10x rides on cloud native Saas to build banks of the future

Competition in the banking industry is intensifying. Neo-banks are winning market share and serving customers at around one third of the cost of traditional banks and fintechs are targeting lucrative niches in the value chain. Big tech players, with their large customer bases, pose a real threat and a few incumbents are investing heavily in innovation, putting laggards in the shade.

With much at stake for traditional banks, many are now turning to core banking solutions to revive products and service offerings and capture market share.

Brandessence Market Research indicates that the global core banking solutions market will hit USD32.01 billion by 2028, rapidly growing at 14.72 percent compound annual growth rate (CAGR), with rising number of online transactions, high internet penetration and the shift towards digital banking being some of the major factors that will continue to drive the growth of the global core banking solutions market.

To give us a perspective of the competitive banking landscape, including insights into how 10x Banking, a financial technology company is leveraging technology to deliver fundamental transformation for banks, we speak to Nicholle Lindner, GM and Regional Director APAC at 10x Banking.

Founded by former Barclays CEO Antony Jenkins, 10x is on a mission to move banks from monolithic to next-generation core banking solutions delivered through the world’s most comprehensive and powerful cloud native SaaS bank operating system.

During the conversation, Nicholle also speak about:

Challenges faced by traditional banks and how 10x has helped them compete with disruptive technologies and new business models.
Asia Pacific’s competitive financial landscape and 10x’s strategy for this region.
How banks are managing disruption.
Focus and strategy for the Asia Pacific market in 2022