Temenos Application Management Services achieves Level 3 CMMI from the Software Engineering Institute
14 March 2008
GENEVA, Switzerland, 14 March 2008 - TEMENOS Group (SWX: TEMN), the provider of integrated core banking systems, today announced that its Temenos Application Management (TAM) team has been assessed to be compliant with Level 3 of the ‘Capability Maturity Model® Integration’ (CMMI) practises, as awarded by the Software Engineering Institute (SEI).
CMMI is a formally recognised process improvement approach that provides organisations with the essential elements of effective development management processes. It can be used to guide process improvement across a project, a division, or an entire organisation. CMMI helps integrate traditionally separate organisational functions and set process improvement goals and priorities. This globally-recognised best practice approach provides guidance for quality processes and a point of reference for appraising current methods.
The CMMI programme was formally kicked off at Temenos in April 2007 and was completed in just 11 months, one of the shortest periods that a company has ever taken to achieve the assessment. While completing the CMMI appraisal process, TAM also successfully completed implementation projects for 36 different banks globally during 2007.
Andreas Andreades, CEO of Temenos, said: “This is a significant milestone on our journey to achieving best-in-class services delivery alongside our already recognised product superiority. After a gruelling assessment period, our external assessors from KPMG found the processes within the TAM team to be fully compliant with Level 3 of the CMMI practices, the foremost assessment for software development. At Temenos we are repeatedly demonstrating our commitment to process improvement and certification across our supply chain.”
TAM operates in offshore locations and offers a cost-effective, lower risk option for the development and ongoing management of client specific software developments around Temenos T24 (T24), including release upgrades and performance testing. TAM ensures that developments can be implemented and maintained in a disciplined environment, complete with detailed technical specifications and full documentation. Temenos’ rigorous development process ensures that software can be produced without scope creep, more quickly and reliably than through an iterative prototyping on-site, while at the same time remaining fully upgradeable to future T24 releases.
TEMENOS T24 is a functionally rich, scalable, and proven integrated banking system. It is delivered as a pre-configured Model Bank solution that incorporates industry best-practice, enabling fast and predictable implementations and immediate, measurable benefits. Temenos’ Model Bank approach allows a fast ROI and a highly flexible and responsive approach to banking ensuring maximum business agility based on T24’s flexible features. T24 offers integrated and comprehensive information on the institution at all times including a single customer view, and a single view of the enterprise including risk and profitability.
T24 incorporates modern technology including a comprehensive Service Orientated Architecture (SOA), fully enabled for standard, SOAP web services, BPEL process execution and compliant with industry leading ESBs (Enterprise Service Buses). T24 can be deployed on a fully scalable, multi-server n-tier architecture. It provides a full front-to-back solution from electronic delivery channels such as mobile devices and internet banking right through to settlement, general ledger and other back office functions all in a fully integrated, reliable and cost effective environment. Temenos’ total commitment to open standards enables its customers to benefit from the latest advances in technology ensuring business agility, continuity, data integrity and reduced downtime delivering a significant, immediate and ongoing return on investment.
-ENDS-
About Temenos
Founded in 1993 and listed on the Swiss Stock Exchange (SWX: 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 44 offices worldwide, Temenos serves over 600 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 annually invests around 20% in R&D, significantly more than its peers, into a single fully packaged upgradeable software release, which ensures all Temenos customers benefit from modern technology and support indefinitely. For more information please visit www.temenos.com
For more information, contact:
Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41 (0) 22 708 1157
Email: mchuard@temenos.com
Ben Robinson
Temenos Investor Relations Manager
Tel: +44 (0) 207 290 3012
Email: brobinson@temenos.com
Peter McKenna
Temenos Marketing Director
Tel: +44 (0) 207 423 3842
Email: pmckenna@temenos.com
Evelina Amanatidou
Team 660
Metia for TEMENOS
Tel: +44 (0) 20 3100 3592
Email: evelina@metia.com