Cloud-native SaaS core bank operating system 10x Banking has entered a collaboration with Deloitte Australia to solidify cooperation in providing technological solutions to mutuals. Closely following the strategic partnership with Deloitte UK and US, the current announcement focuses on furthering the two companies' allegiance to improving the capabilities of the banking and mutual sector globally.

Back in April 2024, 10x Banking and Deloitte announced alliance agreements in the US and the UK developed to further solidify cooperation in providing technology-enabled transformation for financial institutions worldwide. The two companies mentioned their plans to introduce a series of 10x Centres of Excellence in the US, UK, and India to increase 10x features within Deloitte and create a team of developers, business analysts, and architects. Deloitte and 10x Banking planned to launch a cohort of 100 experts by the end of 2024. Currently, by working together, 10x Banking and Deloitte Australia intend to offer a holistic approach which focuses on decreasing risk, time-to-market, and cost, while also enhancing knowledge across technology, delivery, and compliance.

When it comes to mutuals, the move is set to allow them to deliver advanced service for customers and the ability to compete with others across the APAC region. What are 10x Banking and Deloitte’s plans? According to 10x Banking’s officials, the alliance with Deloitte aims to allow mutuals across Australia to benefit from modernising their technology and performing extensive change across their digital environments. Additionally, by delivering relevant experts on the ground and Australian third-party software providers, mutuals are set to receive a technology and banking solution that can meet their needs and requirements. Moreover, the collaboration between 10x Banking and Deloitte plans to enable mutuals to optimise and improve the resources they currently have, supporting them in concentrating their teams on digital transformation, as the platform can work with any programming language.

Also, considering that there is no need for specialist programmers, local and existing personnel can be leveraged. Representatives from Deloitte highlighted that, as mutual banks play a significant role in the communities across Australia and the APAC region, the additional capabilities of banking can further support their acceleration and advancement. Deloitte Australia underlined its commitment to assisting the modernisation in the sector and the decision to partner with 10x Banking is set to further strengthen its ability to achieve its objectives.

.