Temenos announced that US-based Commerce Bank has gone live with FedNow on Temenos Payments Hub delivered as Temenos SaaS, enabling real-time payments. The go-live with the FedNow Service on the Temenos platform is part of the bank’s modernization strategy, progressively moving off legacy systems to a consolidated cloud-native platform. Commerce can offer FedNow real-time payments using Temenos Payments Hub and expand capacity to accommodate future needs on a platform that handles multiple payment types.
David Roller, chief information officer at Commerce Bank, said in a statement: “Commerce is focused on staying at the forefront of technology to ensure the best service to our customers and we are delighted to enable FedNow real-time payments with Temenos. This continues our modernization path as we build value on the Temenos platform, adding capabilities that allow us to meet the rising expectations for our customers.”
Philip Barnett, Americas president at Temenos, said in a statement: “This latest go-live with FedNow real-time payments will further elevate the experience for Commerce’s customers and proves the strength of our banking and payments platform, which is tailored for the needs of US banks. Our single code base across core banking and payments with robust localization is a competitive advantage for Temenos and we continue to invest making our offering the most compelling in the market.”