Banks across the region are facing a clear message: modernising core systems is no longer optional. New findings from 10x Banking reveal that 93% of APAC banking leaders see having the right core platform as mission-critical, even as two-thirds remain worried about migration risk. Although 67% admit they are lagging in digital transformation, only 8% are prioritising core modernisation—a significant gap between awareness and action.
The urgency is underscored by the explosive rise of digital payments and fintech innovation. APAC’s fintech market alone is expected to grow at over 21% CAGR through 2028, driven by surging adoption of QR payments, digital wallets, and cross-border payment rails. To stay competitive and meet customer expectations, banks must upgrade the infrastructure powering these experiences.
A Partnership Designed for Scale, Speed, and Resilience
To help banks capture these opportunities, 10x Banking and audax are combining their strengths: audax’s ability to launch full digital banking capabilities in as little as six months, and 10x’s high-performance core platform used by leading institutions including Chase UK, Westpac, and Old Mutual. Together, they offer the agility to innovate quickly with the stability and scale of a modern meta core.
Proven at Global Scale
10x Banking already processes over one billion real-time transactions a year, delivering 99.99% uptime and supporting throughput of 100,000 transactions per second. Banks on its platform can onboard up to 60,000 customers in a single day, with successful deployments across APAC and tier-one markets.
On the other hand, audax brings deep execution experience across complex environments. Recently appointed by Maybank Islamic to drive its Shariah-compliant digital transformation, audax has also delivered digital banking solutions embedded in ecosystem platforms serving over 150 million users.
Modernisation Without the Long Wait
Through this partnership, banks can roll out new digital services far faster than traditional transformation programs—while modernising their core architecture step by step. This incremental approach reduces integration burden, cuts technical debt, and unlocks new business models such as Banking-as-a-Service, digital wallets, ecosystem banking, and super apps. With built-in compliance-as-code, banks can stay ahead of regulatory needs across diverse markets.
Executive Commentary
Antony Jenkins, Founder and CEO of 10x Banking, said:
“Banks shouldn’t have to choose between speed and resilience—they can have both. By combining 10x Banking’s modern core with audax’s digital agility, banks across high-growth regions can innovate faster, reduce risk, and deliver meaningful customer value.”
Kelvin Tan, CEO of audax, added:
“Traditional core upgrades take years and cost tens of millions. Our partnership with 10x Banking changes that reality. Banks can launch full digital services in as fast as six months at a fraction of the cost—enabling transformation that reaches major cities and underserved communities alike.”
Meeting an Urgent Market Need
With many APAC and MENA banks still operating on legacy systems, this collaboration brings a timely, future-ready solution—one that supports new revenue streams in rapidly digitising markets.
10x Banking remains the only B Corp-certified core banking platform globally, handling 6 billion API calls per month and producing over 3 million statements an hour. audax, backed by Standard Chartered’s deep regulatory heritage, strengthens the partnership with in-market expertise and proven delivery across complex banking environments.
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