Antony Jenkins ran one of the world’s biggest banks. He knows how to solve those legacy tech nightmares (and launched a start-up to prove it)
Jenkins spent 30 years in what might now be described as “legacy banking” before leaving Barclays in 2015.
Antony Jenkins, a former CEO of Barclays Bank, recognized that outdated technology systems were a significant issue in large, established businesses. Over his 30-year career, Jenkins witnessed the "spaghetti systems" that plagued many banks, with roots dating back to the 60s. These legacy systems were costly and slow to adapt to new technologies like internet and mobile services.
Jenkins' experience led him to launch a startup, 10x, which aimed to provide innovative solutions for organizing core services and customer interfaces. In 2024, 10x secured a £50m investment, valuing the company at over £500m. Jenkins believed that true disruption often meant starting from scratch, a sentiment echoed by Greg Jackson of Octopus Energy Group.
By focusing on real-time systems and AI integration, 10x sought to create a banking experience that was 10 times better than the status quo.
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