10x joins forces with Paymentology to augment banking for Tier 1 banks

With its enterprise-grade core banking platform, SuperCore, 10x enables banks to deliver products, services, and customer experiences at speed and reduced cost. Combined with Paymentology’s next-generation technology, including the issuing and processing of physical and virtual cards on the Visa and Mastercard networks as well as several domestic switches, enables banks to deploy credit and debit cards faster.

Enabling real-time processing

The collaboration enables banks to move from restrictive card batch processing to real time, removing pain from processes in issuer tech stacks and providing a simple view of card clearing, settlement and chargebacks from the 10x platform.  The pre-integrated capability means that through a single API interface, banks have access to a wide range of next generation card solutions, tokenization and 3DS out-of-the box, and access to real time transaction and clearing data from Paymentology’s FAST feed into 10x’s data architecture in a consistent ISO20022 format.

As a result large complex banking institutions can redesign historic operating models, deploy resources and management mindshare around their core customer proposition.

Officials from Paymentology said that a large amount of effort has gone into creating a unique offering, appropriate for ambitious clients who are systemically important banks in their respective markets. The 10x cards module powered by Paymentology takes advantage of cloud-native technology which meets their diverse needs on one simplified, scalable, and highly secure platform.

Also commenting on the partnership, representatives from 10x said that they are happy to be working with Paymentology to deliver the future of cards on their platform. SuperCore enables 10x clients to take full advantage of the speed, cost, and agility of modern technology to deliver fully integrated, customisable product offerings across savings, lending, and now credit and debit card and local rail payment processing in near real-time.

What does Paymentology do?

Paymentology is a global issuer-processor, giving banks and fintechs the technology, team, and experience to issue and process cards anywhere in the world, at scale. They currently have payments experts with deep, local market knowledge on the ground in 50 countries, across 14 time zones, guaranteeing 24/7 support. Their multi-cloud Platform, offering both shared and dedicated processing instances, vast global presence, and richer real-time data, make them a valuable player in payments.

More information about 10x

10x Banking (10x) is on a mission to transform financial services to make banking 10x better for customers, banks, and society. 

Founded in 2016, 10x enables banks to move from monolithic to next-generation core banking solutions delivered through the world’s most comprehensive and powerful cloud native SaaS bank operating system.

With its secure, reliable, scalable, and modular core banking platform SuperCore, 10x supports highly customisable product behaviours and accounting rules, integrates with banks’ wider technology estates, and harmonises with local and regional compliance and regulatory requirements. SuperCore enables banks to deliver products, services, and customer experiences to retail and SME customers faster and more cost-effectively.