(Bloomberg) -- Subscribe to In The City on Apple podcastsSubscribe to In The City on SpotifyAntony Jenkins is building technology he wanted when he ran Barclays. The former chief executive served at the big bank for three very turbulent years, spending a lot of time wondering why there wasn’t a better way to automate its operations. When he left, he decided to find a way to do just that for everyone else.
On this week’s In the City, Jenkins joins hosts Francine Lacqua and David Merritt to share his story of starting 10x Banking Technology, a key player in London’s growing fintech scene. He launched the company in 2016 with £1 million ($1.2 million) of his own money. The company’s name reflects its mission, he said: develop new technology that can make banking 10 times better than what it is. It was most recently valued at about £600 million.
“It is pretty incredible that some of these big banks are still run like dinosaurs,” Jenkins says. “They’ve got systems that are not compatible with one another.” Jenkins also discusses London’s future as a fintech hub and the role companies like 10x have in the UK government’s so-called levelling up plans.
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