London, UK. 13th February 2023: 10x Banking, the transformational cloud-native SaaS core bank operating system, has announced the launch of SuperCore Cards, enabling banks to build a card proposition in minutes with its 10x Bank Manager interface. New and 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 significantly reduced overheads in managing the ecosystem.
Founded by former Barclays Group CEO Antony Jenkins, 10x offers the most comprehensive core bank operating system that powers some of the largest banks across the globe, enabling clients to build future-focused, resilient, and scalable services at speed and low cost.
SuperCore Cards represents a ‘generational leap’ that allows banks to tap into an ecosystem of the best technology in the cards business. Working with its ecosystem partner Paymentology 10x combine its world-class, enterprise-grade core banking platform with Paymentology’s global issuing and processing platform to deliver physical and virtual debit and credit cards on the Visa and Mastercard networks.
“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.
“Banks need to innovate fast and affordably build products that get them closer to their customers, but that simply will not happen on old technology. 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 leading ecosystem with drastically reduced lead times, complexity, and, ultimately, cost. As a result, 10x clients will be able to define novel card-linked propositions and rapidly gain market share.
With the SuperCore platform, banks can tap into this market-leading ecosystem without needing service integrators, long lead times, and six-figure bills. As a result, 10x clients will be able to compete with the propositions that challengers are using to gain market share. Access to real-time merchant-level transaction data enables 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. And 10x’s Bank Manager interface, available across all product verticals, empowers Product Managers to configure and deploy Card products with clicks, not code tools, requiring no development time.
Curt 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.”
Learn more about 10x Banking's Credit Card solution below.