audax
- Company typePrivate
- Founded2023
- HeadquartersSingapore, Singapore
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What audax does
audax is a Singapore-headquartered fintech that provides a cloud-native, modular, API-first digital banking platform to banks and financial institutions across Asia Pacific, Europe, and the Middle East. The company originated within Standard Chartered in 2021 as SC nexus — the first Banking-as-a-Service proposition by a global bank in Asia, initially deployed through Bukalapak's BukaTabungan — and was spun off in September 2023 as an independent entity under SC Ventures, with Kelvin Tan, former Global Head of SC nexus, as CEO. The platform is organised into three solution areas (Banking-as-a-Service, Digital Banking, and Modernisation) and eight interconnected modules (Channels, Origination, IAM, Data Lake, Customer Engagement, Operations, Product Engine, and Payments Hub), designed to coexist with legacy core systems via a dual-mode evolution approach and to enable deployment of full digital banking services in 6-9 months.
audax monetises primarily through multi-year enterprise platform subscriptions, supplemented by professional services for implementation, partner integration, localisation, and consulting/advisory. Pricing is not publicly disclosed and varies by bank size, module scope, and deployment complexity. The go-to-market combines direct enterprise sales to Tier 1 banks (with named deployments at Standard Chartered, Maybank Islamic, Maybank Indonesia, and Jeel/Riyad Bank) with an expanding channel of system integrators (FPT, Synpulse) and technology partners (AWS, 10x Banking, Thought Machine, Paymentology, Tuum, Mastercard). The company employs 51-100 people, holds ISO 27001 certification, and has received recognitions including Frost & Sullivan's 2025 Singaporean Transformational Innovation Leadership award in BaaS and selection for Mastercard's Start Path 2024 program. Recent platform extensions include a "Cards-as-a-Service" offering with Paymentology, an Islamic banking vertical (Amanah Pro with Muslim Pro, ~190M users), and an AI Foundation for Banking product line orchestrated through the Model Context Protocol.
audax firmographics
Firmographics- Name
- audax
- Legal name
- Audax Financial Technology Pte Ltd
- Website
- https://audax.io
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
audax industry classification
Industry- Product category
- Digital Banking Platform
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)
- akta.pro secondary industries
- Digital Banking & Neobank Platforms (BPAMAFAD), Neobank Core Platform (Retail/SME Digital Bank) (FSAGAAAA), Embedded Card Issuing & Card-as-a-Service (FSAGALAC), Customer Experience & Engagement (CRM, Support, Rewards, Loyalty) (FSAGAAAM)
Keywords
Where audax is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices1 record
Markets served
audax business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Digital Banking Platform Subscription: Cloud-native digital banking platform deployed within bank's domain as SaaS model. Banks pay for platform access, deployment, and ongoing managed services.
- Platform Delivery & Implementation: Implementation services including platform delivery, partner and vendor integration, localisation, and deployment support.
- Banking-as-a-Service Infrastructure: Technology rails enabling banks to distribute financial products (eKYC, accounts, loans, credit cards, payments) to third parties via APIs for embedded finance.
- Consulting & Advisory Services: Business model setup, market regulations, risk management, and partner acquisition strategy consulting for financial institutions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom enterprise pricing based on bank requirements and deployment scope |
Go-to-market motion3 records
Distribution channels7 records
Marketing channels8 records
audax product offering
Product offeringCore offering
audax provides a cloud-native, modular, API-first digital banking platform that banks and financial institutions deploy to launch and scale digital banking, Banking-as-a-Service (BaaS) and embedded finance propositions. The platform comprises modules for Channels, Origination, IAM, Data Lake, Customer Engagement, Operations, Product Engine and Payments Hub, and is sold with implementation, managed services and advisory support for go-live within 6–9 months.
Product overview
audax is a plug-and-play digital banking platform delivered as a modular architecture enabling banks to deploy scalable, compliant solutions in as fast as six months. The platform consists of three core solution areas: Banking-as-a-Service (BaaS) for embedding financial services into partner ecosystems, Digital Banking for launching new digital banks, and Modernisation for incremental infrastructure upgrades. The platform is built from interconnected modules including Channels (omnichannel digital experiences), Origination (customer onboarding), IAM (security and access management), Data Lake (analytics), Customer Engagement (CRM and communications), Operations (monitoring and configuration), Product Engine (core deposits and lending), and Payments Hub (orchestration). The modules work together as an integrated platform that can be deployed inside or outside a bank's environment, with AI-powered and API-driven capabilities enabling rapid integration with partner ecosystems.
Differentiator
Problem solved
Functional benefit
Products and services
- Banking-as-a-Service (BaaS) Integrates bank-issued financial services (eKYC, accounts, loans, credit cards, payments) into partner ecosystems and platforms via APIs, enabling banks to leverage their retail banking license and balance sheet for new acquisition channels.
- Digital Banking Full-stack digital banking platform enabling banks to launch a new digital bank on an existing license or under a new banking license, with deployment in as fast as six months.
- Modernisation Reimagines web and mobile banking applications to meet demands of digital-first customers, enabling banks to modernise infrastructure via dual-mode evolution without disrupting existing core systems.
- Channels Delivers seamless, configurable digital banking journeys across iOS, Android, web, and partner platforms via white-label apps or native builds with audax SDKs.
- Origination Onboards individuals and businesses with fast, compliant digital journeys, automating applications, identity verification, eligibility checks, and account setup across any channel.
- IAM (Identity and Access Management) Enterprise-grade security for financial services with modern authentication, fine-grained authorisation, MFA, federated login, and delegated access for customers and internal users.
- Data Lake Consolidates, transforms, and activates data with medallion architecture; provides integrated dashboards and reporting tools for business teams to track customer activity and generate insights.
- Customer Engagement Personalised service and communication platform integrating SMS, email, push notifications, secure chat, CRM tools, knowledge articles, and structured case management.
- Operations Centralised control with real-time observability, configuration management, and monitoring dashboards, enabling backend changes without redeployment.
- Product Engine Core banking capabilities covering deposits and unsecured lending with seamless integration to existing or external product systems, supporting rapid product launches across cloud or on-premise environments.
- Payments Hub Payment orchestration platform unifying, optimising, and securing payment flows with full lifecycle management from initiation to reconciliation and card issuance.
- Cards-as-a-Service (CaaS) Enables banks and businesses to issue and manage debit, credit, and prepaid cards without heavy infrastructure investment, handling transaction processing, regulatory compliance, and fraud detection.
- Amanah Pro Islamic Banking-as-a-Service platform built on audax technology that enables Sharia-compliant banking services (Hajj and Umrah savings and pilgrimage planning) directly within the Muslim Pro app serving approximately 190 million users globally.
Quantifiable outcome
- 3x customer base growth in 6 months for Standard Chartered Indonesia
- +6 more outcomes
Companies that use audax
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles3 records
audax technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability5 records
Feature9 records
audax partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and secondary.
- 10x BankingcoreStrategic partnership combining 10x Banking's cloud-native core banking platform with audax's six-month deployment capability. Enables banks across APAC, Europe, and Middle East to modernise and launch digital services rapidly. 10x Banking processes 1B+ transactions annually with 99.99% uptime. Joint go-to-market targeting banks seeking digital transformation without traditional multi-year core overhauls.
- Amazon Web Services (AWS)coreJoined AWS Partner Network (APN) enabling audax to leverage AWS best practices and advanced technologies. AWS powers audax's digital banking deployments including Maybank Islamic transformation and Jeel (Riyad Bank) modernisation. APN membership validates audax's cloud expertise and enables access to AWS technical resources.
- FPTcoreStrategic alliance making FPT audax's largest regional partner in APAC and MEA. FPT provides cloud-native development, testing, deployment, and operational support. Partnership targets USD 100M revenue over three years. FPT has 3,000 engineers in fintech sector serving 200+ clients globally.
- TuumsecondaryPartnership initially focused on Middle East to deliver rapid digital banking capabilities and incremental core modernisation. Combines audax's 6-month deployment capability with Tuum's modular, API-first, microservices-driven architecture. Empowers financial institutions to modernise at their own pace without full system overhauls.
- Jeel (Riyad Bank)coreStrategic partnership with Jeel, the digital innovation arm of Riyad Bank, to revolutionise digital banking in Saudi Arabia. Leverages Jeel's technology innovation with audax's proven BaaS expertise. Enables rapid migration from legacy systems and flexible business models including BaaS, digital banks, super apps, and open banking. First major MEA deployment targeting Saudi Vision 2030 goals.
- SynpulsecoreStrategic partnership with global professional services firm Synpulse to create tailored solutions for incumbent banks to modernise infrastructure. Joint dual-mode approach enables banks to transition to cloud-based environments without disrupting core operations. Combined expertise aims to accelerate financial inclusion in Southeast Asia, Middle East, and Europe.
- PaymentologycoreStrategic partnership to provide end-to-end Cards-as-a-Service (CaaS) solution. Combines audax's digital banking and BaaS solutions with Paymentology's advanced card processing capabilities. Empowers banks to launch and manage branded card programs in months, streamlining the card-issuing process without complex infrastructure development.
- Thought MachinecoreStrategic partnership combining audax's digital banking platform with Thought Machine's Vault Core cloud-native core banking technology. Enables financial institutions to swiftly modernise infrastructure, create new revenue streams, and offer fully customisable financial products. Partnership reduces need for multiple vendors and streamlines digital banking deployments.
- Mastercardsecondaryaudax selected as part of Mastercard Start Path 2024 program for Open Banking and Embedded Finance. Nine fintechs chosen to scale and transform financial services by powering experiences enabling consumer and small business choice.
Scale indicators14 records
Recent moves7 records
Expansion highlights7 records
audax competitors and assessment
Company assessmentDirect peers
- Tuum: Tuum provides a modular, API-first, microservices core banking platform. audax partnered with Tuum (announced 2024-12-11) for Middle East deployments, but they also compete head-to-head as another modular core/digital banking platform targeting incumbent bank modernization.
- Backbase: Backbase offers a digital banking and engagement platform layered on top of legacy core systems, with a strong 'modernization without rip-and-replace' proposition that closely parallels audax's dual-mode evolution approach for incumbent banks.
- Mambu: Mambu is a cloud-native banking platform serving challenger banks and incumbents seeking to launch digital banking services — a direct competitor to audax's modular digital banking platform and BaaS infrastructure offerings.
- 10x Banking: 10x Banking provides a cloud-native core banking platform and is both an audax partner (joint GTM announced 2025-12-08) and direct competitor in the cloud-native digital banking platform space, processing 1B+ transactions annually with 99.99% uptime.
- Thought Machine: Thought Machine's Vault Core is a cloud-native core banking platform that audax bundles with (partnership announced 2024-02-28). It is highly comparable as both partner and direct competitor in the cloud-native core / digital banking platform category.
- Marqeta: Marqeta is a modern card-issuing and BaaS infrastructure platform — directly comparable to audax's BaaS platform and its Paymentology-powered Cards-as-a-Service (CaaS) module for embedded card programs.
Broad incumbents
- Thought Machine Vault Core partnership / nCino: nCino is an established cloud banking platform focused on commercial, retail, and digital banking workflows — a broader incumbent targeting incumbent banks similar to audax's Tier 1 customer base, though with a heavier commercial-banking orientation.
- Galileo Financial Technologies: Galileo (a SoFi company) provides a broad payments and BaaS infrastructure platform for card issuing, account processing, and embedded finance — comparable to audax's BaaS and Payments Hub modules but with a larger established footprint.
- Temenos: Temenos is an established, broad-scope banking software incumbent offering core banking, digital banking, and BaaS suites to large incumbent banks globally — competing with audax at the modernization RFP level though with a much larger legacy and product portfolio.
Emerging players
- Paymentology: Paymentology is audax's CaaS partner (announced 2024-05-14) providing card processing infrastructure. As an emerging card-issuing/embedded payments player in SEA and MEA, it overlaps significantly with audax's Cards-as-a-Service and Payments Hub modules.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
audax social profiles
Digital presenceaudax compliance and trust
Trust signalCompliance1 record
audax financial estimates
Financial estimateRevenue estimate
Valuation estimate
audax leadership team
Management profileNumber of profiles
Profiles8 records
audax funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
audax M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about audax
What does audax do?
audax provides a cloud-native, modular, API-first digital banking platform that banks and financial institutions deploy to launch and scale digital banking, Banking-as-a-Service (BaaS) and embedded finance propositions. The platform comprises modules for Channels, Origination, IAM, Data Lake, Customer Engagement, Operations, Product Engine and Payments Hub, and is sold with implementation, managed services and advisory support for go-live within 6–9 months.
Is audax a public or private company?
audax is a private company. It is classified as corporate owned and is currently operating.
When was audax founded?
audax was founded in 2023. It employs 51 to 100 people.
Where is audax based?
audax is headquartered in Singapore, Singapore, in the Asia region.
How does audax make money?
Four revenue lines are on record. Digital Banking Platform Subscription is the primary driver. The others are platform Delivery & Implementation, banking-as-a-Service Infrastructure and consulting & Advisory Services.
Who are audax's main competitors?
Direct peers on record are Tuum, Backbase, Mambu, 10x Banking, Thought Machine and Marqeta. Broad incumbents are Thought Machine Vault Core partnership / nCino, Galileo Financial Technologies and Temenos. Paymentology is listed as an emerging player.
Does audax have an API?
Yes. audax provides API-driven digital banking platform enabling banks to expose financial services to third-party platforms. The platform enables API-based integration with partner ecosystems, supporting Banking-as-a-Service (BaaS) models through secure APIs. The platform's Payments Hub acts as a payment orchestration platform integrating with existing payment systems and card processors via APIs. The IAM module provides delegated access and federated login capabilities via governed APIs. AI capabilities are orchestrated through MCP (Model Context Protocol) enabling AI assistants to access banking context through governed APIs.
What industry is audax in?
audax's product category is Digital Banking Platform. Its primary akta.pro industry code is FSAGALAA, BaaS Platforms & Sponsor Bank Enablement, with a secondary code of BPAMAFAD, Digital Banking & Neobank Platforms. Its NAICS code is 5182 and its SIC code is 7372.