Ripple-friendly Temenos, which builds software for banks, has been chosen by Komerční banka (one of the major banks in the Czech Republic) to help it undergo a digital transformation and ensure future business expansion. The bank also belongs to Société Générale.
The news was reported by Business Wire.
The bank to leverage the Temenos solution
The Czech-based bank is to cooperate with Temenos and utilize its solution to modernize the corporate and retail sectors of its banking activity.
The choice was made after a long selection process in which other candidates were rejected. Now, Temenos will help the bank to accelerate innovative implementation and improve its services working with accounts for deposits and lending for its clients (1.6 million of them).
The bank offers a universal range of services for retail, SME and corporate customers, including investment products, internet banking and more at its 240 branches.
Reviving the bank's digital leadership
With help from Temenos, Komerční banka plans to revive its leadership in digital banking in the country and ensure a long-term strategy for it.
Among other assistance, Temenos will help the bank simplify its IT systems and consolidate them on its Temenos Transact platform so that the bank can be quicker in sending new products to the market.
Aside from that, Temenos will ensure the foundation of the bank's future-proof business growth and development, as well as integrate new services and improve the customer experience.