Temenos Launches Cloud Strategy For The Global Microfinance Community With Microsoft Windows Azure

Named Microsoft’s Financial Services Partner of the Year, Temenos brings modern banking infrastructure to microfinance institutions at a fraction of the cost

LOS ANGELES/GENEVA, Switzerland, 13th July 2011: Today at the Microsoft Worldwide Partner Conference, Temenos (SIX: TEMN), the global provider of banking software, launched a complementary go-to-market model using Microsoft technologies to address affordable access to finance in emerging markets. Temenos was also selected today as the Microsoft Financial Services Partner of the Year at Microsoft’s Worldwide Partner Conference.

This latest development builds on pioneering work between Temenos and Microsoft to offer TEMENOS T24 (T24) on the Windows Azure platform and is marked by the successful implementation of this software offering in a network of six Mexican microfinance institutions (MFIs), which went live in May 2011. This represents the first live instance of core operations being run on the Azure platform.  Temenos also is now offering its cloud computing-based solution in Africa, to be followed by South and Southeast Asia as well as other markets.

“Today, IT virtualization is gaining traction in the microfinance sector as more MFIs recognize the cost efficiencies of running their operations in this way,” said Murray Gardiner, director, Microfinance and Community Banking, Temenos. “The infrastructure investment around cloud technology being made by Microsoft and Temenos leverages the strength of Temenos’ global market position and focuses on achieving a common goal: the transformation of the microfinance sector”.

“We are committed to supporting technology solutions to bring about social change and improve the lives of the underserved worldwide,” said Simon Witts, corporate vice president, Enterprise & Partner Group, Microsoft Corp.  “Meeting this challenge in emerging markets will require turning a latent demand for financial services into an effective demand for real financial products. With the Windows Azure cloud infrastructure, Microsoft and Temenos are engaged in providing these services to microfinance institutions and, together, we are helping to lead the transformation of financial services for the 2 billion people living on less than $2 per day.”

“Today’s announcement marks a major technology milestone in the financial services industry,” said Bob Hunt, senior research director, Retail Banking and Cards Practice, Tower Group.  According to Hunt, “the financial services industry wants to ensure that cloud computing can provide the security, reliability and functionality needed for mission critical processing. Although TowerGroup expects that the banks and vendors will transition critical functions to the cloud on a gradual basis, the journey has clearly begun.”

T24 on the Windows Azure platform enables financial institutions to move operations to a low cost consumption-based pricing model. Banks no longer need to expend time and budget on provisioning and operating hardware resources — running T24 natively on Windows Azure enables them to scale resources effectively and increase volume according to customer demand.

Watch video from Microsoft’s Worldwide Partner Conference (WPC) 2011, to view Guy Dubois, CEO, Temenos discussing the company’s recognition as Microsoft’s Financial Services Partner of the Year. Dubois also discusses Temenos’ launch of its cloud strategy for the global microfinance community with Windows Azure.  In an additional video from WPC, Susan Hauser, vice president, WW Industry and Global Accounts, Microsoft Corp., discusses Temenos’ Windows Azure cloud strategy for the global microfinance community.

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 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 more than 60 offices worldwide, Temenos serves over 1,200 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. For more information please visit www.temenos.com

About Microsoft
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Other Temenos contacts:

Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41 79 310 96 22
Email: mchuard@temenos.com

Petra Shuttlewood
Temenos PR Manager
Tel: +44 (0) 207 423 3751
Email: pshuttlewood@temenos.com

Sarah Bowman
Associate Director, Investor Relations
Tel:  +1 646 472 8069
Mob: +1 646 752 5463
sbowman@temenos.com

Claire Barry 
Hudson Sandler for Temenos 
T +44 (0)20 7710 8940
Email: cbarry@hudsonsandler.com 

Lucy Clark
Hudson Sandler for Temenos
T +44 (0)20 7710 8934
Email: lclark@hudsonsandler.com