Hi Lee, thank you for joining us at Sibos today. So what brings you to Sibos this year and what's one thing you're most looking forward to?
So it's a great opportunity to meet friends, colleagues, clients and potential clients and to really understand what's happening in banking and in the global market. I think the one thing I'm taking away from this year is that the economic disruption that we're seeing, the rising interest rate environments is really starting to create big opportunities for banks in particular markets like transaction banking and cash management.
That's great, thank you. So as you know this week PS recently launched some new research and in that research it shows that banks are prioritizing core modernization as one of their top three priorities. Does this reflect what you are seeing and how does 10x banking plan to influence this?
Yeah, absolutely. So I think over the past few years banks have really invested quite heavily in transformation and what we've seen is loads and loads of great improvements in the customer experience, in the channel layers like mobile for example. But the one area that most banks have failed to really tackle is the core. And I think to really drive innovation and modernization to really get those cost efficiencies but to also create those product innovations and great customer experiences, banks now have to start modernizing that core and investing in modernizing that core. 10x banking, we are a core native cloud banking provider. So obviously we want to be at the heart of those transformations for banks and really helping them understand how they can bring together a core banking modernization program and the architecture and the structures of the rest of the systems and the operating models that need to sit around that.
That's really interesting. So obviously 10x banking and PS are partners. How do you see what we can do together disrupting this space?
Yeah, so 10x is a managed service. So we're a software as a service business for the core banking platform. And what that does is it means that 10x banking really look after the commodity aspects of banking. So the ability to process transactions, the ability to pay interest and all of those particular aspects. And then the partnership with Publicis Sapient really enables banks to then focus on the areas that will differentiate them. So be that the use of data, real time data, or be that in building great customer experiences and great colleague experiences. I think that's where Sapient really add knowledge and value into the equation. And they can mean that in that partnership between 10x and Publicis Sapient, we can offer a complete solution to our clients.
So obviously 10x banking and Publicis Sapient are working together. What's on the horizon for us in the coming months, weeks, years?
Yeah, so we've got a really exciting client that we're working with in Australia, Westpac, where we're working together to transform their transaction banking and cash management solution. And that's going to be a really deep partnership where Sapient really bring their expertise to customer experience and service design and then building out those front end solutions. And 10x will be launching our new corporate cash management and transaction banking solution into the Australian market, which hopefully then between us we can take to other clients and other countries across the world.
Amazing. Thank you very much.