GENEVA, Switzerland – 27 September 2010 - Temenos (SIX: TEMN), the global provider of banking software, today announced that it has again been positioned by Gartner, Inc. in the Leaders Quadrant in the International Retail Core Banking Magic Quadrant report.
Gartner Inc. positioned vendors based on ability to execute and completeness of vision. Evaluation criteria included product/service capability, customer experience, market understanding and industry strategy.
Gartner Inc. positioned vendors based on ability to execute and completeness of vision. Evaluation criteria included product/service capability, customer experience, market understanding and industry strategy.
Temenos believes its position within the Leaders Quadrant can be attributed to a number of key initiatives. Firstly, product development has played an important role in Temenos‟ market position. The company has continued to extend its portfolio to include business intelligence, mobile banking, biometrics, payments repair and anti money laundering technologies. It has also been strongly focused on the componentisation of T24 to help banks towards a service orientated architecture (SOA) and has an active involvement in the Banking Industry Architecture Network (BIAN).
Another key initiative is the company‟s global partner programme to extend its services capacity, having announced strategic partnerships with Cognizant, Deloitte and Cap Gemini over the last 16 months.
Temenos also forged an alliance with Microsoft last year, designed to meet the core banking demands of large scale retail banks to run T24 on Microsoft SQL. Temenos recently completed a high water benchmark with Microsoft, which yielded industry leading results and demonstrated the mass scalability and low total cost of ownership gains that T24 can deliver to large scale retail banking operations.
Don Free, Principal Research Analyst, Gartner comments in the report: “As the banking industry strives to dig out from the past year‟s economic storm, the consensus strategy among many banks is a return to growth.‟ Moreover, „Banks are increasingly dependent on IT to drive business growth, and the corresponding uptick in demand for core banking revitalisation is undeniable‟.
Andreas Andreades, CEO, TEMENOS, concludes: 'We are delighted to be adding this analyst accolade to our widespread industry recognition this year-. We believe our position in this report, coupled with our unparalleled levels of R&D investment and the effectiveness of our partner programme, reinforces our vision and commitment to meeting the operational needs of the global retail banking sector. In T24, we offer a truly packaged platform with more built in functionality than any other solution in the market today. We are 100 % committed to enriching T24 even further as we make headway with more exciting initiatives that will offer banks true longevity to address long term industry change and optimise customer service and cost structures with cutting edge performance.'
Gartner “Magic Quadrant for International Retail Core Banking” by D. Free. September 13, 2010.
About Gartner’s Magic Quadrant
The Magic Quadrant is copyrighted 2010 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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 56 offices worldwide, Temenos serves over 1000 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.
Temenos also forged an alliance with Microsoft last year, designed to meet the core banking demands of large scale retail banks to run T24 on Microsoft SQL. Temenos recently completed a high water benchmark with Microsoft, which yielded industry leading results and demonstrated the mass scalability and low total cost of ownership gains that T24 can deliver to large scale retail banking operations.
Don Free, Principal Research Analyst, Gartner comments in the report: “As the banking industry strives to dig out from the past year‟s economic storm, the consensus strategy among many banks is a return to growth.‟ Moreover, „Banks are increasingly dependent on IT to drive business growth, and the corresponding uptick in demand for core banking revitalisation is undeniable‟.
Andreas Andreades, CEO, TEMENOS, concludes: 'We are delighted to be adding this analyst accolade to our widespread industry recognition this year-. We believe our position in this report, coupled with our unparalleled levels of R&D investment and the effectiveness of our partner programme, reinforces our vision and commitment to meeting the operational needs of the global retail banking sector. In T24, we offer a truly packaged platform with more built in functionality than any other solution in the market today. We are 100 % committed to enriching T24 even further as we make headway with more exciting initiatives that will offer banks true longevity to address long term industry change and optimise customer service and cost structures with cutting edge performance.'
Gartner “Magic Quadrant for International Retail Core Banking” by D. Free. September 13, 2010.
About Gartner’s Magic Quadrant
The Magic Quadrant is copyrighted 2010 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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 56 offices worldwide, Temenos serves over 1000 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.