London-headquartered FinTech 10x Banking has reached a major milestone, with more than 10 million live accounts on its platform.
Founded by former Barclays CEO Antony Jenkins in 2016 to make banking ten times better, the cloud-native core banking platform grew ARR by more than 30 per cent in the 12 months to May 2026.
10x Banking, which already powers some of the world’s largest banking organisations, including Westpac and Chase UK, reached EBITDA positive in Q4 2025 and is on track to remain profitable.
The FinTech, which also has an office in Sydney, onboarded more than 10 new clients in the last 12 months across APAC, North America, the Middle East and the UK.
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 per cent, and securing a number of new partnerships reflect the growing demand from banks for modern, cloud-native core banking platforms that are 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.”
The H1 results come as banks face growing pressure to modernise their core systems.
Research commissioned by 10x Banking found that only 30 per cent of banks and financial services firms are using AI at their core, and that a third of financial institutions risk losing customers if they fail to modernise.
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 the migration of a further 500,000 customer accounts to the platform across multiple clients.
Following the departure of Chief Revenue Officer Tom Bentley, Olly Richards has moved into the role of SVP, Head of Commercial & Strategy.
10x Banking is backed by leading global investors, including BlackRock and J.P. Morgan.