London: 12th December 2024 – 10x Banking, the cloud-native meta core banking platform, is marking a landmark year in 2024, with new product releases, global expansion, multiple new partnerships and a wave of industry accolades and awards.
In July, 10x Banking launched the world’s first meta core platform enabling banks to launch new products quickly without incurring outsized complexity, cost and risk. The launch was accompanied by the release of an extensive research report, ‘Core Banking without Compromise’. The report revealed widespread acknowledgment that core transformation is key to banking success, but the risks associated with transformation are moderating enthusiasm for widespread technological overhaul, validating the need for 10x’s new meta core platform.
10x Banking also furthered its global expansion efforts this year, announcing Old Mutual as its first client in Africa and securing new partnerships with Deloitte, LTI Mindtree, Suntec, Zafin, Alloy and Flexys.
Some more of 10x Banking’s achievements and milestones this year include:
- Capital injection of $45m, led by existing backers BlackRock and JP Morgan Chase.
- Named as a Leader in the IDC MarketScape: Asia/Pacific Digital Core Banking Platforms 2024 Vendor Assessment and the IDC MarketScape for EMEA Digital Core Banking Platforms for the first time.
- The first core banking platform to achieve B Corp certification, in recognition of using business as a ‘force for good.’
- Featured in Gartner’s Market Guide for Core Banking Systems, APAC focussing the key core banking players in the market.
- Increased the commercial pipeline by over 300%.
- Put more than 60 people through the 10x Delivery Training Course and partner certification to support customers globally.
- Maintained a 100% gross revenue retention.
2025 will see another 10x go through another transformational year with the business on track to achieve profitability from the second half of the year and continued geographical expansion with projects kicking off around the world.
