Ex-Barclays CEO back with new firm and digital banking platform
Antony Jenkins, former CEO of Barclays, is back with a new company called 10x Future Technologies and launched a new core digital banking platform.
As Banking Technology reported in June, Jenkins, who was sacked by Barclays in summer 2015 for failing to transform the bank quickly enough, set up 10X Future Technologies.
At that time, he refused to comment on what he planned to do with the new company, but now his vow of silence is over.
The new platform combines software applications with a cloud infrastructure. It will offer core software for products such as mortgages, credit cards, loans, savings and current accounts; and uses API technology to bring systems together into a single network.
Jenkins, founder and executive chairman of 10x Future Technologies, says its platform is based on “advanced data modelling and database design” and “will allow financial services providers to develop a much deeper understanding of their clients, cut costs and deal with regulation”.
The firm gives an example, such as monthly payments “could be adjusted dynamically depending on changing expenses, which means customers will be able to pay more when they want to, or skip a payment when they need extra cash for a holiday”.
10x Future Technologies says it is in “advanced” talks with a number of potential, but unnamed, “major” clients.
Its COO is Brad Goodall, who has over 17 years’ experience in start-ups, corporates and consultancies. Its CTO is Mark Allcock, who has more than 25 years of experience working for financial institutions such as Barclays, Citibank, Credit Suisse, ING, Lloyds TSB, UBS, Visa and JP Morgan.