Commerce Bank goes live with Temenos loan origination solution

By Gloria Methri

US-based Commerce Bank has gone live with Temenos’ (Infinity) loan origination solution, increasing operational efficiency and delivering a hyper-personalized customer experience.

The latest go-live follows the modernization of the bank’s core banking system, moving from legacy systems for deposits to Temenos’ modern open platform tailored for the US market. In 2022, the bank migrated over 2.5 million customers and 6.9 million accounts to the Temenos platform.

Temenos (Infinity) Loan Origination offers powerful decisioning, customizable applications, various features, and extensive third-party integrations. The solution has been deployed to create a fast, omnichannel origination experience for securities-based loans and lines of credit provided through Commerce Trust – Commerce’s Private Bank.

Commerce previously relied on manual calculations, documentation and collateral gathering to process applications. With Temenos (Infinity) Loan Origination, Commerce has automated the process with increased digitization to eliminate paper processes, improve reliability and drive the end-to-end product origination process down to 5 minutes or less.

John Handy, President and Chief Executive Officer for Commerce Trust, said, “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 to 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.”