Co-operative Bank taps 10x for core banking overhaul in NZ

By Vriti Gothi

The Co-operative Bank has selected 10x Banking’s next-generation, cloud-native core banking platform to lead a multi-year modernisation of its banking infrastructure.

This landmark partnership marks the first deployment of 10x Banking’s technology in New Zealand and sets the stage for a phased migration designed to deliver agile, scalable, and customer-centred services for more than 180,000 customers nationwide.

The initiative will see The Co-operative Bank leverage 10x’s advanced core platform to enhance operational efficiency, enable real-time product innovation, and elevate digital experiences across all channels while preserving the bank’s strong community values and profit-sharing ethos. The project strengthens both organisations’ commitment to sustainable, customer-first banking and reflects a shared ambition to redefine the future of mutual and co-operative finance.

The announcement reinforces 10x Banking’s strategic investment in the Asia-Pacific region, following its recent collaboration with West Brom Building Society in the UK, and underscores the growing momentum for digital transformation within the mutuals sector globally.

Mark Wilkshire, Chief Executive Officer at The Co-operative Bank, said, “10x is a great partner for The Co-operative Bank because they fundamentally understand what matters to us as a customer-owned B-Corp, putting customers before profits. This partnership allows us to preserve our unique values while building leading, responsive banking services our customers deserve. For our customers, whether they’re saving for a first home or managing everyday finances, this partnership helps ensure we’ll be equipped to support their financial lives today and for the future.”

Anthony Jenkins, Founder and CEO at 10x Banking, said, “This partnership deepens our commitment to the mutual and co-operative sector globally, building on recent successes with member-focused institutions across APAC, Europe and the UK. The Co-operative Bank’s customer-first values perfectly align with our mission to make banking ten times better for everyone, and as fellow B-Corps, we share a cultural DNA. We’re proud to support their journey as they build the digital foundations for their next century of service.”

Both organisations hold B-Corp certification, underscoring a shared commitment to ethical governance, community impact, and long-term value creation. The transformation programme will deliver a resilient, future-ready core capable of powering secure, personalised customer experiences and supporting sustainable growth in a rapidly evolving market.