^NEW YORK, Feb. 21, 2024 (GLOBE NEWSWIRE) — Temenos (SIX: TEMN), announced today
announced that Commerce Bank, a leading US bank, is now using the Temenos solution
(Infinity) for lending (https://www.temenos.com/products/digital-
banking/customer-acquisition/temenos-origination/) is used to ensure operational
To increase efficiency and provide your customers with a smooth, maximum experience
to provide personalized experience.
This latest innovation follows the successful modernization of the
core banking systems (https://www.temenos.com/news/2022/02/14/top-50-us-bank-
completes-core-transformation-with-temenos/) of the bank, that of legacy systems
for deposits switched to the modern, agile and open platform of Temenos
which is tailored to the US market. In 2022 the bank migrated
over 2.5 million customers and 6.9 million accounts
(https://www.temenos.com/community/success-stories/commerce-bank-success-story/)
to the Temenos platform.
Commerce was named one of America’s “Best Banks” by Forbes and
operates on a “Super Community Bank” model that provides sophisticated banking
Products with high-touch and high-tech performance combined to create depth
to establish and build relationships.
Temenos (Infinity) lending is characterized by high performance
Decision making, highly customizable applications, dynamic features
and extensive third-party integrations. The solution was
provided to provide fast lending across many channels for
to enable securities-based loans and lines of credit available through Commerce
Trust – Commerce’s private bank.
Previously, Commerce was involved in processing requests for manual calculations,
Documentation and collecting collateral is required, which is complex
had to be configured and set up. Temenos’ lending
(Infinity) enables Commerce to strengthen the process
digitalization to automate, eliminate paper processes, the
Improve reliability and the end-to-end product procurement process
5 minutes or less to reduce.
John Handy, President and Chief Executive Officer for Commerce Trust,
comments:?Commerce helps wealthy individuals manage their complex
Simplify your financial life. Temenos’ loan solution will help us
Stay one step ahead of the competition, taking lending to the next level
to increase employee efficiency and customer satisfaction
increase.”
Philip Barnett, President of Temenos for the Americas, explains: “We
We are pleased to be able to expand our close relationship with Commerce to help you
Modernize the lending process. This latest introduction proves that
Strength of our banking solutions tailored to the needs of US banks
Platform – from large regional incumbent banks to global disruptors
to challenger banks. Private banking is increasingly competitive
suspended segment in the USA, and with Temenos Commerce can expand further
stand out and the increasing expectations for personalized, fast and easy
carry out banking transactions.”
Temenos was recently featured in?IDC MarketScape: North America Lending Decisioning
Platforms” as a leader and best-selling by IBS Intelligence
Banking software for digital banking and channels
(https://www.temenos.com/news/2023/07/12/ibs-intelligence-recognizes-temenos-as-
the-1-best-selling-banking-software-across-eight-categories-the-highest-awarded-
to-any-technology-provider/).
About Temenos
Temenos (SIX: TEMN) is the world’s leading open composable platform
Banking and creates opportunities for over 1.2 billion people every day
the whole world. We support 3000 banks, from the largest to
Challengers and community banks in over 150 countries, in development
new banking services and state-of-the-art customer experiences. The open platform
from Temenos helps our most successful customers achieve a return on equity
achieve three times the industry average and a cost
Earnings ratio that is half the industry average.
For more information, visit www.temenos.com
(http://www.temenos.com/).
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