New senior hires at core banking tech vendor 10x Future Technologies
10x expands executive team
10x Future Technologies, a UK-based banking technology start-up, has recruited Dr Leda Glyptis as its chief client officer and Mark Holt as chief product and engineering officer.
Glyptis replaces Tam Holmes in her new role as he takes on a position of chief business development officer at 10x.
All three will report to Antony Jenkins, the vendor’s founder and executive chairman.
10x was set up by Jenkins in 2016 and focuses on core banking software. The company says it “pursues its mission to make banking 10x better for customers, banks and society”.
Jenkins explains that until now, the company’s chief client officer role focused on both business development and client relationship management, but the time has come to split it into two “as industry and client demand have risen”.
“Given our growth and strategic priorities we saw the need and value to have an executive lead focused on each area,” he says.
The new hires join “at a pivotal and exciting time in the 10x journey”, he adds.
Glyptis is a former banker, technology executive and a long-term resident of the fintech ecosystem. She is also FinTech Futures’ resident thought provocateur (check out #LedaWrites, published every Thursday).
Most recently, Glyptis was founding CEO of 11:FS Foundry, a core banking software provider and competitor of 10x. Prior to that, she was chief innovation officer at Qatar National Bank (QNB).
She is also involved in two other UK-based start-ups, Findexable and SimplyPayMe.
Holt moves from Trainline, a European train and coach app, where he was chief technology officer (CTO). He comes with more than 20 years of experience in technology, including CTO, architect and advisory roles at CPA Global, Trayport, ABN AMRO, Avis Europe, GE Capital and the Financial Times (FT).
Holmes has been with 10x since 2017. He has nearly 20 years of experience in digital banking, security and technology. Prior 10x, he spent a decade at Lloyds Banking Group in various tech roles. He also worked as a management consultant at PwC in early 2000s.
According to the vendor, 100+ new employees have joined 10x over the past several months, predominantly in tech roles focused on product and engineering. 10x is on the hiring spree, in and outside of London, as well as in Australia (where one of its major clients – Westpac – is based).
“Fusing the DNA of Big Tech, financial services and consumer-obsessed industries, the 10x team comprises innovators, technologists, designers, and industry-proven leaders transforming banking,” the vendor says.
Who else is on the executive team?
Other members of the 10x’s executive committee are:
- Neil Drennan, CTO
Drennan joined 10x in 2018 from Amazon, where he worked in Amazon Video’s software development and Amazon Web Services (AWS). Prior to that, he held senior technology and engineering positions at BBC Worldwide, Virgin Media, ITV, Sky and Deloitte.
- Phil Knight, chief information & security officer
Knight moved 10x in 2019 from Lloyds Banking Group, where he worked as both a digital chief architect and director of infrastructure and security architecture. Before that, he held a variety of consulting roles at businesses including KPMG, IBM, Vodafone, Optus, and PwC.
- Curt Hess, chief commercial officer
Hess is another 2019 hire. He previously spent 11 years at Barclays in various senior roles, most recently as CEO of Barclays US Consumer Bank. He also held executive positions at Citi and Bank of America.
- Sallyann Brookes, chief people officer
Brookes joined 10x in 2017. She has worked across a range of industries and global businesses including Unilever, SC Johnson, Barclays, and The John Lewis Partnership.
- Richard Given, general counsel and company secretary
Given moved to 10x in 2017 from HSBC, where served as head of legal for the worldwide operations. Prior to that, he was head of legal at Cisco across multiple regions across the globe.
The 10x journey
Founded by Jenkins, ex-group CEO of Barclays, 10x has been tight-lipped about its activities and clients. Its key offering is the cloud-based 10x SuperCore core banking system.
In 2017, it reportedly raised £30 million from Ping An Insurance and Oliver Wyman. JP Morgan is understood to be among its investors too.
Nationwide Building Society invested £15 million in 10x in early 2019 and took its tech for an SME-focused project.
The aforementioned Westpac signed for 10x’s tech a year ago to build a standalone banking-as-a-service platform.
“While the full impact and effect of the pandemic is uncertain, we believe, based on our pipeline of activity that the financial services industry and retail banks in particular are continuing to pursue new digital, cloud-native technology solutions to help them address their ongoing legacy cost and customer delivery challenges,” says Jenkins.
The vendor claims to be “in discussions with a number of banks in and beyond Europe interested in using its unique cloud-native technology to support their growth plans”.
