London: 10 February 2025 – 10x Banking, the cloud-native core banking platform, has been placed in the top right quadrant as a ‘Luminary’ by leading research house Celent, in the Next-Gen Core Banking Platforms for Mid-Large Banks.
Celent evaluated 13 next-gen core banking platforms across four fields and recognised 10x as a ‘Luminary’ in the mid-large banks category - the highest accolade awarded to companies who are excelling across all criteria demonstrating superior experience and technical depth. Next-gen core vendors were evaluated using Celent’s Technical Capability Matrix which considers the company’s strength across Advanced Technology and Breadth of Functionality.
10x Banking’s 'meta core' is powering some of the world’s most sophisticated banks, mutuals and building societies including Chase UK, Westpac and Old Mutual. It solves many of the migration hurdles and legacy challenges by giving banks the freedom to bring new products, features and personalised services to their customers with unprecedented speed, scale and security.
Mid-large banks are classified by Celent as tier 1-4 banks with over US$20 billion in assets, with complex legacy architecture. Celent recognised 10x for its ‘ability to support the performance and transformation needs of large banks’ and called out its ‘top-tier client experience, both with providing strong product configurability and extensibility’.
Celent also recognised 10x as an xCelent Award Winner in Advanced Technology for both mid-large banks and also for its performance and capability in EMEA and Asia Pacific.
Celent analyst, Daniel Mayo said: "The 10x Banking platform is a secure, reliable, scalable, and microservices-based could-native core banking platform that provides a flexible product design and processing fabric to support the complex needs of the largest banks.”
Lewis Ide, Vice President at 10x Banking said, "10x Banking’s mission is to create technology that helps banks deliver better experiences for their customers. This focus has been recognised by Celent, naming 10x a Luminary for mid-large banks. 2024 was a pivotal year for us with the launch of the ‘meta core,’ paving the way for deeper collaboration with our customers. The year ahead will focus on supporting banks as they modernise their core systems, ensuring they can meet customer needs at scale and speed.”