Temenos re-claims top position in IBS Sales League Table
28 February 2008
GENEVA, Switzerland, 28 February 2008 – Temenos Group (SWX: TEMN), the provider of integrated core banking systems, today announced that IBS Publishing has ranked Temenos T24 (T24) in the top position in its 2007 Sales League Table with 44 wins compared to 41 in 2006. Temenos has been in one of the top two positions in the IBS league table for the last 9 out of 10 years.
Andreas Andreades, CEO, Temenos, says: “This has been another record year for Temenos. We are continuing to extend our lead and our closest competitor has sold less than half the systems we have in 2007. Our products are technologically modern, provide a distinct business advantage through rich functionality, and are extremely flexible and robust. We consistently invest up to 20% of our annual revenues in R&D and provide a fully upgradeable release which ensures that banks can continue to use our products for years to come without losing their advantage and remaining on modern technology.
“At the heart of our success is our product packaging, which is unique in our industry. Unlike most of our competitors we provide a single release of our product to all our clients around the world. Our Model Bank product, a preconfigured version of our software incorporating best practice, minimizes implementation timeframes and lowers risk. Temenos Application Management (TAM) and Management Consulting has enabled us to scale our operation successfully while delivering excellent client results. Most of our clients achieve implementation time frames of less than 12 months.”
Temenos’ success in leading the industry in terms of new clients is also matched by its financial success, as shown yesterday with the reporting of the company’s 2007 financial results. Temenos experienced a 53% growth in revenue year-on-year, with revenues of US$329.9 million, operating profit of US$62.5 million, up 88% on 2006, and cash flow from operation of US$64.8 million up 136% on 2006.
Andreades continues: “With 2007 license revenues of US$148.8 million, up 52% on the previous year, we are in a unique position to continue to invest in our products and continue to win market share.”
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.
Martin Whybrow, editor of International Banking Systems Journal, comments: “Temenos has clearly had another good year. The company has an established, strong product combined with a large and professional sales organisation. There are some strong competitors in the market this year but Temenos is holding its own very well.”
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