E-book

Revolutionize your
Core Banking
Solution, in the
cloud

With 10x Banking and SuperCore

Revolutionize your Core Banking Solution, in the cloud

Contents

03 The State of Banking Technology

04 Benefits of Core Banking with AWS

05 Rethink your Modernization Strategy

06 10x Banking - a True Partnership

07 Focus on the Data; not the Technology

08 Data drives Differentation

09 Security: at the Heart of the 10x Service

10 Creating a Virtuous Cycle of Banking

02 | Contents Making banking 10x better

Revolutionize your Core Banking Solution, in the cloud

The State of Banking Technology

Staying on the cutting edge of the financial services sector requires proactive innovation. Only by
meeting customers at their point of need with value-added services can banks keep pace with
competitors who are leveraging the latest technology, such as seamless customer experience,
embedded finance and hyperpersonalized products. However, outdated platforms present major
challenges that can drain resources, and reduce your capacity to innovate effectively for your
customers.

Availability
Managing outdated and legacy platforms is costly and time-consuming. They can also be
prone to unscheduled downtime following system updates.

Scalability
As many legacy platforms are static in nature, a spike in workload that hasn’t been
provisioned for can cause unscheduled downtime.

Total Cost of Ownership (TCO)

Hosting on-premise platforms requires hardware that incurs significant costs and
maintenance resources, with internal teams needed to support outdated systems.

Siloed Systems
If your IT infrastructure is made up of several outdated systems, it can be challenging to
find and extract data. This makes regulatory and compliance workloads more complex.

Licensed Contracts
Most legacy platforms are sold as licensed software, meaning internal resources are
needed to manage them. Maintaining infrastructure comprised of several legacy platforms
can become unmanageable.

The alternative to on-premises deployments is to select a modern core banking solution built for the
cloud.

03 | The State of Banking Technology Making banking 10x better

Revolutionize your Core Banking Solution, in the cloud

Benefits of Core Banking with AWS

Choosing a modern, cloud-native core addresses many of the challenges presented by legacy
technology systems, allowing banks to take advantage of a flexible, elastic and highly configurable
platform. Moving core banking to the AWS Cloud lets you benefit from:

Availability Scalability
Deploy across multiple AWS Availability Microservice architecture deployed in
Zones (AZs), leveraging AWS Aurora Global Kubernetes clusters and managed by
Database for near real-time asynchronous Amazon Elastic Compute Cloud (EC2)
data replication, to ensure operational allows the platform to scale horizontally
resiliency. and automatically.

Switching to the AWS cloud from an on-

premise deployment can reduce
downtime by 69%*

Cost-efficiency
Fully automatic and rolling updates that
don’t require platform downtime reduce
Security effort on internal technology teams, while
automatic recovery from failure removes
Defined and managed access policies the need for manual intervention. All of this
strengthen security, with all data drastically reduces TCO.
encrypted at rest (AES 256) and in transit
(TLS 1.2). By migrating to the Amazon Web Services
(AWS) cloud, you could save 51% on
operational costs, and reduce your five-
year TCO by 31%**

Data and Analytics

Leverage fully managed Apache Kafka
services to stream data in real-time,
allowing you to build insights and respond
to customer behaviour in a way that was
impossible on legacy systems.

Sources:
* https://pages.awscloud.com/rs/112-TZM-766/images/the-value-of-improved-availabilitysecurity-and-performance.pdf
** https://pages.awscloud.com/rs/112-TZM-766/images/AWS-BV%20IDC%202018.pdf

04 | Benefits of Core Banking with AWS Making banking 10x better

Revolutionize your Core Banking Solution, in the cloud

Rethink your
Modernization Strategy

Core modernization projects are often led by

technology considerations, when instead they should
be led by how you can best add value for your
customers.

Before modernizing your core banking platform, it’s

important that you have a properly defined strategy
that is centred around your customers. By identifying
commodities that can be outsourced to partners, you
can free up internal resources and refocus your teams
on developing innovative and differentiating services.

Having the right partner on your side can help you

define and work towards a comprehensive strategy,
and leveraging a managed service ensures your
platform needs are identified and constantly
maintained.

05 | Rethink your Modernization Strategy Making banking 10x better

Revolutionize your Core Banking Solution, in the cloud

10x Banking – a True Partnership

With 10x Banking, you’re not just buying a piece of licensed software. You’re creating a partnership
that will help you make the most of the 10x core banking platform, driven by your needs and
objectives.

Flexible Product Lifecycles

Launch and change innovative financial products in minutes at zero IT and low operational
cost, enabling clients to instantly respond to market needs with a building block approach
to build features on a milti-tenanted platform that supports multiple geos, segments and
product lines.

Transformational Data
Enable clients to deliver world-class customer experiences through API’s, data models
and tooling, improving economics through deep business, operational and customer
insight. real-time aggregated data enables advanced pricing, decisioning and
communications.

Reduced cost to serve

Simplify your technology portfolio, seamlessly integrate with third-party providers to
streamline operations; Reduce Cost to Serve each customer. 10x’s managed service
reduces total cost of ownership in financial and human capital freeing a bank’s IT to focus
on innovation and differentation.

Protect Customers & Brand

Provide a secure, reliable, scalable and regulatory compliant service proven with Tier 1
banks that minimizes and shares the regulatory burden and cost.

Your partnership with 10x Banking is complemented by our collaboration with AWS.
Being part of the AWS Partner Network (APN) means we can leverage a global
footprint and expertise to meet your specific needs, while benefiting from
comprehensive regulatory and compliance standards.
Revolutionize your Core Banking Solution, in the cloud

Focus on the Data; not the Technology

While core banking is still a technology issue, think of it as being a commodity. By outsourcing the
maintenance and management of your platform, you can refocus your resources on meeting
business objectives.

Working with 10x Banking allows you to focus on delivering added value and innovation, while the
technology is managed in the background. By deploying SuperCore, a Software-as-a-Service (SaaS)
Managed Service, you can reduce technology complexity and most importantly, unlock data and
insights that were previously unavailable. This is enabled through:

A multi-tenant environment
By logically segmenting data on the platform as required, you can separate your brands and
businesses appropriately, while unlocking new propositions like Banking-as-a-Service (BaaS).

So what?
Rapidly test new markets, new client segments and new brands on the SuperCore platform, in a
fraction of the time.

Rapid product lifecycle management

Quickly create, approve and launch new financial products through a no-code platform interface,
requiring minimal design and development resources.

So what?
Competitively price products, AB test new propositions and develop dynamic customer product
solutions.

Event-driven architecture
A real-time microservice based platform which emits business events with every change, that can be
consumed or stored in a single data warehouse available for querying, dashboarding and advanced
analytics.

So what?
Develop rich product and customer insights that enable new and deeper personalisation of products,
to improve customer experience.

07 | Focus on the Data; not the Technology Making banking 10x better
Revolutionize your Core Banking Solution, in the cloud

Data drives Differentiation

Providing a better service to your customers should be the foundation

of your core modernization strategy. By building new propositions,
providing personalized services and improving distribution models, you
can help your customers feel valued. To do this, you need data.

With data published in real-time by streaming services like Kafka,

modern core banking platforms provide data you can store, query and
act upon. Having the internal resources to leverage this data and the
insight allows you to deliver innovation and add value for your
customers.

SuperCore uses Confluent to provide a simple, scalable and secure

event streaming service, removing complexity and enabling technology
resources to focus on the data provided by the platform. This has
allowed clients to develop detailed customer insights, improve
experience by decreasing onboarding time, and build differentiating
services such as rewards, cashback and behaviourdriven solutions.

10x Banking believes that internal development resources should be

focused on building these new, personalized services enabled by data,
rather than creating conventional products through code.

Imagine creating a new credit card product that rewards customers for
sustainable spending, or advanced budgeting tools that predict a ‘zero
balance event’ and trigger the offer of a lending facility.

These are the types of value-adding products that can help create an
edge and turn customer service into a differentiator.

08 | Data drives Differentiation Making banking 10x better

Revolutionize your Core Banking Solution, in the cloud

Security: at the Heart of

the 10x Service
10x Banking ensures ‘Protecting Customer and Brand’, a product promise of the SuperCore platform.
This is proven by the partnerships with global banks like JPMorgan Chase in Europe and Westpac in
Australia – running live in production with millions of accounts. Building trust with your customers
starts with the data you hold and the services you offer.

Operating the latest in cloud-native security technology ensures a service level and response time
that differentiates 10x Banking in the core banking market, which is expected by Tier 1 banking
clients. As part of the managed service, 10x run their own Security Operation Centre (SOC),
providing 24/7/365 incident management and client support, with:

ISO27001 and Platform security AWS Elastic

SOC2 certification capabilities built by Container Registry
and an internal industry leading (ECR) for secure
control framework technology container registry
aligned to CSA partners, such as services and fine-
Cloud Controls Imperva, Dome9, grained access
Matrix (CCM) Checkmarx, Synk controls, through
and Crowdstrike AWS Identity and
Access
Management
(IAM).

10x Banking provides a horizon-scanning regulatory and compliance service,

working with you to ensure needs are mapped and implemented early, as part
of a Continuous Integration Continuous Deployment (CICD) methodology.
SuperCore is a single code-base platform, meaning the compliance and
regulatory burden is shared and greatly reduced across a single client bank.

09 | Security: at the Heart of the 10x Service Making banking 10x better
Revolutionize your Core Banking Solution, in the cloud

Creating a Virtuous Cycle of Banking

Choosing a new core banking system can help you reduce costs in your current business model. But
choosing the right core banking system and the right partner can help you improve your business
model entirely.

Banks are looking to other industries for inspiration around how to use customer and product data
to improve experiences, add value and ultimately drive revenue growth while reducing costs.

This Virtuous Cycle has been championed by technology companies specializing in collecting data
to inform product development and improve user experiences. This in turn encourages customers to
share more data, which further accelerates the pace of innovation and leads to better products and
services. For a business that has the trust of its customers, this cycle is accelerated even further.

Partnering with 10x Banking doesn’t just mean benefiting from a core banking solution, it also
provides the support, expertise and capabilities of a trusted partner. The 10x managed service takes
on more of your challenges, freeing up in-house resources so you can focus on leveraging data,
building trust and adding customer value.

Get in touch today to discover how 10x Banking and SuperCore

can help free up your capacity for innovation, add value for
customers and future-proof your business.

Get in touch

10 | Creating a Virtuous Cycle of Banking Making banking 10x better

About 10x
10x’s mission is to make banking 10x better for customers, banks, and society.

Founded in 2016, the company’s next-generation core banking platform, SuperCore®,

enables banks to launch products and customer experiences faster and more cost-
effectively, powered by real-time data.

The platform supports retail, SME, and corporate banking across current and savings
accounts, credit cards, lending, and mortgages.

Available as a SaaS platform hosted in the public cloud, SuperCore is fully managed by
10x to ensure local and regional compliance, robust security, always-on performance,
and operational resilience. Today, 10x powers some of the world’s leading banks,
supporting greenfield projects, core migrations, and banking as a service partnerships.

Key facts

Founded by 400+ staff with Serving global

Antony Jenkins decades of deep markets, with hubs
CBE – Former CEO banking and big in the UK and
of Barclays tech expertise Australia

Contact us
Request a demo to explore SuperCore capabilities

Learn more about our client success stories

Chat with us about how to make banking 10x better

10xbanking.com | [email protected]
© 10x Banking Technology Limited, 2023. All Rights Reserved.

COREBANKAWS_V2_071123_