Shanghai Commercial & Savings Bank Selects Temenos for Retail and Corporate Banking

Shanghai Commercial & Savings Bank (SCSB), one of the listed banks in Taiwan, has selected Temenos and IBM to replace its legacy core systems with Temenos open platform for composable banking.

IBM Consulting will lead the SCSB modernization project with implementation partner Nagarro/TechMill.

SCSB will adopt Temenos core banking, payments, and data lake functionality to support Retail, Corporate, Trade and Treasury banking, including offshore and domestic deposit and remittance businesses.

Alex Lin, President, SCSB, commented:"We are constantly looking to innovate and improve to stay ahead of the times and our customers' needs. With disruptive technologies, the pace of change is faster than ever, and a legacy core was holding us back. Partnering with Temenos and IBM, we can transition to a modern technology platform that will enable us to quickly build customized digital financial products and maximize shareholders' value through agile and flexible operations. The new platform will drive scalable efficiency and ensure SCSB is poised to seize new opportunities in a rapidly changing world."

Philip Barnett, President of Strategic Growth, Temenos, said:"Temenos is delighted to be selected by SCSB, providing the core banking functionality to support the development of its retail and corporate banking businesses. Our expanded collaboration with IBM is critical in helping banks like SCSB accelerate their move to the cloud and capitalize on the full benefits of a modern cloud-native banking platform. Temenos offers the depth of functionality to enable large banks like SCSB to integrate multiple entities with multiple languages and currencies on a single composable platform. Temenos has a strong and growing presence in Taiwan with SCSB joining the region's leading banks choosing the Temenos platform."