10x Banking Collaborates with Constantinople for Enhanced Global Banking Solutions
Through a strategic partnership between 10x Banking and Constantinople, cloud-native core banking platforms are being extended to banks, mutuals, and financial institutions worldwide. This alliance focuses on offering advanced technological architecture and innovative solutions.
Improving Infrastructure Management and Fostering AI Adoption
10x Banking is committed to simplifying the complexities of banking infrastructure and operations for its members. By working with Constantinople, the company aims to support financial institutions in their development and AI integration efforts, ensuring they can concentrate on growth without being hindered by operational challenges.
Accelerating Digital Transformation and Reducing Costs
The collaboration between 10x Banking and Constantinople is expected to drive rapid digital transformation. By leveraging 10x’s core technology with Constantinople’s banking solutions, the partnership seeks to significantly decrease cost-to-income ratios by up to 80%. This makes it more feasible for banks and mutuals to gain access to an optimised banking stack at a lower cost compared to building in-house systems.
Constantinople’s Series A Fundraising and APAC Market Expansion
Constantinople, backed by investors such as Square Peg Capital, Airtree, and Prosus, has raised around USD 33.5 million in its Series A funding round. This financing will help the company serve customers across Asia-Pacific (APAC), including Great Southern Bank—a customer-owned bank.
Enhancing Operational Efficiency with Advanced Technology
Constantinople’s software-driven infrastructure and breed architecture enable it to provide tier-1 banking solutions effectively. The company focuses on powering retail banks and small-to-medium enterprises (SMEs) through embedded banking solutions, while also working towards integrating AI into every aspect of banking operations.
Addressing Challenges in Banking Innovation
According to research conducted by 10x Banking, a significant number—67%—of bank executives believe they are missing out on business opportunities due to slow digital transformation. Meanwhile, only 8% of banks prioritize improving their core banking capabilities.
Facilitating Full Potential and Enhanced Customer Experiences
The partnership between 10x Banking and Constantinople aims to support banks in achieving their full potential through core transformations. This will enable institutions to deliver more value to customers by focusing on product development and improved customer experiences.
