10x and Westpac partner to launch transaction banking platform

By Leandra Monteiro

10x Banking (10x), the financial technology firm that is disrupting the core banking sector, announces that it will deepen its partnership with Westpac, to launch a market-leading transaction banking platform for the bank’s institutional clients.

10x Banking is going from strength to strength with clients across three continents including the successful launch of Westpac’s Banking as a Service offering (BaaS) last year. The move into supporting Westpac’s transaction banking business is a hugely significant step in 10x’s strategic growth plans while also underlining our clients’ confidence in our platform’s ability to support their ambitions.

Antony Jenkins CBE, Founder, Chairman and CEO of 10x Banking commented, “The banking industry is experiencing a radical change and Westpac is taking a leading role in its transformation. Using our technology to underpin the new platform is a logical next step in its move to cloud-native technology.

At 10x we’ve built the technology I always dreamed of when I was running businesses in banking. We are excited to extend our partnership with Westpac.”

Jeff Byrne, Managing Director of Global Transaction Services, Westpac Institutional Bank commented, “Our clients are on the digital transformation journey and are looking for ways to use data to improve working capital. We want to empower them by maximizing access to real time data across a range of sophisticated cash management structures.”