Enhanced Banking Technology Through Collaboration

10x Banking, a cloud-native core banking platform, has partnered with Constantinople, an Australia-based banking software and operations provider. This collaboration aims to provide banks, mutuals, and financial institutions worldwide with improved technology architecture and solutions.

By working together, the companies seek to help members manage the complexities of banking infrastructure and operations, enabling institutions to focus on development and AI adoption.

Accelerating Digital Transformation and Reducing Costs

Combining 10x Banking’s core technology with Constantinople’s banking solutions will accelerate digital transformation. According to the companies, this partnership can reduce cost-to-income ratios by up to 80%, offering banks and mutuals a cost-effective alternative to building their own systems.

Constantinople recently secured approximately USD 33.5 million in Series A funding through investors like Square Peg Capital, Airtree, and Prosus. This partnership allows Constantinople to serve customers across the APAC region, including Great Southern Bank, a customer-owned bank.

Strategic Focus on Core Banking Capabilities

Financial institutions have long struggled with legacy core systems and complex business functions. Research by 10x Banking indicates that 67% of bank executives believe they are losing business opportunities due to slow digital transformation. However, only 8% of banks prioritize improving their core banking capabilities.

Through this partnership, the companies aim to help banks achieve their full potential and drive core transformations, allowing them to deliver greater value to customers through better product development and customer experiences.