back Back

10x Banking and Trade Ledger partner to optimise commercial lending

By Gloria Methri

November 30, 2023

  • 10x Banking
  • 10x SuperCore
  • Composable Banking Services
Share

10x Banking, cloud, SaaS, core banking, TradeLedger, FinTecg, 10x Bank Manager, SuperCore Cards, Digitisation, UK, FinTech10x Banking has joined hands with B2B LendTech Trade Ledger to offer banks and alternative lenders a modern, composable banking proposition, enabling them to provide working capital to small and mid-sized enterprises.

This new partnership expands 10x’s commercial banking offering and supports Trade Ledger’s strategy to connect to all major modern and legacy core banking systems.

The joint solution enables banks and alternative lenders to bring complex working capital products such as invoices, receivables, and supply chain finance to the market quickly. Through a real-time API connection between Trade Ledger’s data platform and the 10x SuperCore platform, approved credit applications can be automatically linked to creating a 10x customer account.

Trade Ledger manages the loan application, risk assessment and risk and collateral management processes, and 10x manages account opening and the credit account life cycle.

10x Banking’s SuperCore is delivered as a managed SaaS platform, providing financial institutions with a resilient, regulation-agnostic, and highly available core banking platform. By leveraging 10x’s API-first design and partner ecosystem, banks can bring solutions to market in hours, instead of months. For its part, Trade Ledger has been able to accelerate the application to delivery time for working capital loans from 90 days to 48 hours. Trade Ledger will also play a crucial role in managing the onboarding and origination processes.

“We are excited to partner with Trade Ledger to transform the lending and account creation process”, said Frederico Venturieri, VP and Global Head of GTM and Partnerships at 10x. “Automating integration between credit applications and account creation allows banks to deliver a superior customer experience, while also driving operational efficiency. This collaboration reflects our shared vision of leveraging technology to revolutionise the business banking landscape.”

Alan Walsh, VP of Channels for Trade Ledger added, “Partnering with 10x is an important milestone for Trade Ledger. Combining our lending automation capabilities with 10x’s core banking expertise, we can redefine how financial institutions onboard customers and manage the lending process. We are proud to contribute to the digital transformation of the banking industry and deliver enhanced customer experiences and look forward to developing our strategic partnership and joint solutions further in future.”

Previous Article

November 30, 2023

Shakepay expands payment offering for customers

Read More
Next Article

November 30, 2023

Wio partners with Fuze to facilitate virtual asset trading

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

10x Banking

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

FinTech Focus: Catch latest developments of the week

Read More

Today

UNIPaaS unveils AI payment assistant solution for SaaS platforms

Read More

Today

Security Bank joins Avaloq to digitise its wealth management business

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023