Temenos selected as core banking platform at Taiwan’s new digital bank, Next Bank
“I’m delighted to see Next Bank go live on Temenos, the platform of choice for more than 70 challenger banks worldwide. As one of the first neobanks in Taiwan, Next Bank is already setting a new standard for digital banking in the market.”
Next Commercial Bank, a new digital bank operating in Taiwan, has gone live on Temenos core banking platform, opening to customers during 2022.
Next Bank received a virtual banking license from the island’s Financial Supervisory Commission (FSC) and is building a bank that makes financial management simple.
Next Bank to add FX services
The digital bank currently offers deposits, cards, loans, and a points program giving customers cashback on purchases, all accessible via a mobile app. Client onboarding takes three minutes and allows users to choose their bank account number, creating a unique and personalized experience.
Temenos core banking is accessible via APIs. The Temenos open platform allows the bank to bring products to market fast and scale efficiently. Next Bank plans to introduce foreign-exchange services, including remittance services for migrant workers and wealth management tools.
The Taiwanese bank’s digital nature and upcoming product offering will be leveraged to expand its customer base to nearly 300,000 customers within nine months of its opening.
Temenos deployed by over 70 challenger banks worldwide
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.”
Craig Bennett, Managing Director – Asia Pacific, Temenos, said: “I’m delighted to see Next Bank go live on Temenos, the platform of choice for more than 70 challenger banks worldwide. As one of the first neobanks in Taiwan, Next Bank is already setting a new standard for digital banking in the market. Temenos open platform will empower Next Bank to continue to thrive in the world of instant, always-on services, breaking boundaries to deliver the future of banking today. We are proud to partner with them on this exciting journey to power new growth opportunities and deliver the ultimate customer experience.”