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Taiwan’s Next Bank Finds Core Banking Composability With Temenos

A new Chunghwa Telecom-backed digital bank launches on the Temenos core banking platform to bring products to market and scale efficiently.

Next Commercial Bank, a new digital bank backed by Chunghwa Telecom, the largest telecom operator in Taiwan, has gone live on Temenos Transact.

Next Bank received its virtual banking license from the Financial Supervisory Commission (FSC) of Taiwan in November 2021. It remains one of the first digital banks to receive such a license from the island’s regulator.

Following this, the digital bank opened Temenos to its customers a year later. Its identity aligns with simple financial management backed by user-friendly experiences.

“Next Bank operates under the principle of inclusive financing, which aims to provide consumers with universal access to a wide range of financial services,” comments Eric Lee, the bank’s chief information officer.

Temenos core banking

Evidently, this is the bread and butter of the Temenos core banking platform. Its broad breadth of functionality will have no doubt been seen as highly attractive to the developing digital bank.

This includes the issuance of its deposits, cards, loans and account services. These sit alongside its points programme which rewards customers with cashback when making purchases. As a digital bank, its services are predominantly app-based while Temenos core banking underpins its entire operations.

Built on microservices and accessible via APIs, it consequently enables continuous innovation and delivery for Next Bank to innovate fast and scale its business quickly and sustainably. At this time, the Temenos platform serves over 70 like-minded challenger banks worldwide.

“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,” continues Lee.

Next Bank Temenos
Craig Bennett, managing director – Asia Pacific, Temenos

Over time, the bank plans to introduce foreign-exchange services, including remittance services for migrant workers and wealth management tools. Powered by Temenos, Next Bank is projected for 300,000 customers within nine months of its opening.

Craig Bennett, APAC MD for Temenos, recognises that, as one of the first neobanks in Taiwan, Next Bank is “already setting a new standard for digital banking in the market.”

Moreover, “Temenos open platform will empower Next Bank to thrive in the world of instant, always-on services,” he concludes.


  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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