NEW YORK, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Temenos (SIX: TEMN), today announced
that Commerce Bank, a top US bank, has gone live with Temenos' (Infinity) loan
origination solution (https://www.temenos.com/products/digital-banking/customer-
acquisition/temenos-origination/), increasing operational efficiency and
delivering a frictionless, hyper-personalized customer experience.
The latest go-live follows the successful modernization of the bank's core
banking system (https://www.temenos.com/news/2022/02/14/top-50-us-bank-
completes-core-transformation-with-temenos/), moving from legacy systems for
deposits to Temenos' modern, agile and open platform tailored for 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.
Named among America's Best Banks by Forbes, Commerce operates using a "super
community bank" model that brings together sophisticated banking products with
high-touch, high-tech delivery to create and build deep relationships.
Temenos (Infinity) Loan Origination offers powerful decisioning, highly
customizable applications, dynamic features, and extensive third-party
integrations. The solution has been deployed to create a fast, omni-channel
origination experience for securities-based loans and lines of credit provided
though Commerce Trust - Commerce's Private Bank.
Commerce previously relied on manual calculations, documentation and collateral
gathering to process applications, which was complex to configure and set up.
With Temenos (Infinity) Loan Origination, Commerce has been able to automate the
process with increased digitization to eliminate paper processes, improve
reliability and drive end-to-end product origination process down to 5 minutes
or less.
John Handy, President and Chief Executive Officer for Commerce Trust, commented:
"Commerce helps high-net-worth individuals simplify their complex financial
lives. The Temenos' loan solution will help us keep ahead of the competition, to
take the lending experience to the next level, increasing staff efficiency and
customer satisfaction."
Philip Barnett, President - Americas, Temenos, said: "We are delighted to build
on our close relationship with Commerce to modernize its loan origination
capability. This latest go live 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. Private banking is an increasingly
competitive segment in the US and with Temenos, Commerce can continue to
differentiate and meet the rising expectations for personalized, fast and easy
banking interactions."
Temenos was recently named a Leader in IDC MarketScape: North America Lending
Decisioning Platforms and is ranked as the #1 best-selling 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/) by IBS
Intelligence.
About Temenos
Temenos (SIX: TEMN) is the world's leading open platform for composable banking,
creating opportunities for over 1.2 billion people around the world every day.
We serve 3000 banks from the largest to challengers and community banks in 150+
countries by helping them build new banking services and state-of-the-art
customer experiences. The Temenos open platform helps our top-performing clients
achieve return on equity three times the industry average and cost-to-income
ratios half the industry average.
For more information, please visit www.temenos.com (http://www.temenos.com).
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