“Can a cloud-native 4th-generation core banking platform displace legacy mainframes at the world's largest banks, with AI-assisted migration as the wedge?”
Founded 2016 by former Barclays CEO Antony Jenkins to replace legacy bank cores with a cloud-native, API-first platform (SuperCore). Positioned as a '4th-generation' core banking vendor competing with Thought Machine, Mambu, and 10x's own category peers. Early wins with Chase UK and Westpac validated the enterprise-core thesis. Pivoted messaging in 2025-2026 toward AI-assisted migration (AI Migrate, AI Build, AI Learn) — recognizing that the real bottleneck in bank modernization is legacy data mapping, not greenfield deployment.
10x Banking's cards are issued through Marqeta.
10x Banking uses Onfido for KYC and identity verification.
10x Banking runs its ledger on 10x SuperCore (in-house).
The Embedded Finance Index 2026 maps 3 layers in 10x Banking's stack: Card issuing (Marqeta); Ledger (10x SuperCore (in-house)); KYC (Onfido).
10x Banking was founded by Antony Jenkins and is founded in 2016, headquartered in London, United Kingdom.
10x Banking has raised $300M+ (through Series C) in total (latest round: Series C, 2021; valuation: ~$700M (2021)).
Get a read on where your own stack stands against 10x Banking and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.