Temenos US - expanding presence and entering Saas banking market
Why has Temenos acquired TriNovus?
On 21 March 2013, Temenos entered into a definitive agreement to acquire TriNvous. TriNovus is a US provider of compliance and core banking services on a Software-as-a-Service (SaaS) basis.
The acquisition transforms Temenos’ US business. Overnight, Temenos adds 800 financial institutions to its US customer base. It adds TriNovus’ market-leading compliance applications to its portfolio of solutions for US customers. It adds a series of ancillary processing solutions, such as statement rendering and check processing, which will enhance its own core banking proposition. And, it adds a highly experienced team of professionals led by David Brasfield, who has been working in the US financial technology market for over 25 years.
The acquisition also gives Temenos the expertise and platform to launch a real-time, 24x7 SaaS offering based on Temenos T24, the world’s most widely used core banking solution.
Read the acquisition press release
Temenos in North America
Temenos first entered the North American market in 1997, opening an office in New York City. Since that time, its operations have grown considerably. Temenos North America, now headquartered in Lake Mary, Florida, comprises eight offices and 235 employees, serving over 60 financial institutions and generating USD 50m in annual revenues.
TriNovus, headquartered in Birmingham, Alabama, is primarily focused on providing SaaS compliance solutions and core data processing to community financial institutions. In addition, the company also provides technology addressing social media monitoring, stress testing, vendor management, distressed assets, fraud, security and more.
For more information about TriNovus, a Temenos company, please visit www.trinovus.com.
Temenos for Core Banking
Temenos is the market-leading provider of core banking software. Its Temenos T24 system has been the best-selling core banking application for four of the last five years and commands an 18% share of on-premise sales (source: IBS Publishing). It has more than 600 live customers across the world and more than 320m customers rely on it every day for their banking needs. In the US, customers include EverBank Financial Corp and Credit Agricole Miami.
Temenos core banking customers are more profitable than their peers. In the period 2008-2010, Temenos customers enjoyed on average a 30% higher return on assets, a 46% higher return on capital and an 8.5 percentage point lower cost/income ratio than banks running legacy applications.
Learn more about Temenos for Core Banking.
Temenos for Wealth Management
Temenos is also the market leader for private wealth management software. Following the acquisition of Odyssey Group in 2010, Temenos boasts the broadest set of front-to-back applications in the marketplace. Temenos’ award-winning Private Wealth Management solutions are used by more than 160 financial institutions worldwide, making its customer base approximately 15% larger than the #2 vendor.
Temenos’ wealth customers are confident in the proactive monitoring and alerting tools which ensure suitable investments are offered to their customers across a wide range of servicing models (brokerage, advisory, managed accounts, trust, etc.). Powerful relationship mapping capabilities also allow advisors to establish stickier relationships with their customers to increase wallet-share and optimize wealth transfers. US Private Wealth customers include Credit Suisse, First Hawaiian Bank and Banco Itau Miami.
Learn more about Temenos solutions for Wealth Management.
Temenos for Business Analytics, Anti-Money Laundering and Channels and more
Temenos also offers a suite of best-of-breed products around Anti-Money Laundering (AML), Business Intelligence Analytics (including profitability, practice management and stress testing),and Channels with solutions that can be deployed on top of Temenos or legacy applications to deliver an optimized customer experience.It also provides highly specialized products such as STeP, its automated SWIFT repair solution. US customers of these products include Barclays and BNY Mellon.