Regions Bank selects Temenos to take its core banking to the cloud
By Gloria Methri
US-based Regions Bank has selected Temenos to modernize its legacy systems for customers’ records and deposits on the Temenos Banking Cloud. The move to software as a service (SaaS) will enable Regions Bank to deliver more seamless customer experiences and personalized banking products to help consumers and businesses reach their financial goals.
With $155 billion in assets, Regions Bank is one of the United States’ largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Temenos leverages deep banking expertise to deliver an open, cloud-native, and highly scalable platform combined with a commitment to research and development.
Regions Bank, together with Commerce Bank, a full-service regional bank across the Midwest, which completed its core transformation on the core banking platform in early 2022, will collaborate with Temenos to help guide its product roadmap for the US market.
John Turner, President and CEO of Regions Financial Corporation, said, “Modernizing our core systems supports our ongoing focus on innovation and delivering value to our customers through personalized offerings and intuitive, streamlined experiences. This, in turn, paves the way for continued, sustainable growth. We look forward to collaborating with Temenos on the evolution of banking technology in the US.”
Andreas Andreades, Executive Chairman, of Temenos, said, “This is a highly strategic win for Temenos in the US, an important region for us, and where we are seeing tremendous growth in SaaS. With the best customer references such as Commerce Bank, Varo Bank, and a global payments provider amongst others, and a proven US model bank that is fully compliant with US regulations, delivering advanced cloud and SaaS technology and developing US pre-configured banking capabilities, is now compelling for US banks of all sizes, even the largest to move to Temenos.”
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