The UK ’s Nationwide Building Society has established a minority stake in 10x asset Technologies to support its planned entry into the global banking account market . Having predicted 70 % growth in personal current accounts over five years , Nationwide will target underserved smaller businesses with its new - build cloud - native digital platform , expected to launch late 2019 , which will be designed to complement , not replace , its ~650-strong branch network . The £ 15 m ( $ 20 m ) investment in 10x was part of a series B strategy . Nationwide is also bidding for £ 50 million from the Capability and Innovation Fund .
The UK’s Nationwide Building Society has established a minority stake in 10x Future Technologies to support its planned entry into the business banking account market. Having achieved 70% growth in personal current accounts over five years, Nationwide will target underserved smaller businesses with its new-build cloud-native digital platform, expected to launch late 2019, which will be designed to complement, not replace, its ~650-strong branch network. The £15m ($20m) investment in 10x was part of a series B round. Nationwide is also bidding for £50m from the Capability and Innovation Fund.