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How Chase UK built a next-gen digital bank with 10x Banking

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Logo: Chase
Logo: Westpac
Logo: Old Mutual
Logo: WestBrom Building Society
Logo: The Cooperative Bank
Logo: Constantinople
remara

The challenge: redefine digital banking for millions of UK customers

JPMorgan Chase sought to enter the UK retail banking market with a fully digital proposition, free from legacy infrastructure and capable of delivering rapid product innovation, exceptional performance, and a world-class customer experience.

Key challenges included:

  • Building a new digital bank from scratch in a highly competitive UK neobank environment.

  • Ensuring the system could scale rapidly, as Chase expected strong customer growth.

  • Delivering differentiated features, such as seamless onboarding, rewards, and fee-free banking.

Chase London retail

The solution: a cloud-native core banking platform

Chase selected 10x Banking as its foundational technology partner, choosing its modern microservices‑based, API‑driven core platform. 10x’s platform gave Chase the infrastructure needed to operate as an agile digital bank, avoiding legacy constraints and reducing operational overhead.

The two companies collaborated for more than two years to build:

  • A scalable, cloud‑native architecture supporting rapid product development.

  • A modern ledger infrastructure enabling real‑time processing.

  • A platform designed to support a broad roadmap, including current accounts, savings, lending, and future product launches.

Icon: Ledger

A cloud‑native platform built for real‑time banking

At the heart is the 10x Banking Platform, a modular, flexible, cloud‑native core built entirely on AWS. Designed for modern product configuration and real‑time processing, it gives Chase UK a future‑ready foundation capable of supporting continuous innovation, faster deployments, and secure, always‑available customer experiences.

Icon: Sweeps

API‑first architecture for fast integration and delivery

10x’s API‑first approach allows Chase UK to rapidly join up its systems, internal tools, and third‑party services. Pre‑built integration patterns accelerate delivery and reduced program complexity, crucial to achieving faster time‑to‑value and avoiding lengthy bespoke builds.

Impact: award-winning customer experience

Chase UK’s success has become a global blueprint for tech‑driven retail banking expansion.

The partnership with 10x demonstrates how a major global bank can:

  • Launch a new, fully digital operation in a competitive market. 

  • Use cloud‑native core banking to innovate quickly. 

  • Deliver a differentiated, customer‑centric digital experience at scale.

With a scalable platform in place and strong customer adoption, Chase continues expanding its UK offering, while maintaining its focus on transparency, digital convenience, and long‑term customer trust.

Chase lady with card

The outcome: rapid customer growth and product expansion

The transformation will drive exceptional results:

Rapid customer growth

  • Chase UK acquired 1 million customers within its first year, outpacing Monzo and Starling’s early‑stage growth trajectories.
  • By 2023, Chase had grown to 1.6 million customers and £15bn in deposits.
  • As of February 2025, Chase UK surpassed 2.5 million customers, becoming one of the UK’s most successful digital banking entrants.

Award-winning customer experience

  • Chase UK has been voted Best British Bank in both 2023 and 2024, reflecting its market‑leading customer satisfaction and digital experience.

Efficient scaling & profitability trajectory

  • Starting from a tech‑first foundation enabled Chase to grow rapidly while remaining cost‑efficient, with a target to profitability by 2025, which is significantly faster than typical challenger banks.

Product expansion powered by the 10x Banking platform
Thanks to its 10x-powered core, Chase has rolled out new products at speed. 

What made Chase UK's mission succeed: 

By building on 10x technology, Chase entered the UK retail market faster than any other bank before. Chase now has higher balances than all neo competitors combined. This collaboration ensures they have the right technology in place to meet changing customer needs now and into the future.

Group-Pink

As one of our foundational partners, 10x has been instrumental in building the technology platform. We chose 10x because we needed a modern scalable core banking platform built on micro-services and accessible via APIs, in order to drive rapid product development and to provide our customers with a world class experience.

Sanjiv Somani, former CEO Chase UK

Key results at a glance

  1. 20
    bn
    +
    in balances in GBP
  2. 70
    k
    onboards in a single day
  3. 3
    m
    daily transactions

See how we create results!

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