London: 6 June 2024 – 10x Banking, the transformational cloud-native SaaS core banking platform has announced a new alliance with Deloitte Australia to further strengthen cooperation in delivering technology-enabled transformation to mutuals. 

Building on the strategic alliance recently announced with Deloitte UK and US, the move furthers the companies’ commitment to enhance innovation in the banking and mutuals sector worldwide. Together, 10x Banking and Deloitte bring a holistic approach, lowering risk, time-to-market, and cost, and improving expertise across technology, delivery and compliance. For mutuals, this innovation enables them to provide a best-in-class service for customers and the autonomy to differentiate and compete with others across the APAC region. 

Mutual banks are hugely important to the fabric of our communities across Australia and APAC, and innovation in a new digital era for banking is accelerating.

Daniel Nilsson Deloitte Australia Partner and APAC BankingSuite Leader

Commenting on the alliance, Will Dale, APAC VP at 10x Banking said: “Through our collaboration with Deloitte, we will enable mutuals across Australia to take advantage of modernising their technology and enact widespread change throughout their digital landscapes. With relevant experts on the ground and Australian third-party software providers, mutuals receive a technology and banking solution that’s fit for purpose.” 

The alliance will also enable mutuals to optimise the resource they have, focusing their existing teams on digital transformation, thanks to the platform’s ability to work with any programming language. Without the need for specialist programmers, local and existing skill can be utilised. 

Daniel Nilsson, Deloitte Australia Partner and APAC BankingSuite Leader, commented: “Mutual banks are hugely important to the fabric of our communities across Australia and APAC, and innovation in a new digital era for banking is accelerating. Customer needs, competitors and regulatory responsibilities are changing fast. We’re committed to supporting the modernisation in the sector, and our relationship with 10x Banking will help us to achieve this.”