Temenos announced today that Next Commercial Bank, a new digital bank supported by Chunghwa Telecom, Taiwan’s largest telecom operator, has gone live on the Temenos core banking platform and will begin accepting customers in 2022.
Next Bank, one of Taiwan’s first digital banks to receive a virtual banking licence from the island’s Financial Supervisory Commission (FSC), is creating a bank that simplifies financial management through innovative thinking, design aesthetics, and friendly experiences.
Next Bank can bring products to market quickly and efficiently using the Temenos open platform. Today, the digital bank provides deposits, cards, loans, and an innovative points programme that provides customers with cashback on purchases, all through a mobile app. Customers can open an account and choose their bank account number in just three minutes, creating a unique and personalised experience.
The bank intends to introduce foreign-exchange services, such as remittance services for migrant workers and wealth management tools, over time. Next Bank, which is powered by Temenos, intends to rapidly expand to nearly 300,000 customers within nine months of its launch.
Temenos core banking underpins the entire operation of the bank. It is built on microservices and accessible via APIs, allowing Next Bank to innovate quickly and scale its business quickly and sustainably.
Eric Lee, Chief Information Officer, Next Bank, said: “We are excited to launch Next Bank on the Temenos platform. Next Bank operates under the principle of inclusive financing, which aims to provide consumers with universal access to a wide range of financial services. With Temenos, we were able to efficiently build the bank with innovative features that will help customers take charge of their finances and enable us to scale our business and accelerate growth in the future.”
News Source Link
#global #modernglobalnews #news #modernbusinessnetwork #modernglobalbusiness #business #market #stock#modernbusinessasia #modernbusinesseurope #health
