Provider profile · 2026 edition
Modern Treasury review 2026: scores, pricing and alternatives.
A ledger joined to US payment rails, stablecoins and partner-bank accounts, with KYC and monitoring included.
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A ledger joined to US payment rails, stablecoins and partner-bank accounts, with KYC and monitoring included.
Modern Treasury scores 2.5 out of 5 (50 out of 100) in the Buckingham Intelligence Core Banking and Ledgers Index 2026 and ranks 6 of 12. It is strongest for US fintechs wanting a ledger joined to payment rails, and its best criterion is product coverage at 3 out of 5. Not published or not stated on the pages read: pricing, deployment, product coverage, integration and security and regulated clients.
Scores from the Core Banking and Ledgers Index 2026.
No award in the Core Banking and Ledgers Index 2026.
| Segment | Score out of 100 | Rank |
|---|---|---|
| For banks and building societies | 54 | 8 of 12 |
| For E-money and payment firms | 50 | 6 of 12 |
| For fintechs building their own products | 47 | 4 of 12 |
The score out of 5 is the overall score out of 100 divided by 20. Leader goes to the top three overall, Best for to the first in each segment, and Top rated for to a score of 5 out of 5 on a criterion. Awards cannot be bought.
Where it scores best, and where to check closely, as shown in each ranking.
US fintechs wanting a ledger joined to payment rails.
What Modern Treasury publishes on its own pages, read on 26 October 2026.
A ledger joined to US payment rails, stablecoins and partner-bank accounts, with KYC and monitoring included. It publishes SOC 1 and SOC 2 Type II and PCI DSS 4.0, and states no minimum spend, but does not publish prices.
| Fact | What the provider publishes |
|---|---|
| Product coverage | Ledgers as "a single, immutable system of record"; payments across ACH, wires, RTP/FedNow, push-to-card, checks and stablecoins; "Payment accounts backed by regulated partners"; lending listed as a solution. |
| Pricing | "Usage-based pricing"; "No. All pricing is usage-based" in answer to minimum spend; Ledgers priced on "flexible usage tiers". No figures published. |
| Deployment | Run by Modern Treasury in the cloud; no cloud provider named on the pages read. |
| Integration | "One API for payments, accounts, and ledgering"; API reference and docs published; "Start building" sign-up. |
| Security and clients | "SOC 2 Type II and SOC 1 Type II Compliant"; "certified PCI DSS 4.0 compliant". |
| Scale | "Built on the infrastructure and proprietary ledger that has powered $600 billion in payments". |
| Date read | 26 October 2026 |
A fact that is not published is scored as not offered or, for a fee, as if it were high. It is never estimated.
Facts read on 26 October 2026 from: moderntreasury.com/products/ledgers, moderntreasury.com/pricing, moderntreasury.com/security.
Each score with the evidence behind it.
Each criterion is scored 0 to 5 against the best published offer in the Core Banking and Ledgers Index. 0 means not offered or not published. How it is scored
The other providers in the same ranking, ordered by score.
| Provider | Score out of 5 | Rank | Strongest for |
|---|---|---|---|
| Thought Machine | 3.5 | 1 of 12 | Large banks replacing a legacy core on the cloud of their choice |
| SDK.finance | 3.0 | 2 of 12 | E-money firms and fintechs wanting a published price |
| Formance | 3.0 | 3 of 12 | Fintech and crypto firms wanting a ledger they can host themselves |
| 10x Banking | 2.6 | 4 of 12 | Banks that need published throughput and uptime figures |
| Pismo | 2.5 | 5 of 12 | Banks and large firms combining cards, lending and accounts |
| Mambu | 2.5 | 7 of 12 | Lenders and deposit-takers wanting audited SaaS |
| Temenos | 2.5 | 8 of 12 | Banks in many countries wanting packaged software or SaaS |
| Tuum | 2.3 | 9 of 12 | Banks wanting cloud or on-premise deployment with a stated launch time |
| Zeta | 2.0 | 10 of 12 | Banks launching card programmes |
| Finxact | 2.0 | 11 of 12 | US banks wanting an API-first core with a sandbox |
| Episode Six | 1.3 | 12 of 12 | Issuers wanting one ledger for cards, credit and deposits |
Side by side on every criterion, fact and award.
Head-to-head comparisons cover pairs within the top five of each ranking. Modern Treasury is compared with its alternatives in the table above.
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