10x Banking has rolled out a powerful suite of AI capabilities within its meta core platform, aiming to fast-track the banking industry’s shift away from legacy systems and toward real-time, cloud-native architecture. The new AI tools are designed to enhance operational efficiency, accelerate core migrations, enable rapid product development, and unlock real-time data insights for financial institutions.
The company first introduced its meta core system in July 2023, offering banks a streamlined path to modernisation by abstracting away common product elements and core ledger complexities. The AI expansion builds directly on this foundation, offering a strategic layer of automation and intelligence to an already transformative platform.
According to recent research commissioned by 10x, only 32% of banks currently use AI at their core, with 41% identifying integration with third-party platforms as a top challenge. The new AI suite is tailored to address these pain points—enabling banks to automate the mapping of legacy data, dramatically reduce time-to-market for new products, and gain granular real-time insights without relying on slow, outdated batch processes.
Antony Jenkins, Founder and CEO of 10x Banking, commented: “Legacy platforms slow down innovation and decision-making. Migrating to cloud-native cores has historically been costly and complex. But to get the full benefits of AI, you need real-time data at scale—something our meta core delivers with precision and speed.”
The AI-driven momentum comes amid reports that 10x has appointed Moelis as an advisor for exploratory talks with potential buyers. The company last raised $50 million in January 2023 from JPMorgan Chase and Blackstone, bringing its valuation to $500 million. Its blue-chip client roster includes JPMorgan Chase (UK), Westpac (Australia), and Old Mutual (Africa).