GENEVA, Switzerland, 3rd March 2010 – Temenos Group (SIX: TEMN), the market-leading provider of integrated core banking systems, today announces that, for the third consecutive year, IBS Intelligence has ranked TEMENOS T24 (T24) in the top position in its 2009 Sales League Table. Temenos was one of very few vendors to increase sales in 2009 and the only one of the top 5 vendors to do so, underpinning its strong share gains in a market that shrunk in 2009. Temenos has maintained one of the top two positions in the League table for over a decade.
Martin Whybrow, editor of International Banking Systems Journal, comments: “The results show that 2009 was a tough year for back office suppliers around the globe, with extended decision making and limited investment, particularly among tier 1 banks, and our analysis shows that there were fewer deals compared to 2008. Despite this, Temenos had a strong year, continuing to sell well in most geographies and gaining its fair share of the year’s high-end and multi-site deals. The fundamental drivers behind banks’ core systems selection last year focused on efficiency gains to improve customer service, boost product innovation and maintain cost control. The breadth of T24 is a strength, as is Temenos’ international reach and resources’.
Andreas Andreades, CEO, Temenos, comments: “The IBS league table confirms that Temenos extended its leadership in the core banking market in 2009. We increased our presence in the tier 1 market with eight new deals and continued to expand our market coverage with new deals in India, Jordan and Georgia. Our value proposition clearly helps Temenos customers enjoy higher profitability than peers and is resonating with the market. Our R&D model, which channels higher relative and absolute R&D into a single platform, with annual releases and model bank pre-configured best practice processes, is reinforcing our competitive advantage which increases every year. It is increasingly more difficult for our competitors to catch up as we successfully leverage this advantage and certainly products with very few sales are unlikely to be able to fund the R&D spend required to compete effectively.
Commenting on Temenos’ prospects for 2010, Andreades adds, “The improvement in market conditions that we saw in Q3 and Q4 of 2009 has been sustained into 2010 – as a result we expect an even more successful sales growth performance this year.”
As a company that focuses 100% of its development resources on packaged software for the banking industry, Temenos is uniquely positioned in that it provides a single release of its product across all geographies and banking sectors including retail, corporate, universal, private wealth, Islamic and microfinance.
Overall, 2009 was a very successful and active year for Temenos. New strategic partnerships were forged with Cognizant and Microsoft, making T24 more widely available and increasing the technology choice for banks. Temenos also partnered with IBM to deliver T24 on the mainframe, giving customers the ability to run its software without having to change technology platforms.
Temenos continued to execute its acquisition strategy in 2009 when it made its biggest acquisition to date with the purchase of leading French core banking vendor Viveo Group. This allows Temenos to extend its sales channel and client base while opening up new market opportunities in Compliance with Anti Money Laundering Software and Payments.
The IBS Sales League Table is published by IBS Publishing and is based on sales of back-office banking systems to new clients. IBS Publishing is dedicated to the wholesale, retail and private back office systems market sector.
About Temenos
Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group AG is a global provider of banking software systems in the Retail, Corporate & Correspondent, Universal, Private, Islamic and Microfinance & Community banking markets. Headquartered in Geneva with 58 offices worldwide, Temenos serves over 700 customers in more than 120 countries. Temenos’ software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ experience in over 600
implementations around the globe. Temenos’ advanced and automated implementation approach, provided by its strong Client Services organisation, ensures efficient and low-risk core banking platform migrations. Temenos is top of the IBS Sales League Table 2009, winner every year since its launch of the Best Core Banking Product in Banking Technology magazine’s Readers’ Choice Awards and ranks 26th in the American Banker top 100 FinTech
companies. Temenos customers are proven to be more profitable than their peers: data from The Banker – top 1000 banks shows that Temenos’ customers enjoy a 54% higher return on assets, a 62% higher return on capital and a cost/income ratio that is 7.2 points lower than non-Temenos customers.
Andreas Andreades, CEO, Temenos, comments: “The IBS league table confirms that Temenos extended its leadership in the core banking market in 2009. We increased our presence in the tier 1 market with eight new deals and continued to expand our market coverage with new deals in India, Jordan and Georgia. Our value proposition clearly helps Temenos customers enjoy higher profitability than peers and is resonating with the market. Our R&D model, which channels higher relative and absolute R&D into a single platform, with annual releases and model bank pre-configured best practice processes, is reinforcing our competitive advantage which increases every year. It is increasingly more difficult for our competitors to catch up as we successfully leverage this advantage and certainly products with very few sales are unlikely to be able to fund the R&D spend required to compete effectively.
Commenting on Temenos’ prospects for 2010, Andreades adds, “The improvement in market conditions that we saw in Q3 and Q4 of 2009 has been sustained into 2010 – as a result we expect an even more successful sales growth performance this year.”
As a company that focuses 100% of its development resources on packaged software for the banking industry, Temenos is uniquely positioned in that it provides a single release of its product across all geographies and banking sectors including retail, corporate, universal, private wealth, Islamic and microfinance.
Overall, 2009 was a very successful and active year for Temenos. New strategic partnerships were forged with Cognizant and Microsoft, making T24 more widely available and increasing the technology choice for banks. Temenos also partnered with IBM to deliver T24 on the mainframe, giving customers the ability to run its software without having to change technology platforms.
Temenos continued to execute its acquisition strategy in 2009 when it made its biggest acquisition to date with the purchase of leading French core banking vendor Viveo Group. This allows Temenos to extend its sales channel and client base while opening up new market opportunities in Compliance with Anti Money Laundering Software and Payments.
The IBS Sales League Table is published by IBS Publishing and is based on sales of back-office banking systems to new clients. IBS Publishing is dedicated to the wholesale, retail and private back office systems market sector.
About Temenos
Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group AG is a global provider of banking software systems in the Retail, Corporate & Correspondent, Universal, Private, Islamic and Microfinance & Community banking markets. Headquartered in Geneva with 58 offices worldwide, Temenos serves over 700 customers in more than 120 countries. Temenos’ software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ experience in over 600
implementations around the globe. Temenos’ advanced and automated implementation approach, provided by its strong Client Services organisation, ensures efficient and low-risk core banking platform migrations. Temenos is top of the IBS Sales League Table 2009, winner every year since its launch of the Best Core Banking Product in Banking Technology magazine’s Readers’ Choice Awards and ranks 26th in the American Banker top 100 FinTech
companies. Temenos customers are proven to be more profitable than their peers: data from The Banker – top 1000 banks shows that Temenos’ customers enjoy a 54% higher return on assets, a 62% higher return on capital and a cost/income ratio that is 7.2 points lower than non-Temenos customers.