Almost one in five Czech citizens trusts Komerční banka to manage their finances. To expand its client base even further, the bank — part of the Société Générale financial group — aimed to launch fresh, innovative savings and lending services and to modernize its account management infrastructure. Komerční banka chose Temenos Transact to transform its core banking environment and increase straight-through-processing across its retail and corporate operations.
Komerční banka has now completed the first phase of its core banking system replacement, going live on Temenos Transact in less than 12 months with implementation partner, Syncordis. During this first phase, Komerční banka went live with customer onboarding and deposit products with integrations to front-end and payment solutions via REST APIs and events. The Temenos core banking solution aims to improve the time to market for user-friendly new products, while the open API-first architecture enables Komerční banka to integrate its environment with third-party applications to enhance its client services. With the solution in place, the bank will strengthen its position as a digital leader and attract even more customers.
“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.”Jan Juchelka, Chairman and CEO, Komerční Banka
The new core banking system provides 24/7 availability, a multi-entity setup, and a modular approach as an enabler for digitizing its business propositions and for offering personalized and flexible products. The existing and new core banking systems will run in parallel for a certain time to ensure a smooth transition and limit operational risks.
Embracing Temenos’ open platform approach has also enabled Komerční banka to adopt industry-standard components, including an open-source relational database management system (RDMS) for Temenos Transact and deployment in Kubernetes open-source containers.
“Working together, Temenos and Syncordis ensured a successful implementation in record time. The new platform sets us free, opening up new possibilities to improve the service to customers and deliver outstanding digital experiences. This is a big step forward in our strategy to be the leader in digital banking for two million clients by 2025.”Margus Simson, CDO, Komerční banka