US-based Commerce Bank, part of Commerce Bancshares, has deployed the core banking platform of Temenos to digitise its legacy systems.
This partnership is aimed at enhancing Commerce’s ability to innovate and integrate new technologies.
Commerce, which has been operating in the banking space for over 150 years, will leverage Temenos’ platform for quickly launching new products and services.
Temenos’ platform is also expected to provide the lender with straight-through processing and an overall view of customer relationships.
Commerce Bank chief information officer David Roller said: “Commerce is focused on staying at the forefront of technology to ensure the best service to our customers. We recognise that a modern core banking platform is an accelerator for innovation and digital customer experiences. The Temenos platform will enable Commerce to deliver innovative solutions for our customers today and well into the future.”
Temenos CEO Max Chuard said: “Incumbent banks and challenger banks are facing stiff competition from within the industry and outside, as customer expectations for personalised, fast and easy banking interactions continue to increase.
“At the same time, legacy vendors are not able to provide the cloud-agnostic, composable banking services that continue to make Temenos an industry leader. Our open platform provides the foundation that empowers Commerce to solve customer challenges in new and exciting ways.”
Last week, Temenos rolled out new services for challenger banks, aimed at helping them scale quickly and at reduced costs.