10x Banking, a cloud-native core banking platform, has entered into a partnership with Australian banking software provider Constantinople with a goal to expedite next-generation banking across Asia-Pacific (APAC).
This collaboration aims to provide comprehensive banking technology solutions to financial institutions globally, including banks and mutuals. The agreement is expected to enhance digital transformation efforts, implement artificial intelligence (AI), and significantly reduce operational costs.
The partnership leverages 10x Banking’s advanced core technology in conjunction with Constantinople’s software-driven infrastructure.
Constantinople co-founder and CEO Dianne Challenor said: “This partnership showcases our unique ability to bring tier-1 bank capabilities for financial institutions with an entirely software driven infrastructure to run operations and compliance. We can leverage best of breed architecture and tech stack to power retail banks, SME banks and provide embedded banking needs.
“With the technology we’ve built, we can now integrate AI into every aspect of banking.”
Constantinople recently secured A$50m ($32.7m) in a Series A funding round, backed by investors like Square Peg Capital, Airtree, and Prosus.
The Sydney-based firm already supports various APAC clients, such as Great Southern Bank.
According to research commissioned by 10x Banking, 67% of bank executives feel hampered by slow digital transformation progress, while only 8% focus on core banking improvements.
10x Banking CEO Antony Jenkins said: “When 10x was founded, our mission was simple: to make banking ten times better for our customers, their members and society. Achieving this requires building the strongest possible ecosystem of partners. In today’s AI-first world, banks, mutuals, and financial institutions must rethink how they deliver value to their customers and members.
“By combining 10x’s world-first meta core with Constantinople’s comprehensive end-to-end banking platform and fully integrated operational stack, we take away the burden of managing the complexities of banking infrastructure and operations. Together, we’re empowering institutions to focus on innovation, embrace AI and enhance customer experience.”
Recently, West Brom Building Society initiated its digital transformation with support from Deloitte and 10x Banking. This move aims to equip the UK-based building society with the necessary technology for enhanced service delivery in a digital environment.
