FinovateEurope Best of Show Winner 10x Banking Enters Strategic Partnership with Trade Ledger

FinovateEurope Best of Show Winner 10x Banking Enters Strategic Partnership with Trade Ledger
  • Core banking platform 10x Banking has formed a strategic partnership with B2B lending technology company Trade Ledger.
  • The two companies will offer banks and alternative lenders solutions to help them better serve small and medium-sized businesses.
  • 10x Banking won Best of Show in its FinovateEurope debut earlier this year.

Cloud-native core banking platform 10x Banking and B2B lending technology company Trade Ledger announced a strategic partnership this week. The two fintechs will work together to offer banks and alternative lenders a composable banking solution to help them better serve their SME customers.

Specifically, the collaboration will enable FIs to introduce a variety of new, more complex, working capital solutions to market. These include invoice, receivables, and supply chain finance products. A real-time API connection between Trade Ledger’s data platform and 10x Banking’s SuperCore platform allows credit applications to be linked to the creation of a new 10x customer account. Trade Ledger manages the loan application, risk assessment, and the risk and collateral management operations. 10x Banking handles account opening and the credit account life cycle.

“Automating integration between credit applications and account creation allows banks to deliver a superior customer experience, while also driving operational efficiency,” 10x Banking’s VP and Global Head of GTM and Partnerships, Frederico Venturieri said. “This collaboration reflects our shared vision of leveraging technology to revolutionize the business banking landscape.”

The strategic partnership seeks to close what the company called in a statement “the global working capital credit gap.” A report by Allianz estimated this liquidity gap to be $30 trillion worldwide, with SMEs impacted the most. Among the culprits are high acquisition costs, which make lenders reticent to take on small business customers. Another issue is an overly complex and lengthy application process. The partnership between 10x Banking and Trade Ledger responds to both the challenges of account opening, as well as the problem of access to working capital.

“Combining our lending automation capabilities with 10x’s core banking expertise, we can redefine how financial institutions onboard customers and manage the lending process,” Trade Ledger VP of Channels Alan Walsh said.

Founded in 2016 and headquartered in London, U.K., 10x Banking made its Finovate debut at FinovateEurope in March. The company won Best of Show for its 10x SuperCore Cards solution that enables banks to build a card proposition in minutes. More recently, 10x Banking has forged partnerships with compliant open banking API technology company Ozone API and mortgage sales and origination software provider Iress. In August, the company introduced new Chief Product Officer Okan Ozaltin, formerly of Signifyd and Fiserv.

10x Banking has raised more than $252 million in funding according to Crunchbase. Antony Jenkins is CEO.

Looking to demo your latest fintech innovation? Applications are now being accepted for demoing companies at FinovateEurope in London, February 27 and 28, 2024. Visit our FinovateEurope hub for more!


Photo by SevenStorm JUHASZIMRUS

Best of Show: The Finovate Podcast’s Greg Palmer Chats with the Faves of FinovateEurope

Best of Show: The Finovate Podcast’s Greg Palmer Chats with the Faves of FinovateEurope

Join Finovate VP and host of the Finovate Podcast Greg Palmer (@GregPalmer47) as he catches up with the innovators that earned top honors at FinovateEurope earlier this year!


Greg Palmer talks with Karan Jain of NayaOne on streamlining and de-risking the onboarding process. Episode 168. Demo video.

“NayaOne is a digital transformation platform that helps you leverage the fintech ecosystem. We work with product, innovation, and tech teams in banks and insurance companies to help them get their products to market much, much quicker. We have synthetic data sets and building tools on the platform. Typically, it takes companies nine to twelve months to begin working with a fintech. Our customers can get to that outcome in about six to eight weeks.”


Greg Palmer and Nickolas Belesis of Fintech Insights discuss understanding the competitive landscape in fintech and financial services. Episode 170. Demo video.

“We provide the industry with a digital banking market research platform that’s analyzing the digital offerings of banks, fintechs, credit unions, across the U.S. and worldwide. We analyze – from A to Z – what the banks, fintechs, and credit unions are offering, how they offer it, (and) how well they offer it, all while providing them with the ability to benchmark against the market and organize their product roadmap to implement their digital banking strategies.”


Greg Palmer chats with Nicole Sanders and George Broom of 10x Banking on streamlining product development and getting to market faster. Episode 171. Demo video.

“10x is a cloud-native banking platform that acts like a real-time operating system for banks. It allows you to build and run your bank at record speed at a fraction of the cost. We demonstrated that at Finovate through the use of our Bank Manager UI application. This allows product managers at banks to build products in minutes rather than months. In that seven minutes, we built a current account with a card and also a loan ready for launch to production.”


Greg Palmer interviews Zehra Cataltepe of TAZI AI on using AI where it will impact the bottom line. Episode 172. Demo video.

“We are a scale-up, San Francisco-based, that provides a software-as-a-service, machine learning platform which enables business experts to stay in control of their AI models. We also empower the data science and engineering teams through our technology that consists of the ability to continuously learn from the data as the business world changes. We provide continuous explanations to business users and give them the ability to give feedback to the models so that the models are aligned with the business all the time.”

Stay tuned for more insightful conversations from Greg Palmer and the Finovate Podcast!


Photo by Magda Ehlers

FinovateEurope 2023 Best of Show Winners Announced

FinovateEurope 2023 Best of Show Winners Announced

Winds of more than 60 mph tossing 787s around like paper planes. A wave of multi-industry strikes sending parents, patients, and passengers scrambling to reroute plans and rearrange schedules. There is no doubt that the attendees of FinovateEurope 2023 have had more than their fair share of challenges to make it to the Intercontinental O2 this year.

But make it they have – and we are all the better for it. Now, with the votes tallied from those undaunted delegates, we are happy to reveal the names of the companies that have earned Finovate’s most coveted prize: Best of Show.


10x Banking for its technology that enables banks to move from monolithic to next-generation core banking solutions with its cloud native SaaS core banking platform Supercore. Demo.

FinTech Insights by Scientia for its competitive analysis tool for banks and fintechs that offers all the data companies need to outsmart the competition. Demo.

NayaOne for its technology that enables institutions to 10x their digital transformation with single-key access to 200+ fintechs to discover, evaluate, and scale new solutions to production. Demo.

TAZI AI for its technology that empowers experts and data scientists to create, update, and deploy ML models with a no-code platform, making smart decisions in dynamic environments. Demo.

Your Juno for its solution that engages more than 50,000 users around financial education. Demo.

We congratulate this year’s winners – as well as all of our demoing companies – for taking to the Finovate stage to show us their latest fintech innovations. And, of course, a hearty thanks to our sponsors, our partners, and – perhaps most of all – our attendees whose attention, participation, and appreciation make our annual European fintech conference such a joy to host. We look forward to seeing everyone again next year!


Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The five companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 through 2022 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017
FinovateSpring 2017
FinovateFall 2017
FinovateAsia 2017
FinovateMiddleEast 2018
FinovateEurope 2018
FinovateSpring 2018
FinovateFall 2018
FinovateAsia 2018
FinovateAfrica 2018
FinovateEurope 2019
FinovateSpring 2019
FinovateFall 2019
FinovateAsia 2019
FinovateMiddleEast 2019
FinovateEurope 2020
FinovateFall 2020
FinovateWest 2020
FinovateEurope 2021
FinovateSpring 2021
FinovateFall 2021
FinovateEurope 2022
FinovateSpring 2022
FinovateFall 2022

FinovateEurope 2023 Sneak Peek: 10x Banking

FinovateEurope 2023 Sneak Peek: 10x Banking

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot.

10x Banking empowers banks to move from monolithic to next-generation core banking solutions delivered through their comprehensive and powerful cloud native SaaS core banking platform SuperCore®.

Features

  • Create innovative banking experiences across cards, savings and lending on one platform
  • Enable users to make smarter decisions based on real-time data to hyper-personalize
  • Launch new propositions in minutes

Why it’s great

10x SuperCore Cards help banks slash time to market from months to minutes with significantly reduced overheads in managing the ecosystem.

Presenters

George Broom, Product Owner
Broom is the Product Owner for financial products and subscriptions at 10x. His job is to remove all the barriers to building innovative products that customers love.
LinkedIn

Nicole Sanders, Product Marketing Manager
With 15 years of product and marketing experience in FS and leading GTM’s in nine countries, Sanders champions actioned customer insight to transform business’ bottom line.
LinkedIn