Remara selects 10X Banking platform to enable product flexibility and growth

Remara, the Australian Alternative Asset Manager, has signed a multi-year agreement with 10x Banking. Remara will leverage the innovative 10X Banking platform to help drive product innovations and modernise its business processes.

Last year, the Australian Banking Association estimated that 99% of banking transactions occur online. Digital banking is no longer a competitive edge but table stakes. With AI and other technologies emerging rapidly, financial services firms need to evolve quickly. They need to find partners that are capable of supporting that innovation.

The pace of change is so fast that even newer institutions, such as Remara, founded in 2019 by its Managing Partners, Andrew McVeigh and David Verschoor, need to ensure their systems are future-proofed. It realised that its legacy estate was not suitable for its ambitions. And decided to look for a banking platform that offered flexibility, innovation and scalability.

Many of the core banking players in the market were reviewed, including those that offered modern core banking platforms. 10x Banking stood out as the only provider able to deliver an API-first, event-driven architecture needed to rapidly bring new products to market. It would support existing and future tailored offerings for underserved client segments. And enable it to differentiate in a dynamic, competitive landscape.

Andrew McVeigh, Managing Partner, Remara, said: “10x Banking’s platform puts us in the driving seat for product and delivery flexibility, letting Remara go to market faster with innovative, specialist lending solutions that really meet our customers’ needs.

“Australia’s financial services sector is modernising fast, and being able to offer something different to the market is vital. With 10x, we can do that, building on a best-of-breed core foundation and executing on our vision for growth.”

The project

The implementation of the banking platform has already commenced. Remara intend to use it to accelerate the launch of new mortgage, commercial lending, term investment, and novated lease products. Developing this number of products on legacy platforms would have taken far longer, and 10x Banking delivers the capability to create, integrate, and roll out these new products quickly.

Enterprise Times asked 10x Banking how Remara would phase the project. Lewis Ide, SVP APAC at 10x Banking, replied, “Remara has already completed a proof of concept, delivering four end-to-end products over an eight-week period. This positions the business for a rapid transition to live market launches.

“The plan is to release products incrementally over the next 3–6 months, with the flexibility to quickly introduce new offerings in response to customer demand.”

10x Banking is confident that the platform will go live in the first half of 2026. Ide believes that this will be “one of the fastest go-lives across the modern core banking technology providers.”

The 10x Banking platform will give Remara the flexibility and speed to market for new products across the emerging alternative finance sector in Australia, and then into the Southeast Asian region as it looks to expand there.

Antony Jenkins, Founder and CEO, 10x Banking, said: “Remara’s decision to select 10x reflects both the maturity of Australia’s alternative lending scene and the broader shift towards next-generation core technology in the region.

“We’re committed to supporting innovative financial providers that make banking better for everyone. Our partnership with Remara is the latest proof point that cloud-native platforms deliver real differentiation and tangible value, both to businesses and end users. This is our ninth ANZ client, underlining the impact our local strategy is having for new and established players.” 

Nine up for 10x Banking

The nine customers include Westpac and New Zealand’s Co-operative Bank. There is also a partnership with Constantinople, which sees its customers, including Great Southern Bank, customer-owned banks and others leverage the 10x Banking platform.

The deal marks continued success for 10x Banking in an industry that is still learning to evolve quickly. KBV estimated that the Asia Pacific Core Banking Software Market will grow at a 10.6% CAGR during the forecast period (2025-2032).

Grand View Research estimates that the Australian core banking software market generated a revenue of USD 480.1 million in 2024 and is expected to reach USD 959.8 million by 2030.

Enterprise Times:  What does this mean

10x Banking continues to expand its footprint across ANZ. In winning Remara, implementing its solution so quickly, and delivering value within a few months, it has demonstrated what is possible with its modern banking solution.

What will be key to 10x Banking success is seeing how successful Remara and others are with their solution. As Remara gains more customers, how well does the platform scale? As they innovate, can 10x keep technology in pace with those innovations?

In the future, how will 10x Banking leverage AI to improve its solution? 10x Banking is already using AI to help customers innovate and build new products in minutes. And to deliver insights and intelligence about customers and products through AI Learn. With Integrate, data mapping is automated to speed up core transformation.

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