16 June 2021

10x Future Technologies raises $187mn to transform banks

Written By FinTech Alliance

10x Future Technologies raises $187mn to transform banks

10x Future Technologies, a FinTech that helps banks build new services, has raised $187mn. 

In Brief:

10x Future Technologies aims to offer established banks the tools to help their services work more efficiently. 

It also helps them build “next-generation” services. 

According to TechCrunch, the FinTech’s latest raise brings the companies valuation to around $700mn. 

What does this mean?

As FinTech challengers grow, they are not just threatening to take a share of banks’ customers (though so far it’s been a fairly small share), they are also heightening expectations of what a banking experience should look like. This leaves banks with a challenge to transform their legacy systems and keep up with changing expectations. 10x is aiming to help banks keep up by helping transform their systems. 

Read more here. 

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