Taking banking software up a level
10x targets tier 1 and 2 organisations such as Virgin Money and large-scale global banks. This direction can be attributed to its founder’s career. “Antony’s vision very much was, having been at the helm of Barclays, where obviously he was fully aware of the billions of pounds that had to be invested on an almost continual basis in keeping banking systems alive… Then, recognising that there weren’t really a lot of obvious solutions to that issue.”
However, having such a high-profile founder could also prove a double-edged sword. Although he’s an “amazing asset” with personal CEO connections in the industry, if he ever left the company a replacement with a comparable network would be needed. As the former C-level executive pointed out, “if you can get meetings with a CEO, you can really cut to the chase.”
In addition to discussing the differentiation of 10x versus other players in the market, the specialist explored their target markets. Mambu has been “incredibly successful” but tends to focus on more small-scale companies, whereas Thought Machine is geared towards larger institutions.
To access all the human insights from Third Bridge Forum’s 10x Banking – Cloud-native Core Banking Software Interview, click here to view the full transcript.
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