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10x Banking Celebrates 100th Release and Version 10.0 Milestone
10x Banking, the cloud-native core banking platform, today announced the release of version 10.0 of the 10x Banking Platform. This marks its 100th platform release and a decade of continuous innovation helping financial institutions unlock faster speed to market, lower cost to serve and real-time transactions at near limitless scale.
Over ten years, 10x Banking has delivered meaningful platform updates at a near-monthly pace eliminating traditional upgrade cycles and enabling banks to access the latest capabilities without service disruption.
Version 10.0 continues this evolution, introducing advances in interest and lending capabilities, and greater configurability across complex financial scenarios.
Ross Harty, VP of Product at 10x Banking said: “Version 10.0 shows our vision in action for our clients. We are expanding what banks can achieve with greater configurability, real time data and faster product development; all underpinned by the security and scalability we know banks need. I am excited by how far we have come and even more excited about what the next ten years will bring as we keep turning our product vision into measurable outcomes for our clients.”
Notable features leading to version 10.0
- Dynamic interest threshold-based fees – Enables banks to create more tailored and responsive pricing models tied to customer behaviour or product thresholds.
- Separation of interest application from repayments and threshold fees – Creates propositions that work for the customer rather than the bank, by enabling customers to make repayments on a different schedule to the interest charging period. For example, fortnightly
repayments on a monthly term loan.
- Support for any day count convention – Expands 10x’s international capabilities by allowing banks to easily support multiple accounting and loan calculation standards across jurisdictions.
- Enhanced lending lifecycle management – Builds on prior innovations to handle more complex backdated transactions, bespoke repayment schedules, and multiple delinquency strategies.
- 10x Hooks for deeper customization – Allows clients to plug in custom logic and workflows written in any language without compromising security or system uptime, enabling true differentiation without risk and long roadmap cycles.
Read the full story: https://www.10xbanking.
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