Temenos goes public with Commerce Bank deal
Temenos has gone on the record about its core banking software deal with US-based Commerce Bank. As reported exclusively by Banking Technology in June, Temenos was heading towards a contract with Commerce Bank – competing with Fiserv and its DNA offering.
Temenos’ T24 core banking system will support retail and commercial deposits at the bank.
David Roller, CIO of Commerce Bank, believes T24 “will enable Commerce to bring innovative products to market more quickly and efficiently”. He adds that the vendor “has the people, culture, and technology to fulfil our vision, which is why we’ve chosen Temenos as our strategic technology partner”.
David Arnott, CEO of Temenos, states: “On the back of this win, we see the potential to build significant market share here in the US.”
Commerce Bank has a 150+ year history and originates from Kansas City, Missouri. It is the 37th largest bank in the US by assets today. Its asset size is $24.7 billion.
The bank has a network of 350 locations in Missouri, Kansas, Illinois, Oklahoma and Colorado, and commercial offices in Cincinnati, Nashville and Dallas. It also operates nearly 400 ATMs.