London: 16th January 2025 – 10x Banking, the cloud-native core banking platform, and DLT Apps, a leader in innovative solutions for data migration, have partnered to leverage AI to set a new standard in the banking industry's digital transformation efforts.
This new partnership offers a proven, fast and reliable migration journey from legacy and non-legacy systems onto 10x, that prioritises data integrity and quality with TerraAi. DLT Apps’ flagship AI-driven product seamlessly complements the market-leading advanced migration tooling capabilities from 10x.
The joint solution has been rigorously tested and proven, making it a trusted solution for financial institutions looking to modernise their core systems at an accelerated pace. By combining the advanced capabilities of the 10x Banking platform with TerraAi's robust data transformation and AI-powered migration tools, a comprehensive solution is now available that addresses the complexities of modern data migrations.
Building on 10x’s ‘meta core’ – a new category of core technology, the partnership is designed to help banks manage complex data migrations with confidence, reducing the risk of errors and minimising downtime during the transition to new systems.
Okan Ozaltin, Chief Product Officer at 10x Banking said, “A key differentiator of this joint solution is the ability of 10x to load data in any sequence, validate it in a controlled staging environment, and ensure that every transformation is auditable. This allows banks to manage their migrations with precision, reducing the risk of data loss or corruption and accelerating the migration process; this enables clients to quickly realise the benefits of their new systems.”
DLT Apps’ TerraAi, along with its MigratIO platform, is designed to handle any data format and streamline the migration process through an intuitive user interface, to easily manage data mapping and reconciliation tasks. MigratIO enhances the migration process by auditing every transformation and migration run, maintaining a comprehensive log of all data entries. With MigratIO’s detailed audit trails and real-time data quality monitoring clients gain visibility into every step of the migration process, enabling them to address potential issues early and avoid costly errors.
“We are excited to partner with 10x to enable financial institutions to take control of their data migration projects”, commented Santosh Reyes, Founder & MD at DLT Apps. “This partnership ensures the quality and integrity of data is maintained from start to finish as users can identify data quality issues early in the migration lifecycle.”
Ultimately, this proven approach allows financial institutions to transition to modern core banking platforms, like 10x Banking, with confidence. By focusing on the quality of the source data and providing AI-powered tools that simplify and accelerate the migration process, DLT Apps and 10x Banking offer a solution that not only meets but exceeds industry standards for data migration, positioning their clients for long-term success.
About 10x Banking:
10x Banking is a cloud-native core banking platform for financial institutions. Founded by former banking executives and built by technologists, the 10x Banking platform empowers its customers with best-in-class security, scalability and speed. Proven across transformational deployments including Chase Bank, Old Mutual and Westpac, 10x Banking offers banks the fastest, most cost-effective and derisked path to full cloud-native transformation through its unique ‘meta core’ approach. Its scalable, resilient, and flexible technology is built to empower financial institutions to better serve their customers and communities. 10x Banking is a B-Corp certified business with local presence in London, Sydney, and Singapore and is funded by a portfolio of world-class investors including BlackRock and J.P. Morgan.
About DLT Apps:
DLT Apps is redefining the future of Financial Services with innovation and disruption at our core. DLT Apps is a convergence of expertise and vision, born out of the desire to mould the financial sector, especially Banking and Wealth & Asset Management, into a domain that keeps pace with technological advancements and becomes adept in adopting and implementing them.
Leveraging a deep understanding of the financial sector and its inherent challenges, DLT Apps specialise in bringing latest technologies to the forefront of financial operations and services. We’ve built cutting-edge Banking and Wealth & Asset Management products with comprehensive offerings, driving clear benefits and value to our clients. The team possess extensive knowledge and expertise of the financial space within the organisation that enables us to build future-proof financial technology.
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