10x Banking, the cloud-native core banking platform, has introduced a powerful suite of artificial intelligence (AI) capabilities designed to revolutionize the banking industry. These new features, embedded within 10x’s next-generation meta core platform, aim to streamline core migration, reduce operational costs, and empower banks with real-time insights and innovation.
The 10x meta core, launched in July last year, represents a new category of core banking technology. Unlike traditional core systems or complex neo cores, 10x’s meta core offers banks a fast, de-risked path to full cloud-native transformation without the typical setup and scaling challenges.
According to research commissioned by 10x Banking, only 32% of banks currently utilize AI at their core. Furthermore, 41% of IT decision-makers identify integrating AI with third-party systems as their top technical barrier. The new AI-powered tools aim to address these challenges head-on.
For the first time, banks and financial institutions can seamlessly integrate AI into their core operations—unlocking the ability to accelerate product innovation, deliver real-time personalized banking experiences, and significantly lower service costs.
Key Benefits of 10x AI Capabilities:
- Faster Core Migration: Automate the mapping of legacy data, reducing risk and accelerating transformation.
- Rapid Product Innovation: Create and launch new financial products in days instead of months.
- Real-Time Insights: Access instant, granular data without relying on outdated batch reports or IT teams.
- Enterprise-Grade Scale: Handle over 100,000 transactions per second per bank and up to 2,000 transactions per individual account—roughly 80x faster than legacy systems.
Antony Jenkins, Founder and CEO of 10x Banking, emphasized the significance of real-time data in harnessing the full potential of AI:
“To fully leverage AI, real-time data at scale is essential. That’s where our meta core excels—providing massive-scale, real-time insights alongside powerful AI tools that integrate easily with a bank’s existing infrastructure.”
Introducing the 10x AI Suite:
The new AI suite includes three innovative, purpose-built solutions that tackle key industry challenges:
- AI Migrate: Automates legacy data mapping, simplifying core migration and reducing cost and risk.
- AI Build: Empowers banks to develop and test customized financial products in minutes using generative AI, eliminating engineering delays.
- AI View: Delivers instant access to real-time banking metrics, removing the need for manual reports or IT involvement.
Antony Jenkins added:
“Legacy platforms slow innovation and hinder decision-making. While many banks understand the importance of modern core systems, cost and complexity have been major obstacles. With our latest AI capabilities, banks can finally move at the speed of AI—putting customers at the heart of everything they do.”
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