10x launches SuperCore platform to quicken card proposition for banks

By Gloria Methri

10x Banking, the cloud-native SaaS core bank operating system, has launched SuperCore Cards, enabling banks to build a card proposition in minutes with its 10x Bank Manager interface. Now, updates to backbooks can be done simply with clicks by Product Managers.

Incumbent banks typically take up to 12 months to build and launch an enterprise-grade, full-stack, functional cards business
solution. With 10x, this can be done in as little as 12 weeks with reduced overheads in managing the ecosystem.

Founded by former Barclays Group CEO Antony Jenkins, 10x offers comprehensive core bank operating system that powers some of the largest banks across the globe.

“At 10x, we believe that cards are an area of untapped innovation just waiting to happen”, said Curt Hess, Chief Operating Officer at 10x. “Digitization and how people think about credit has fundamentally changed, yet credit card systems have barely moved on since the 1980s. SuperCore Cards represents a ‘clicks not code’ approach, enabling banks to bring personalized products and services to market 10x faster than ever before, and at a cost, others can’t match.”

Through a single instance of the SuperCore platform, banks can tap into this ecosystem with reduced lead times, complexity, and cost. As a result, 10x clients will be able to define novel card-linked propositions and rapidly gain market share.

Access to real-time merchant-level transaction data enables also banks to build loyalty offers and rewards, including instant cashback tied to specific retailers. The event-driven architecture will enable smarter spending tools, lending, and BNPL (Buy Now Pay Later) type experiences.

Hess added, “The continued rise of digital payments and changes in the perception of credit are just some of the forces that create an interesting opportunity for banks to get closer to their customers. Through 10x and partners like Paymentology, large complex banking institutions can now redesign their operating model around their core customer proposition, rather than the commoditized infrastructure that currently holds them back.”