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10x Banking surpasses 10 million live accounts and grows ARR >30% in the last 12 months

10x Banking surpasses 10 million live accounts and grows ARR >30% in the last 12 months

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LONDON, UK - today we reported strong financial momentum in the first half of 2026. The business reached EBITDA-positive in Q4 2025 and is on track to remain profitable. ARR grew by more than 30% in the 12 months to May 2026, the platform passed 10 million accounts in production during the period, and the business onboarded over 10 new clients across APAC, North America, the Middle East and UK. 

The H1 result comes as banks face growing pressure to modernise their core systems. Research commissioned by 10x found that only 30% of banks and financial services firms are using AI at the core, and that a third of financial institutions risk customer loss without modernising. The company’s growth reflects increasing urgency among banks to act on that gap.

Founded in 2016 and headquartered in London, with an office in Sydney, 10x Banking is a cloud-native core banking platform built for financial institutions transforming to next-generation, 2040-ready technology. The business serves clients across the UK, APAC and Africa, offering a fast, cost-effective and de-risked path to modernisation for banks migrating from monolithic legacy estates, pivoting from neo legacy or launching new greenfield propositions.

Looking ahead, 10x Banking will deliver product launches, migrations and customer go-lives across New Zealand, Australia, South Africa and Thailand in H2 2026, including a further 500,000 customer accounts scheduled for migration to the platform across multiple clients.

H1 highlights

  • HassemPrag partnership. Strategic partnership with the African digital banking and orchestration platform brings a unified core banking and integration proposition to banks across the continent.

  • Tweezr partnership. Partnership with Tweezr, winner of Best of Show at FinovateEurope 2026, applying deterministic AI to legacy system understanding to reduce risk in core migration.

  • 100th platform release. Version 10.0 marks a decade of near-monthly delivery cadence, with the H2 roadmap extending into mortgage lifecycle management, real-time reporting and liquidity tooling.

  • Commercial leadership. Following the departure of Chief Revenue Officer Tom Bentley, Olly Richards moves into the role of SVP Head of Commercial & Strategy. Richards has been with 10x Banking since 2020 (previously Client Director), with plans to near-double the quota-carrying commercial team across APAC and EMEA in H2.

Antony Jenkins, Founder and CEO of 10x Banking, said: 

"After reaching EBITDA-positive in Q4 2025, the last 12 months have been one of the strongest periods in 10x Banking’s history. Crossing 10 million accounts on the platform, growing ARR by more than 30%, and striking up a number of new partnerships reflect the growing demand from banks for modern, cloud-native core banking platforms fit for an AI-first future. As we celebrate our tenth anniversary this year, 10x Banking is well placed for its next phase of growth.”