Czech Republic’s Komerční banka selects Temenos Transact

By Megha Bhattacharya

Czech Republic-based financial institution Komerční banka has selected Temenos Transact today in a bid to enhance its retail and corporate banking solutions. Komerční banka, a member of the Société Générale Group, will benefit from improved account management services, reduced time to market and straight-through processing across its retail and corporate banking operations.

According to Temenos, the collaboration will enable Komerční banka to deliver an enhanced service with real-time processing and acceleration of customer journeys in retail and corporate segments. The Bank will also be able to rationalize its product portfolio and provide a foundation to future-proof business growth.

Jan Juchelka, Komerční banka’s Chairman and CEO, commented, “We have selected the new software platform because of its robust design and also its open and modern architecture. We are delighted to have an opportunity to benefit from the expertise and experience of Temenos, whose clients include the world’s largest financial institutions. 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 now and in the future. 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 and so, ultimately, innovate faster and bring an added value to our clients.”

Universal bank Komerční banka offers a range of services in retail, SME, corporate and investment banking to around 1.6 million customers. Its services are accessible through a network of more than 240 branches as well as digital banking channels including mobile and internet banking.

Recently, Temenos announced that Alpian SA has selected its Temenos Transact, core banking and Temenos Payments delivered as SaaS for enhancing its digital private banking and wealth management services in Switzerland. According to Temenos, the SaaS technology will enable Alpian to launch its new bank and banking services focused on the mass affluent (those with investible assets of between CHF 100k – 1 million).

Jean-Michel Hilsenkopf, Chief Operating Officer, Temenos said, “Komerční banka is a large financial institution that has shown a real commitment and appetite for innovation to deliver a market-leading service to its customers. Now, with Temenos cloud-native technology, it can supercharge these efforts and bring new products to market much faster and on a lower cost base. With heightened competition and new regulation putting pressure on margins across the industry, this capability is a huge competitive advantage that will help Komerční banka to grow its client base and ultimately increase market share and profits. Temenos has a long term strategic relationship with Société Générale and Komerční banka is a new step in this long and successful partnership.”