Next Commercial Bank represents a new concept in Taiwan: a digital-only bank providing retail and corporate customers with innovative, personalized services. After receiving one of the first virtual banking licenses granted in the country, Next Commercial Bank is targeting a rapid launch in 2020, as well as acquiring 1 million clients within three years. To realize this vision, the bank selected Temenos Transact to support its core banking operations. The pre-integrated compliance modules of the Temenos platform will simplify the go-to-market process by ensuring the bank satisfies local regulatory requirements. Similarly, Next Commercial Bank will be able to build customized savings, deposits and lending products to attract customers and challenge the primacy of more established players in the Taiwanese market.
“We are excited to partner with Temenos as we prepare to launch Next Bank in Taiwan. Temenos’ vast experience deploying digital banking software across Asia and in Taiwan itself means Next Bank will benefit from applied regional and local best practices and can expect a smooth launch later this year.”Wang Tun Chou, Chief Information Officer, Next Bank