- Commerce Bank Modernisation Strategy:
- Commerce Bank, headquartered in Kansas City, has gone live with the FedNow instant payments service.
- This is part of the bank’s ongoing modernisation efforts.
- Partnership with Temenos:
- The bank’s real-time payment capabilities were achieved through its partnership with Temenos.
- Previously, Commerce Bank deployed Temenos’ core banking platform in 2022 and its Infinity loan origination solution in February 2023.
- Implementation of Temenos Payments Hub:
- Commerce Bank selected the Temenos Payments Hub to integrate sophisticated banking products with FedNow’s real-time payment service.
- The hub offers features like straight-through processing, automated exception handling, cloud security, intelligent routing, and configurable workflows.
- Technology and Services:
- The Temenos Payments Hub is delivered via Software-as-a-Service (SaaS).
- The bank also uses Temenos’ US Model Bank, a set of pre-configured banking processes tailored to the US market.
- Statements from Commerce Bank:
- David Roller, CIO of Commerce Bank, highlighted that this selection continues the bank’s modernization path, aiming to meet rising customer expectations.
![Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub](https://www.fintechinshorts.com/wp-content/uploads/2024/05/pexels-artempodrez-5716006-1068x601.jpg)
Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub
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