10x Banking has partnered with Tungsten Automation to provide the core ledger behind Pay+, Tungsten’s new embedded payments platform.
Under the agreement, 10x Banking’s core ledger will sit at the centre of Pay+, an embedded payments proposition that extends Tungsten Automation’s accounts payable (AP) capabilities into a full invoice-to-pay offering. Pay+, including the 10x ledger, is expected to become generally available in the UK and the US in the first quarter of 2027.
A first non-bank deployment for 10x
The partnership takes 10x Banking’s technology beyond banks and building societies, the institutions its fourth-generation core banking platform has served to date. The company’s clients include Westpac and Chase UK. The Tungsten deployment is its first inside a platform that is not a regulated financial institution, with the ledger embedded at the core of Tungsten’s payments infrastructure.
Olly Richards, SVP, Commercial & Strategy, 10x Banking, the arrangement allows Tungsten, which already holds the invoice and customer relationship, to extend into payments without becoming a bank itself. The company describes this as the central proposition of embedded finance. Furthermore, Andrew Ng, Head of Payments and Embedded Finance, Tungsten Automation, said the company selected 10x because its plans in invoice-to-pay required infrastructure built to the standards of large banks.
Pay+ brings the creation, execution, and reconciliation of AP payments into a single workflow. It uses invoice and supplier data to route each payment through the appropriate provider or rail across Tungsten’s network of regulated payment partners.
The 10x ledger records every transaction across the Pay+ ecosystem in real time. Each entry can carry the provider, the rail, the payment category, and the associated charges, creating a consistent record across all integrated payment methods. This transaction-level data supports context-aware reconciliation, which the companies say is intended to remove end-of-period reconciliation backlogs for finance teams.
Self-hosted infrastructure and AI-led delivery
The ledger has been deployed within Tungsten’s own infrastructure, so transaction data remains self-hosted. Tungsten keeps full control of its payments data and infrastructure. For a non-bank platform that orchestrates payments through third-party regulated partners, this means the system of record sits with Tungsten rather than with an external provider.
The companies also presented the implementation as an example of AI-led delivery. A four-person core delivery team handled the project. Deploying the 10x environment and building the full API integration took less than three months, using an AI agent directed by Tungsten engineers.
The partnership reflects a model in which software providers that already own a business workflow, in this case AP automation, add payment functionality by embedding core banking infrastructure rather than becoming licensed banks. For 10x Banking, the deal opens a market segment outside regulated lenders. For Tungsten Automation, it moves the company from managing invoices to also handling the payments that follow them, ahead of the planned UK and US launch in 2027.
