LONDON 6th March 2024 - 10x Banking’s commitment to its people, community and planet has earned the firm B Corp Certification, in recognition of using business as a ‘force for good.’
Banks around the world are increasingly prioritizing their impact on community, people and planet. In order to do this they are increasingly holding their suppliers to the same standards as their own and as such we are proud to be the first and only core banking provider to be certified B corp – the highest standard in this space.
As a key supplier to some of the most innovative banks and building societies in this space we are proud to be doing our bit to help our customers on their journey towards making banking better for them, their customers and society as a whole.
Whilst achieving B corp we have also dramatically reduced the unit economics of running a 4th generation core, therefor allowing banks to serve more of the market with better products. This is what impact means and this is why it's core to everything we do in our mission to help banks and building societies make banking 10x better.
10x has joined the ranks of over 6,000 Certified B Corporations worldwide. B Corp Certification looks beyond traditional business success by evaluating a company's entire social and environmental impact, ensuring it meets high standards of performance, accountability, and transparency across various criteria. ‘Impact’ is one of 10x’s core values, alongside transformation and integrity, and Chief Impact Officer and Head of Inclusion, Amanda Jenkins, is responsible for driving this forward.
10x Banking’s journey to becoming a Certified B Corporation is a testament to our unwavering commitment to making a positive change in the world. We believe that business should be a catalyst for positive transformation, and achieving B Corp certification reinforces our dedication to this vision.
Amanda Jenkins Chief Impact Officer, 10xWhy B Corp Certification matters
B Corp Certification is a holistic recognition of a company’s commitment to creating value for all stakeholders, not just shareholders. To achieve this esteemed certification, companies must meet rigorous standards, demonstrating exceptional social and environmental performance, and making a legal commitment to stakeholder accountability.
Amanda Jenkins continues: "We chose B Corp Certification because it aligns closely with our core value of ‘Impact’. B Corps envision an economy that benefits everyone and strives for positive change. This harmonizes perfectly with our mission to create a better world through our work and be a force for good.”
10x Banking's commitment to impact
10x’s 'Impact’-led approach places a strong emphasis on transparency, ethical business operations, and positive change for individuals, businesses, communities, and the environment.
The company’s approach to ‘Impact’ is organized under three pillars that are at the heart of operations through governance: people, community, and planet. Through its initiatives, the company focuses on promoting diversity, fostering an inclusive workplace, supporting local communities, and addressing environmental challenges. The commitment also extends to measuring, reducing, and offsetting carbon emissions to mitigate its environmental footprint.
Continuing the ‘Impact’ journey
Achieving B Corporation status is just one milestone in 10x Banking's journey towards creating a more sustainable and equitable world. The company remains dedicated to continuous improvement and plans to elevate its B Corp score with each review.
"We view B Corp certification as a steppingstone, not a destination,” added Amanda Jenkins. “Our commitment to impact drives us to constantly evolve, grow, and enhance our practices. As we move forward, we're excited to see the positive transformations we can inspire as a Certified B Corporation."
