Commerce Bank goes live on Temenos core banking platform to reimagine banking for the digital era
GENEVA, Switzerland– Temenos (SIX: TEMN), the banking software company, today announced that Commerce Bank (NASDAQ: CBSH) has gone live with Temenos core banking platform. This milestone completes Commerce Bank’s modernization project to move from its legacy systems for deposits to a modern, agile and open platform tailored for the US market.
Named again among America’s Best Banks by Forbes, Commerce Bank has been serving customers for over 150 years. Commerce operates using a “super community bank” model that combines the best of small with the best of big. This requires bringing together sophisticated banking products with high-touch, high-tech delivery to create and build deep relationships. Operating with a long-term view and a focus on the customer, Commerce modernized and consolidated its systems, enabling innovation, real-time and straight-through processing, and a 360° view of the customer relationship.
Commerce chose Temenos as its strategic technology partner for its highly flexible, agile banking platform. Temenos’ modern platform will increase operational efficiency, enhance Commerce’s ability to innovate and incorporate emerging technologies. Empowered by a modern platform, Commerce will benefit from rapid speed-to-market for new products and banking services. The Temenos U.S. model bank approach will help Commerce meet the unique business and regulatory needs of the market in an efficient and cost-effective way.
David Roller, Chief Information Officer, Commerce Bank, commented: “Commerce is focused on staying at the forefront of technology to ensure the best service to our customers. We recognize 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.”
Max Chuard, Chief Executive Officer, Temenos, said: “We are delighted to see Commerce Bank complete its core banking system modernization. This proves the strength of our banking platform, which is tailored for the needs of US banks from large regional incumbents, and global disruptors to challenger banks. Temenos continues to see strong momentum in the United States, and we’re excited to add this milestone to our achievements. Incumbent banks and challenger banks are facing stiff competition from within the industry and outside, as customer expectations for personalized, fast and easy banking interactions continue to increase. At the same time, legacy vendors aren’t 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.”