10x Banking Technology Limited - Company Research Report

Company Overview

• Name: 10x Banking Technology Limited

• Mission: To transform banking for customers, banks, and society by leveraging technology to deliver true transformation, creating a customer-centric banking system rather than product-centric.

• Founded: Summer of 2016

• Founder: Antony Jenkins

• Key People:

• Antony Jenkins: Founder, Chair & CEO

• Amanda Jenkins: Chief Impact Officer & Head of Inclusivity

• Matt Mills: Chief Revenue Officer

• Okan Ozaltin: Chief Product Officer

• Katy Rowlands: Chief People Officer

• Katherine Yeung: Chief Risk Officer

• Gagan Bhatia: Chief Information Security Officer

• Headquarters: Suite A, 5th Floor, 33 Holborn, London EC1N 2HT, United Kingdom

• Number of Employees: No information is available

• Revenue: No information is available

• Known For: Building cloud-native core banking platforms, specifically the world's first "meta core" technology.

Products

Meta Core Banking Platform

• Description: The platform is a cloud-native banking solution offering meta core technology that unlocks swift, scalable, and secure core banking. It is designed to de-risk transformation with reduced code requirements.

• Key Features:

• Handles over 100 million accounts

• Offers 99.99% uptime reliability

• Processes over 100,000 transactions per second

• Supports Retail, SME, Corporate, and Commercial Banking

• Facilitates product creation and customization with ProductKit SDK and APIs

• Interoperable with various programming languages

• Zero-impact upgrades with multi-cloud and hybrid deployments

• Ensures Tier 1 standard security and resilience

Recent Developments

• New Products Launched: Introduction of the world's first "meta core" technology.

• New Features:

• Enhanced developer experience with a ‘polyglot’ coding environment allowing customization with any coding language.

• ProductKit that reduces code lines for creating banking products.

• Partnerships:

• Partnered with SunTec Business Solutions to enable banks to offer personalized services.

• Collaborated with LTIMindtree to accelerate banks' modernization.

• Formed a partnership with Zafin for simplified core banking system transformation.

• Joint project with Deloitte for digital transformation in Australian mutuals.

Additional Information

• Recent Insights:

• Emphasized the importance of cloud-native banking systems.

• Discussed regulatory compliance and operational resilience improvements.

• Funding: Secured $45 million in a funding round led by BlackRock and J.P. Morgan in January 2024.

The report covers key aspects of 10x Banking Technology Limited, outlining their mission, leadership, products, and recent strategic initiatives and partnerships. This comprehensive analysis provides insights into the company's innovative approach to core banking, aimed at enhancing banking efficiency and enabling digital transformation across global markets.