Banking institution Co-operative Bank implements reform for core banking system in New Zealand, collaborates with tech company 10x.

The Co-operative Bank Partners with 10x Banking for a Digital Transformation

Banking institution Co-operative Bank implements reform for core banking system in New Zealand, collaborates with tech company 10x.

The Co-operative Bank, a leading ethical financial institution in New Zealand, has announced a significant partnership with 10x Banking. This collaboration marks the first deployment of 10x Banking's technology in New Zealand and is part of a comprehensive modernization of the bank's banking infrastructure.

Under the terms of the partnership, The Co-operative Bank will leverage 10x's advanced core platform to enhance operational efficiency, enable real-time product innovation, and elevate digital experiences across all channels. The goal is to build the digital foundations for the bank's next century of service.

The partnership reflects a shared ambition to redefine the future of mutual and cooperative finance. Both organizations are B-Corps, demonstrating a commitment to ethical governance, community impact, and long-term value creation.

Mark Wilkshire, Chief Executive Officer at The Co-operative Bank, expressed his enthusiasm for the partnership, stating that 10x is a great partner due to their focus on customers before profits. This alignment with the bank's customer-first values allows The Co-operative Bank to preserve its unique values while building leading, responsive banking services.

Anthony Jenkins, Founder and CEO of 10x Banking, also commented on the partnership, stating that it aligns with their mission to make banking ten times better for everyone. The initiative aims to deliver agile, scalable, and customer-centered services for over 180,000 customers nationwide.

The transformation programme will deliver a resilient, future-ready core capable of powering secure, personalised customer experiences. This will support sustainable growth in a rapidly evolving market and strengthen both organizations' commitment to sustainable, customer-first banking.

The partnership follows 10x Banking's recent collaboration with West Brom Building Society in the UK and builds on their global commitment to the mutual and cooperative sector. The announcement reinforces 10x Banking's strategic investment in the Asia-Pacific region.

The partnership underscores the growing momentum for digital transformation within the mutuals sector globally. Both organizations share a cultural DNA, as fellow B-Corps, and this partnership is a testament to their shared vision for the future of ethical, customer-focused banking.

This collaboration between The Co-operative Bank and 10x Banking is set to redefine the future of banking in New Zealand, offering customers a more efficient, innovative, and personalised banking experience.