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October 31, 2016updated 22 Sep 2017 4:48am

Former Barclays CEO launches fintech business

Antony Jenkins, the former CEO of British banking group Barclays, has launched a new fintech business, named 10x Future Technologies.

Antony Jenkins, the former CEO of British banking group Barclays, has launched a new fintech business, named 10x Future Technologies.

The new venture will incorporate a cloud-based core banking platform, which will allow banks to unify their complex data systems.

The firm said that the platform will help banks gain better insights into customers’ data, and help them offer better tailored mortgages, credit cards, loans, savings and current accounts products.

“Our core digital banking platform, based on advanced data modelling and database design, will allow financial services providers to develop a much deeper understanding of their clients, cut costs and deal with regulation.

“New financial technology businesses will create a banking system that’s high quality, low cost, fair and transparent. 10x Future Technologies will help the industry embrace this technology and offer a service that benefits customers, reduces the risk to society and improves returns to shareholders.”

Mark Allcock has been appointed as CTO of the new business, while Brad Goodall has been appointed as COO.

“10x Future Technologies is a powerful, unique and transformative digital platform, leveraging leading edge advancements in data security, artificial intelligence, predictive analytics and chatbot technologies, all delivered through an intuitive user experience,” Allcock stated.

Jenkins was dismissed from Barclays in July 2015 after a three-year spell as CEO at the bank. He forayed into the fintech sector in August 2016, joining non-bank foreign exchange firm Currencies Direct in the role of non-executive chairman.

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