Antony Jenkins says 10x can help banks exit their technology museums
The former Barclays chief executive is set to scale up the core banking-technology provider that aims to do banking 10 times better.
10x Banking, the financial technology firm founded and headed by former Barclays chief executive Antony Jenkins, announced its latest offering in February.
SuperCore Cards combines 10x’s cloud-based core banking technology with Paymentology’s card-issuing and processing platform. It should allow banks hoping to launch a credit card product to do so in a fraction of the time it normally takes.
Instead of spending 12 months to develop a new card product, 10x suggests it will now be possible in as many weeks, or even faster for a bank already connected to the company’s SuperCore software-as-a-service (SaaS) offering.
“I spent a lot of my career in building banking products, and it took months and sometimes years to design them, write the code, get them through compliance, legal and finance,” Jenkins tells Euromoney. “I just want to shorten that process.
"At 10x we now have a product development tool with no code that can do in an afternoon what used to take months.”
Credit cards is a business close to Jenkins’s heart. He ran one of the biggest card portfolios in the world for Barclays before stepping up to become chief executive of the whole bank following the ouster of Bob Diamond.