
    • Unlimited guests
    • 4,700+ diagramming shapes
  • Enterprise$null/mo
    • Custom pricing from 30 members
    • Enterprise-grade security
    • Regional data hosting

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 Miro if

  • You need infinite canvas.
  • You want to start without paying.
  • You also want real-time collaboration.
Miro 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 Miro or Thought Machine better?
Neither clearly leads. Miro 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, Miro or Thought Machine?
Miro has a free tier; the other does not. Paid plans start at Free for Miro and On request for Thought Machine.
Does Miro or Thought Machine run on more platforms?
Miro runs on Web. Thought Machine runs on Web, API, Cloud.
Can I use Miro for free?
Yes. Miro has a free tier, so you can try it without paying. Thought Machine starts at On request.
What is Miro best used for?
Miro is most often used for collaborative whiteboarding and diagramming, team brainstorming and ideation sessions, project planning and workflow visualisation, remote team collaboration. Of those, collaborative whiteboarding and diagramming and team brainstorming and ideation sessions are not what Thought Machine is typically brought in for.
What can Miro do that Thought Machine cannot?
Miro covers Infinite canvas, Real-time collaboration, Digital sticky notes, Diagramming. Thought Machine covers Smart contract product engine, Cloud native architecture, Real time ledger, Vault Payments.

Answered from the vendors’ own pages

Miro: How much does Miro cost per month?

Miro offers Free (no cost), Starter at $8/month per member (billed yearly), Business at $20/month per member (billed yearly), and Enterprise with custom pricing from 30 members.

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.

Miro: Is there a free version of Miro?

Yes, Miro's Free plan includes 3 editable boards, 7,000+ templates, multiple formats, limited AI trial, 250+ integrations, and 100 MCP calls per day.

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.

Miro: Do organizations get discounts on Miro?

Miro offers education and nonprofit discounts, as well as startup credits of $500-$1,000 for eligible startups.

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.

Miro: How does annual billing compare to monthly billing?

Annual billing saves 20% compared to monthly billing across all paid tiers on Miro.

Source
Share

Related pages

More on Miro

More on Thought Machine

Keep looking

Other head to heads