How 10x Banking is Powering Personalized Financial Services With Confluent

When 10x Banking sought to build its digital core banking platform to support its banking clients, it knew it needed to build it on a microservices-based architecture that uses data in motion to enable modern, agile capabilities for digital disruptors. With its mission to make banking 10x better for the world, 10x leveraged Confluent as the foundation of its core platform and enabled its own customers to create powerful new banking products and experiences for the modern banking world. Watch this video to learn how 10x leverages Confluent to turn legacy players into digital disruptors. Learn more:

Banks are important institutions they provide key features in the fabric of everybody’s lives banks in a lot of cases struggle because they have so much legacy i.t infrastructure banks can’t expect to go on operating on outdated technology how are banks going to move critical business services over into the cloud and also maintain them how do banks keep customer

Data safe our mission is to make banking 10x better for banks for customers and society to do that we need a cloud native data streaming platform that is also 10x more reliable 10x more performant than apache kafka confluence is about scalability and reliability those are the things we deeply deeply care about complement is the underpinning of our architecture

That banks don’t have to worry about the complexity of running their own kafka installation in the cloud they can simply leverage the one that we work with confluent to provide to them banks are uniquely positioned in having a lot of information about what their customers are doing the mechanics of running a complicated distributed system like kafka is not where we

See also  International Financial Services Centre (IFSC) Authority 2020 - in Hindi | Current Affairs 2020

Wanted to focus our attention what we’re trying to do is to get them to extract more value out of the real asset that they have make sure that they have access to that data in their core system to enable a better life for their customers 10x banking’s main product is supercorp a cloud native microservices core banking platform it’s using modern software development

Techniques to iterate super fast to create new products bring them to market in incredibly short time frames super core leverages confluent to create an event stream that banks can plug into and build hyper-personalized customer experiences off the back of today’s customers expect to see real-time data they don’t expect to see any kind of latency within the apps

They also expect to see personalization we think data in motion is the core of bringing banking into a new era and enables much better customer experience in many different dimensions things like better fraud monitoring contextual information that they need about their banking services when they need it in the uk chase has launched a new challenger bank on the

10x platform they’ve managed to create customer propositions that are super compelling in the market in australia we’ve been working with westpac who have launched an embedded finance banking as a service capability that is really shaking the market over there as well what’s been really exciting for me is being able to see the transformation that we’ve been able

To help our clients achieve if we can reduce the cost of banking if we can create better customer experiences then absolutely we will make the banking experience 10x better for all of those customers

See also  How does Level provide fast and simple financing to startups

Transcribed from video
How 10x Banking is Powering Personalized Financial Services With Confluent By Confluent