Komerční banka, a Czech member of the Société Générale Group, has selected Temenos Transact for its retail and corporate operations.

The bank picked Temenos after a “rigorous” process

The bank selected Temenos after what the vendor calls a “rigorous selection process”. Temenos says that its “rich functionality” was a major factor in Komerční’s decision.

Komerční banka provides retail, small and medium-sized enterprise (SME), corporate and investment banking to around 1.6 million customers. Its services are accessible through 240 branches, on top of mobile and internet banking.

The bank reported assets of $49 billion in 2019, and a net income of $1.49 billion.

Komerční plans to simplify and consolidate the systems it uses across its infrastructure. The bank is aiming to reduce its time to market for new products.

“We have selected the new software platform because of its robust design and also its open and modern architecture,” says Jan Juchelka, the bank’s CEO.

“It is important for us to work with a partner who shares our approach to innovation and who will help us to use the latest technologies.

“Our objective is to achieve the highest level of customer satisfaction in the market. Thanks to the new software platform we can work in agile, flexible, and effective manner.”

Temenos chief operating officer, Jean-Michel Hilsenkopf, says the bank shows “real commitment and appetite” for innovation.

He adds that it can now “supercharge” these efforts and” bring new products to market much faster and on a lower cost base”.

Another January 2021 win for Temenos arrived in the form of Egypt’s Arab Investment Bank. It picked Temenos and its Infinity and Payments solutions.

The Swiss vendor closed out 2020 with deals for compatriot challenger bank Alpian and US de novo bank ACDC.

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