• Slice of Finance
  • Posts
  • 10x Banking Launches ‘Meta Core’ Technology for Accelerated Transformation

10x Banking Launches ‘Meta Core’ Technology for Accelerated Transformation

Author

Slice of Finance Team
06 Aug

Key Highlights:

  • 10x Banking unveils ‘meta core’ technology to accelerate banks' transformation.

  • Funded by BlackRock and J.P. Morgan, 10x Banking continues innovation post $45 million funding round.

  • Meta core offers a de-risked, accelerated path to cloud-native transformation, improving scalability and speed to market.

  • Supports industry leaders like Chase UK, Westpac, and Old Mutual with innovative banking solutions.

  • New platform minimizes development complexity, requiring only 2,000 lines of code for customized banking products.

Source (Business Wire)

Notable Quote:

❝

"The ‘meta core’ provides banks with the best of all worlds: flexibility on the one hand and unlimited scalability on the other hand. The benefits are much faster speed to market, enterprise-grade security, the ability to unlock data for AI, and a lower cost base. 10x Banking is the first company in the world to offer a ‘meta core’, which for the first time gives banks a clear roadmap to full transformation. With our meta core, banks and financial services businesses can launch new banking products quickly without incurring outsized complexity, cost and risk."

Antony Jenkins, CEO and Founder at 10x Banking

Our Take:

10x Banking’s introduction of the ‘meta core’ technology marks a significant leap in the evolution of core banking systems. By addressing the limitations of both legacy and neo cores, the meta core provides a comprehensive solution for banks aiming for full digital transformation. The platform’s ability to drastically reduce the code base needed for product development, coupled with its polyglot coding environment, positions 10x Banking at the forefront of banking innovation. This advancement not only promises enhanced scalability and security but also paves the way for rapid and cost-effective product rollouts, ultimately benefiting banking customers and driving industry-wide progress.