5067007NW6550481FH642025-01-012025-12-31iso4217:USD5067007NW6550481FH642024-01-012024-12-31iso4217:USDxbrli:shares5067007NW6550481FH642025-12-315067007NW6550481FH642024-12-315067007NW6550481FH642023-12-315067007NW6550481FH642023-12-31ifrs-full:IssuedCapitalMember5067007NW6550481FH642023-12-31ifrs-full:TreasurySharesMember5067007NW6550481FH642023-12-31temenosag:SharePremiumAndOtherReservesMember5067007NW6550481FH642023-12-31ifrs-full:OtherEquityInterestMember5067007NW6550481FH642023-12-31ifrs-full:RetainedEarningsMember5067007NW6550481FH642024-01-012024-12-31ifrs-full:IssuedCapitalMember5067007NW6550481FH642024-01-012024-12-31ifrs-full:TreasurySharesMember5067007NW6550481FH642024-01-012024-12-31temenosag:SharePremiumAndOtherReservesMember5067007NW6550481FH642024-01-012024-12-31ifrs-full:OtherEquityInterestMember5067007NW6550481FH642024-01-012024-12-31ifrs-full:RetainedEarningsMember5067007NW6550481FH642024-12-31ifrs-full:IssuedCapitalMember5067007NW6550481FH642024-12-31ifrs-full:TreasurySharesMember5067007NW6550481FH642024-12-31temenosag:SharePremiumAndOtherReservesMember5067007NW6550481FH642024-12-31ifrs-full:OtherEquityInterestMember5067007NW6550481FH642024-12-31ifrs-full:RetainedEarningsMember5067007NW6550481FH642025-01-012025-12-31ifrs-full:IssuedCapitalMember5067007NW6550481FH642025-01-012025-12-31ifrs-full:TreasurySharesMember5067007NW6550481FH642025-01-012025-12-31temenosag:SharePremiumAndOtherReservesMember5067007NW6550481FH642025-01-012025-12-31ifrs-full:OtherEquityInterestMember5067007NW6550481FH642025-01-012025-12-31ifrs-full:RetainedEarningsMember5067007NW6550481FH642025-12-31ifrs-full:IssuedCapitalMember5067007NW6550481FH642025-12-31ifrs-full:TreasurySharesMember5067007NW6550481FH642025-12-31temenosag:SharePremiumAndOtherReservesMember5067007NW6550481FH642025-12-31ifrs-full:OtherEquityInterestMember5067007NW6550481FH642025-12-31ifrs-full:RetainedEarningsMemberiso4217:CHFiso4217:CHFxbrli:shares
Annual Report and Accounts 2025
Leading
Banking
Forward
Contents
Overview
1 Highlights
2 Temenos at a glance
Integrated Report
4 Chairman’s statement
6 CEO’s statement
8 Market review
10 Strategy
12 Industry recognition
13 Temenos Value Benchmark
14 Software and products
20 Research and development
21 Our Partner strategy
23 Customer experience
28 Sustainability
126 Financial review
132 Principal risks and uncertainties
Corporate Governance
140 Board of Directors
142 Executive Committee
144 Corporate governance report
157 Compensation report
180 Report on the audit of the
compensation report
Financial Statements
182 Report on the audit of the consolidated
financialstatements
190 Consolidatedstatementofprofitorloss
191 Consolidated statement of other
comprehensiveincome
192 Consolidatedstatementoffinancialposition
193 Consolidatedstatementofcashflows
194 Consolidatedstatementofchangesinequity
195 Notestotheconsolidatedfinancialstatements
246 Reportontheauditofthefinancialstatements
251 Unconsolidated balance sheet
252 Unconsolidated income statement
253 Notes to the unconsolidated financial statements
259 Financial highlights
260 Information for investors
261 Temenos world offices
264 Sources
B
See our website for more information
temenos.com
Who we are
Temenos (SIX: TEMN) is a global leader in banking
technology. Through our market-leading core
banking suite and best-in-class composable
solutions, we are modernizing the banking industry.
Banks of all sizes utilize our adaptable technology
– deployed on-premise, in the cloud, or as SaaS – to
deliver next-generation services and AI-enhanced
experiences that elevate banking for their customers.
Our mission is to create a world where people can
live their best financial lives.
Our culture
Our culture guides the way we work. A culture that
encourages all of us to challenge convention and
committoeverythingwedotomakebankingbetter.
Aculturethatenablesustocollaboratewithour
communityandtrulycareaboutthepeoplewe
serve and the impact of our business.
Together with our customers, Partners and
employees,wewanttocontinuemakingapositive
contributiontotheworldofbankingandsociety.
Note: figures are non-IFRS proforma excluding contribution from Multifonds which was sold in Q2-25. Growth rates are reported.
Our purpose, vision, mission and values
2025
2025
2025
2025
2025
2025
2025
2025
2024
2024
2024
2024
2024
2024
2024
2024
We challenge
We challenge the
statusquo,trytolook
at things differently
anddrivechange.
We commit
We commit with
determination and
persistencetomake
thingshappen.
We collaborate
We collaborate within
Temenos and across a
broader Partner
ecosystem.
We care
We care and listen
toeachother,our
clients,ourPartners
and the communities
weserve.
Our values
Our purpose
Topoweraworldofbanking
that creates opportunities
foreveryone.
Our vision
We power a world where
financial institutions trust
Temenos to make banking
easier and help people live
their best financial lives.
Our mission
To modernize financial
institutions by building on the
most trusted, industry-leading
technology solutions.
Highlights of 2025
Non-IFRS proforma*
Annual Recurring Revenue (USDm)
859.9 +15%
Non-IFRS EBIT (USDm)
371.9 +22%
Free cash flow (USDm)
256.4 +15%
Non-IFRS EBIT margin (%)
34.7 +3%
Maintenance (USDm)
490.3 +14%
Subscription and SaaS revenue (USDm)
452.5 +10%
Non-IFRS earnings per share (USD)
4.20 +25%
Total revenue (USDm)
1,071.1 +11%
Highlights
749.5
859.9
304.8
371.9
223.2
256.4
410.8
452.5
31.6
34.7
431.9
490.3
3.35
4.20
965.2
1,071.1
Overview
1Temenos AG Annual Report and Accounts 2025
Temenos today
Over 950
core banking clients
Over 600
digital clients
Over 90%
of revenue generated by top 1,000 clients across
allproductsin FY-24
150+
countries in which clients arepresent
Business highlights
The Americas Europe Middle East and Africa Asia Pacific
Our global reach
Revenue % by region
25% 28% 26% 21%
Subscription and SaaS revenue % by region
35% 23% 21% 21%
Number ofoffices
10 17 8 14
Temenos at a glance
Overview
2 Temenos AG Annual Report and Accounts 2025
Deployment models to offer clients choice
License revenue: subscription license revenue SaaS revenue
Deployment model
⚫
Larger banks likely to run software
themselves for main business lines
–on‑premise, private or public
cloud
⚫
Banks in some jurisdictions remain
on-premise due to regulatory regime
⚫
Growth in public cloud usage
accelerates Temenos license revenue
Deployment model
⚫
Adopted by banks looking to outsource
infrastructure and operations, including
some largebanks, smaller banks
andnon‑incumbents
Public cloud
Temenos runs software
Bank operations
Temenos SaaS Ops
B
a
n
k
r
u
n
s
s
o
f
t
w
a
r
e
Temenos
software
On-
premise
Hybrid
cloud
Private
cloud
Public
cloud
Subscription and SaaS revenue is FY‑25 proforma, excluding Multifonds, which was sold in Q2‑25. Journey Manager and LMS are front office products.
Product revenue is subscription and SaaS and maintenance revenue.
Temenos today: Broad platform offering, trusted by clients globally
Geography
⚫
Strong presence in Emerging
MarketsandW. Europe
⚫
Established in other Mature Markets:
ANZ, CND
⚫
Increasing US penetration
Banking segments
⚫
Strong in Retail banking and Wealth
Management
⚫
Growing in Corporate banking
Deployment
⚫
Strong across all deployment
models:on‑premise, hybrid,
privateandpublic cloud, SaaS
ClientsPlatform
New logos
⚫
Leader in IBS core
banking sales league
tablefor20years
Installed base
950+
core banking
600+
digital
150+
countries
Key products
⚫
Core banking
⚫
Digital (front office)
⚫
Wealth
⚫
Payments
Adjacent point
solutions
⚫
Journey Manager
⚫
LMS
⚫
FCM
⚫
AI agents
% of product revenue in FY-25
Regions
Americas
c.25%
APAC
c.21%
Europe
c.27%
MEA
c.27%
Products
Core banking
c.81%
Digital
c.11%
3Temenos AG Annual Report and Accounts 2025
Overview
A strong
foundation
2025 was a year
defined by strong
strategic focus and
the early benefits of
a more aligned
leadership team
under Takis.
Thibault de Tersant
Chairman
As I look back on 2025, I am pleased with the performance of
our management team, which demonstrated strong leadership
and commitment to deliver against the first year of our
strategic plan. Our total revenue growth of 10% and EBIT
growth of 21% in constant currencies, despite various
headwinds demonstrated the commitment of our teams and
the relevance of our strategy. Although I recognize that the
change of CEO in the third quarter was unexpected for many of
you, I am confident it was the right course of action, asthe
subsequent quarterly and full year results have shown. Wenow
have a strong and stable executive team in place under the
leadership of Takis Spiliopoulos, who has demonstrated his
ability to drive execution and empower our teams to excel by
working together. We selected Takis after a thorough search of
potential candidates, with some strong options outside of the
Company leading to a robust selection process, a healthy
discussion and a consensus of the Board. It became clear that
Takis was the best candidate for the role, having proved
himself as CFO since 2019 and then having excelled as interim
CEO from September 2025, thanks to his deep knowledge of
Temenos management teams, products and strategy.
Chairman’s statement
Integrated Report
4 Temenos AG Annual Report and Accounts 2025
Based on these results, the Board of Directors is pleased to
propose an annual dividend for 2025 of CHF 1.40 per share,
representing an increase of 8% year on year, to be submitted
for approval at the Annual General Meeting on 13 May 2026.
Our Board composition remains a critical source of strength.
The expertise and diversity of experience represented within
the Board, which cover all relevant domains for Temenos, has
been instrumental in guiding the Company through a period of
change while ensuring continuity in governance, oversight and
long-term vision. I would like to thank all Board members for
their thoughtful contributions during the CEO transition and
throughout the year.
Most importantly, on behalf of the entire Board, I want to
express our gratitude to our shareholders, clients and
employees. The commitment of our people, the trust of our
customers, and the support of our investors have been
essential to our progress in 2025. We enter 2026 with renewed
confidence, a strong leadership team, and a clear strategy that
is already demonstrating its impact.
I am confident that we have the right foundation in place to
capture the significant opportunities ahead and to deliver
long‑term, sustainable value for all our stakeholders.
Thibault de Tersant
Chairman
Shareholder returns
We have reconfirmed the strategic roadmap that was first
announced in the fourth quarter of 2024, and the management
team has done an excellent job of executing against this.
2025 was a year defined by strong strategic focus and the early
benefits of a more aligned leadership team under Takis, which
translated into the stable and predictable performance we
delivered this year.
During the year, we made good progress in advancing the three
growth levers originally set out by the Executive Committee:
strengthening our “best‑of‑suite” leadership, enhancing our
modular and composable core solutions, and accelerating
selected adjacencies where there is strong demand. The Board
is pleased by the consistency with which the management
team has acted on these priorities, and by the improved
coordination and collaboration across product and technology,
Go-To-Market and corporate functions.
Importantly, we continued to operate in a market environment
characterized by both pressure and opportunity. Financial
institutions are navigating evolving regulatory expectations,
heightened demand from their customers, and an accelerated
shift to modern, cloud‑based platforms. These dynamics
reinforce our conviction that Temenos is well positioned to
capitalize on the growing demand for third party banking
software, with a portfolio aligned to the needs of our
customers, and a well‑funded investment plan to deliver
onour growth.
I would like to underline the sustained momentum in ARR
which reflects the Company’s evolution toward a resilient,
recurring revenue model, the strengthening of engagement
wehave seen across our client base and ultimately the quality
of our pipeline.
For the full year 2025 (proforma), Temenos delivered ARR of
USD860million representing 12% growth year on year,
non‑IFRS revenue of USD 1,071 million, non‑IFRS EBIT of
USD372 million, and non‑IFRS EPS of USD 4.20. Free cash flow
came in atUSD 256 million, up 15% versus2024.
Integrated Report
5Temenos AG Annual Report and Accounts 2025
Executing with clarity
andconsistency
Dear shareholders,
2025 was a year of focused and disciplined execution for
Temenos. Stepping into the CEO role, my priority was to ensure
that our strategic ambitions translate into predictable, tangible
outcomes operationally, financially and for our customers. I am
proud of the progress we made this year and of the way our
teams came together with a shared purpose to execute on
ourroadmap.
We have a clear vision as a business: Leading Banking Forward,
helping banks modernize with confidence, scale and flexibility,
so they can best serve their customers, people and communities.
We delivered above‑market growth in the first year of our
strategic plan, continued to take market share, and built a
strong foundation for our future growth and for delivering
onthat vision.
I am proud of the
progress we made
this year and of the
way our teams came
together with a
shared purpose and
vision to execute on
our roadmap.
Takis Spiliopoulos
Chief Executive Officer and interim Chief Financial Officer
CEO’s statement
Integrated Report
6 Temenos AG Annual Report and Accounts 2025
When I stepped into the role of CEO, we reconfirmed the
strategic roadmap that was announced in November 2024,
which was shaped through a comprehensive strategic review
with our Executive Committee and validated by the Board. Our
strategy focuses on three growth levers: strengthening our
best‑of‑suite leadership, advancing our modular core for Tier 1
and Tier 2 banks, and accelerating adjacent point solutions
where we see growing demand. These priorities define how we
invest, execute and measure our progress. Throughout 2025,
our teams executed consistently against these priorities, as
demonstrated by our strong quarterly and full year results.
Strengthening the foundations
forlong‑termgrowth
Temenos operates in a large, stable market with resilient
growth, driven by structural forces that continue to accelerate.
Banks remain under pressure to modernize their technology
platforms while managing rising regulatory complexity, higher
operating costs and intensifying competition from digital-native
players. As a result, buying behavior has continued to shift toward
platforms that offer flexibility, reliability, rapid deployment, and
a clear path to long‑term efficiency gains. In this context, we
have strengthened our focus on value selling, working closely
with our clients to build tangible business cases that demonstrate
the real-world value banks can achieve with our platform.
Institutions are prioritizing investments that reduce complexity,
consolidate vendors, and deliver measurable operational outcomes.
We saw increasing preference for cloud‑based architectures
and modular solutions that allow banks to progress transformation
in manageable steps rather than through large-scale replacements.
This aligns well with our portfolio and with how we have
structured our product and investment roadmap. Banks are
looking for partners which can combine deep functionality
with predictable delivery, and our focus on execution,
transparency and a simplified operating model means
wearewell positioned to meet these expectations.
Delivering stable and predictable performance
2025 was characterized by focused and predictable execution,
in particular over the last three quarters, and this was
reflected in our strong full year results. I was particularly
pleased with our ARR momentum, reflecting the continued
shift toward a recurring revenue model and the relevance of
our portfolio to the needs of financial institutions globally.
Our sales execution was a particular focus, supported by
investments in our go‑to‑market organization, with significant
new sales hiring and investment in sales enablement.
Engagement across our client base increased, and we saw the
quality of our pipeline continue to improve, in particular in the
US which is a key growth market for Temenos. These are
critical leading indicators of sustained growth, and they reflect
the hard work of our product and sales teams.
Driving innovation through disciplined execution
of our strategic roadmap
Across the Company we emphasized alignment, simplicity
andaccountability. The collaboration between product and
technology, go‑to‑market and corporate functions improved
significantly, enabling us to progress faster and with
greatercohesion.
We continued to make significant investments in our product
organization and roadmap to deliver innovation for our clients.
This included launching our first AI agents which we co-developed
with clients, leveraging our combination of deep domain
expertise and customer trust to build credible use cases that
bring material benefits to our clients. We have a structural
advantage in the AI era which we are capitalizing on to further
extend our market leadership.
We also focused on modernizing our operating model,
investingin process improvement, systems automation and
data-driven decision making. These changes are essential to
sustaining growth while creating an organization that is lean,
agile and accountable.
A unified leadership team
This was also a year of transition, and I would like to thank
ourBoard for their trust and support, particularly through
theleadership changes in the third quarter. I am proud of
theexecutive team we now have in place which is highly
experienced, aligned and focused on operational excellence.
Our leadership team is committed to continuing to
strengthenTemenos’ culture of execution, accountability
andcustomer‑centricity.
Our focus on people and culture
Our success is powered by our people. A people-first culture
built on collaboration, empowerment, accountability and
trustremains central to how we lead and how we operate.
Weinvested time in engaging with our people, through small
group conversations, feedback sessions and our employee
engagement survey, because meaningful progress starts with
open dialogue. We continued to recognize and celebrate the
teams and individuals who exemplify our values, and we
focused on strengthening cross‑team collaboration, ensuring
decisions are joined up and aligned to what is best for Temenos.
I believe that when our people have clarity, autonomy and the
right support, they deliver exceptional outcomes for our clients
and for each other.
Looking ahead
We started 2026 with a strong foundation for success. Our strategy
is clear, the organization is aligned, and we are already benefiting
from the investments we made in 2025. The opportunity ahead
is significant. We will continue to execute with discipline, invest
where it matters most, and stay focused on delivering long‑term
value for our shareholders, customers and employees.
Finally, I want to thank our people. Their resilience, commitment
and belief in our direction have been instrumental to our
progress. I am grateful for their dedication, and I am proud
tolead this organization forward.
Takis Spiliopoulos
Chief Executive Officer and interim Chief Financial Officer
Underpinning our strategy are our
strong culture and leadership, delivered
through our business enablers and
supported by ourculture andleadership
Alignment and
collaboration
Clarity of
direction
Transparency
Accountability
Integrated Report
7Temenos AG Annual Report and Accounts 2025
Structural trends drive growing demand for third party banking software
Trends in
banking
Cost optimization Digital experiences
and threat from
non-incumbents
Evolving security
and regulatory
landscape
Rise of hyperscalers,
Gen AI and modular
architecture
Demands on bank
tech providers
⚫
Highly automated and
streamlined banking
processes
⚫
Best-of-suite turnkey
solutions and simpler
tech estate
⚫
Cost‑effective SaaS
solutions powered by
low-code no-code
⚫
Best-in-class digital
front-ends backed
byscalable and agile
modern core
⚫
Seamless, personalized,
omnichannel offerings
at par with fintechs and
payment disruptors
⚫
Real-time data
processing and
analytics,
drivinginsights
⚫
Development of out
ofthe box tools to
address a complex
regulatory landscape
⚫
Security and fraud
detection covering
digital vulnerabilities
⚫
Data solutions for ESG
and sustainability
reporting
⚫
Cloud-native
solutions;multiple
cloud service providers
⚫
AI/Gen AI embedded in
key use cases across
core solutions
⚫
Composability to offer
choice and incremental
transformations
LTM
developments
Slightly upward
⚫
Legacy modernization
⚫
Digitization of products
⚫
Straight through
processing
Stable
⚫
Digital account opening
⚫
Payments innovation
⚫
Hyper‑personalization
Elevated
⚫
Cyber threats
⚫
Fraud management
⚫
Regulatory changes
Elevated
⚫
Acceleration of AI but
high adoption threshold
⚫
Public Cloud transition
⚫
Composable core
offerings
We serve a large
andgrowing market
Market growth remains attractive at 7% CAGR from FY-25 to FY-28
c.USD 23bn
c.USD 16bn
Mostly best of suite
Tier 3–5
1
c.USD 9bn
Mostly composable core,
bestofbreedsolutions
Tier 1–2
+12%
Temenos product revenue
c.USD 25bn
+7%
CAGR 7%
+USD 2bn
Outsourcing of
in-house spend
+USD 3bn
Upsell/cross-sell, volume growth
anddeploymentmodelshift
c.USD 30bn
Serviceable Addressable Market relates to banking third party software spend addressable by Temenos products.
Represents product revenue and includes spend on subscription, SaaS, term license and maintenance, excludes
contribution from Multifonds which was sold in Q2-25. 1) Includes Tier 3–5 and non-incumbents.
Market review
Serviceable Addressable Market
Total F Y-24 Total F Y-25 Total F Y-28
Integrated Report
8 Temenos AG Annual Report and Accounts 2025
Delivering on our US growth ambitions
Strong growth in demand for public cloud and SaaS
On-premise Public cloud SaaS
FY-25 SAM
USD 16bn USD 3bn USD 6bn
CAGR to FY-28
4% 15% 11%
Mix shift
FY-25–F Y-28
65% -> 59% 12% -> 15% 23% -> 26%
Serviceable Addressable Market
Building lighthouse references; large multi-regional bank going live in H2-26
FY-25 progress FY-26 deliverables
Extend US product capabilities
for market-leading solutions
Product and
technology
investment
Opened Orlando
innovation hub,
executed on US-
specific product
roadmap
Convert pipeline with first
deals expected H1-26, expand
GTM partnerships
Go To Market
investment
US sales headcount
increased to 20+
experienced hires
Build out US strategic
Partnercapacity
Customer
Experience
Strengthened
on-shore and near-
shore support for US
clients
Integrated Report
9Temenos AG Annual Report and Accounts 2025
Our growth strategy
Delivering our raised FY-28 targets through strategic levers and enablers
Strategy
Strategic Growth Levers Business Enablers
Culture and leadership
FY-28 Targets
1
2
3
4
A
Extend market
leadership in best
of suite
Product and
technologyinvestment
B
Enhance composable
core solutions
Go To Market
C
Accelerate adjacent
point solutions
Customer lifecycle
Operating model
ARR
FY-28E
>USD 1.23bn
increased from >USD 1.2bn
EBIT
FY-28E
c.USD 480m
increased from c.USD 450m
FCF
FY-28E
c.USD 410m
increased from c.USD 400m
Note: ARR and EBIT are constant currency. FCF is reported.
Integrated Report
10 Temenos AG Annual Report and Accounts 2025
Focused and impactful execution in the first 12 months
Strategic investments...
...delivering strong results
Product:
Reorganizationoffunctionsintoagile
teams, hiring of senior talent
Product:
Delivered on FY-25 platform and product
roadmap. Launch of multiple
differentiated new products
GTM*:
Increased IQC* headcount by 60% to
more than 140 globally, invested in sales
operations and enablement
GTM:
Strong pipeline growth in key target
geographies, significant number of new
logo wins
US expansion:
Focused US sales hiring, opened
innovation hub with 70+ developers; sales
headcount increased to over 20
US momentum:
Strong US pipeline growth in target
accounts, product co-innovation with
clients
A well-defined AI strategy to capitalize on our structural advantage
150
Global reach in over
150markets
950+
950+ core banking clients
and600+ digital clients
Trusted domain
expertise
Volume-based
pricing aligned to
banks’ growth
Temenos has the unique combination of customer trust and domain expertise
* GTM = Go To Market; IQC = Individual Quota Carrier.
Build on our
structural
advantage
Market share gains: above market product revenue growth in first year of our strategic plan
Lower TCO
⚫
Conversational interfaces:
launched Temenos Copilot
for Core
⚫
AI Agents: Launched FCM
AI agent for sanctions
screening with more
coming in Core, Payments,
Digital and Wealth
⚫
AI in Core: AI to drive
efficiencies and enable
faster implementations and
upgrades
⚫
AI in Digital: changing how
digital experiences are built
using AI
Faster delivery
⚫
Leveraging AI in our
software development
lifecycle
⚫
Support customers with
AI including the launch of
Gen AI assistant
AI first mindset
⚫
Rolled out M365 AI tooling
across all functions
⚫
Established AI champions
network to source
productivity use cases
Product
Process
People
Integrated Report
11Temenos AG Annual Report and Accounts 2025
A “Market Leader”
anda “Visionary”
Industry recognition
B Find sources on page 264
Core banking
and payments
Recognized as a
VisionaryintheGartner
®
“MagicQuadrantforRetail
Core Banking Systems,
Europe 2025”
1
Recognized as a Leader in
IDC’s MarketScape
forNorthAmerica
DigitalCoreBanking
Platforms
VendorAssessment2024
4
Ranked as the #1 best-selling
Core Banking Systemforthe
20th time in the IBS
SalesLeagueTable2025and
consistentlyinthetoptwofor
the past 24 years
3
Recognized as a Leader in
theForresterWaveforDigital
Banking Processing
Platforms, Q4-24
2
Recognized as a Leader in IDC’s
MarketScapeforEMEADigital
CoreBankingPlatformsVendor
Assessment 2024
4
Recognized as a Leader in IDC’s
MarketScapeforAPACDigital
CoreBankingPlatformsVendor
Assessment 2024
4
Digital banking
Recognized as a Leader in
IDC’s MarketScape for North
America Retail Digital
Banking Solutions 2025–
2026 Vendor Assessment
4
Ranked as the
#1best‑selling Digital
Banking &Channels System
intheIBSiSalesLeague
Table 2025
3
Client recognition: Temenos’
client Credito Emiliano
(Credem) named Overall
Winner and won in the Bank
Deposit Transformation
category in IDC’s
FinTechRealResults2025
4
Wealth
management
Recognized as a Leader in
IDC’s MarketScape for
Worldwide Wealth
Management Technology
Services for Investment
Advisors 2025 Vendor
Assessment
4
Ranked as the #1 best-
selling Private Banking &
Wealth Management in the
IBSi Sales League Table
2025
3
Recognized as a Leader in
the Forrester Wave for
Digital Wealth Management
Platforms, Q1-24
2
Lending, Islamic
banking and more
#1 for Islamic Banking across
multiple sub-categories –
Islamic Universal Core
Banking, Islamic Treasury &
Risk Management System,
Islamic Retail Payments
System, Islamic Digital
Banking Channels and
IslamicWholesaleTreasury–
intheIBSSalesLeagueTable
2025
3
Featured in CNBC’s World’s
TopFintechCompanies
Featured in TIME’s World’s
MostSustainableCompanies
Integrated Report
12 Temenos AG Annual Report and Accounts 2025
Unlocking business value
fromIT investment
Only 24% of banks explicitly connect their growth strategies to
key performance indicators (KPIs) (source: PwC). The Temenos
Value Benchmark (TVB) is a strategic advisory program offered
to our clients and prospects to help them connect their
business and IT strategy with tangible KPIs and business
recommendations, as well as optimize the tangible business
value created by their investment in IT. By leveraging our 30
years of banking domain experience and our banking client
base across more than 150 countries, we are able to provide
our clients with data-driven insights into business value
creation using a proven value-based methodology.
Participants in the program receive a customized confidential
report comparing their business performance with anonymized
peer group data from other participants, including executive
level findings with business and IT insights structured along the
banking value chain. They also have access to a team of experts,
leveraging Temenos’ unique expertise in banking software.
Over 200 quantitative metrics, as well as qualitative best
practices, are collected from each participant to enable us
toprovide correlations and insights to explain banking
performance. The program provides a view on high-performing
banks and their adoption of best practices, both globally and
regionally. It enables banks to identify opportunities for
operational improvements in their business in order to derive
even more value from their IT investment, by further leveraging
Temenos as not just a software provider but as a trusted
partner, committed to our clients’ success.
Today, we have 190 banks as part of our community across
76countries and three verticals (Retail & Business, Corporate
&Commercial and Wealth Management), we have collected
over 90,000 data points and we have met more than 1,600
senior business and IT executives as part of this initiative.
74%
faster
onboarding
1
94%
higher
customers/FTEs
2
29%
higher NPS
3
18%
more IT spend
ongrowth and
innovation
3
Source: Temenos Value Benchmark 2025, sample from 100+ banks.
1 Banks with Temenos Digital Banking. 2 Banks with Temenos Core Banking. 3 Banks running Temenos front-to-back.
Delivering tangible business value through our platform
Win on customer experience
Hyper‑personalization powered by
open banking and Explainable AI.
Scale without limits
Improved cost-to-income ratio
withunlimited scale and services
delivered at a fraction of the cost
oflegacy systems.
34%
faster
time to market
3
36%
higher
cross-sellrate
1
Agility to grow
Faster innovation with cloud‑native,
API-first banking capabilities and a
plug-and-play fintech ecosystem.
IT
Reporting and analytics
Product
management
Sales and
relationship
management
Payments and
settlement
Embedded
finance
Operations
and execution
Risk and
compliance
Temenos Value Benchmark
Integrated Report
13Temenos AG Annual Report and Accounts 2025
Software and products
The Temenos
Banking Platform
Our products
The Temenos Banking Platform is the foundation for all Temenos products serving
allbankingsegments.Itprovidesthebasisforacontinuouslyupdatedarchitecture
enabling customers to benefit from the most recent software and to extend solutions
safely, without impacting operations. New technology is also continuously introduced
to keep banks at the leading edge of banking innovation, including AI infused across
allareas,analyticsandafullAPIarchitecturetoensurequickintegration.
The Temenos Banking Platform
B Visit the link to learn more:
temenos.com/innovation/platform
Point solutions
Onboarding
Onboarding is the first step for
some of your customers’ most
important life moments; make it
memorable by delivering an
outstanding digital experience.
B temenos.com/segments/retail-and-
business
Temenos has a long history of
success supporting loan and
account origination in North America
for banks and credit unions up to
USD 50 billion in assets. These
proven solutions are now integrated
into Temenos Digital Banking.
Origination
B temenos.com/segments/corporate-and-
commercial
Collections
Reducedelinquency,increase
efficiency, and boost collections
efforts all while creating a better
experience for borrowers and
lenders.
B temenos.com/products/wealth-
management
A single product family for fast
compliance, protection and time to
value.
FCM
B temenos.com/products/islamic-
banking
Digital Banking
Streamline operations and enhance client value
with Temenos Digital. Create memorable,
personalized customer experiences and power
high-performance transactional capabilities and
efficient processes, to optimize your business
performance.
B
Visit the link to learn more:
temenos.com/products/digital-banking
Payments
Drive payments business growth with secure,
real-time processing and accelerated product
innovation. Our scalable solution helps you boost
processing efficiency, elevate customer experiences,
and ensure compliance in an evolving market.
B
Visit the link to learn more:
temenos.com/products/payments
Core Banking
With capabilities across all segments, Temenos
Core has proven functionality designed to save
timeand costs as well as foster deeper client
relationships. Over 950 banks around the world
relyon Temenos Core.
B
Visit the link to learn more:
temenos.com/products/core-banking
Integrated Report
14 Temenos AG Annual Report and Accounts 2025
Our best-of-suite solutions across banking segments
Comprehensive, end‑to‑end banking platforms centered onamodern core banking system and extended
through pre‑integrated shared services. These solutions are designed to support the full breadth of a bank’s
business across retail, corporate, commercial, wealth and Islamic segments.
Retail and SME
Combining innovation and personalization, banks can
create solutions that address the unique challenges and
goals of both individual consumers and business clients.
B
Visit the link to learn more:
temenos.com/segments/retail-and-business
Wealth
An end-to-end solution made of best-of-breed
standalone components that deliver an integrated,
omnichannel solution to wealth managers and
privatebankers.
B
Visit the link to learn more:
temenos.com/products/wealth-management
Corporate and Commercial
Designed for banks serving large and multinational
enterprises, our platform simplifies operations,
automates processes, and supports faster decision
making with real-time services tailored to corporate
andcommercial banking.
B
Visit the link to learn more:
temenos.com/segments/corporate-and-commercial/
Islamic
Award‑winning omnichannel solution, delivering an
outstanding Shari’ah compliant experience to Islamic
banking customers.
B
Visit the link to learn more:
temenos.com/products/islamic-banking
Integrated Report
15Temenos AG Annual Report and Accounts 2025
Our products continued
Our composable core capabilities
Temenos’ composable core capabilities enable banks to
modernize progressively – targeting specific domains such as
deposits, lending, pricing or limits – without the risk, cost or
disruption of a full core replacement. This approach allows
financial institutions to evolve attheir own pace, modernizing
incrementally while continuing to operate their existing core
environments.
Built as independently deployable, scalable and cloud‑ready
modules, Temenos’ composable architecture supports
progressive modernization for our customers. Banks can
introduce new capabilities alongside legacy systems, deploy
enhancements faster with lower implementation risk, and
scale efficiently based on customers’ needs. This flexibility
enables faster innovation cycles, improved resilience, and
materially lower operating and upgrade costs over time.
By extracting key core banking capabilities into composable
components, Temenos allows institutions toaddress specific
business challenges – such as launching new products,
improving pricing agility, or enhancing credit and limits
management – without undertaking a multi-year replacement
program. As modernization progresses, these modules can be
composed into a fully modernized core, delivering long‑term
architectural simplification, reduced total cost of ownership,
and sustained innovation.
The value of Temenos’ composable Core
Independently deployable
Each module can be implemented,
upgraded and scaled independently.
Cloud ready
Lightweight, fast to deploy, minimal
operational footprint and built to scale.
Optimized
Slim databases, reduced Java footprint
and business focused APIs and events
with strong documentation.
Progressive
Step-by-step modernization without
abig‑bang replacement, preserving
business continuity during transition.
Lower cost of ownership
Smaller run time footprint, independent
upgrades, and more efficient scaling,
delivering materially lower run costs
compared to equivalent monolithic
functionality.
Software and products continued
Integrated Report
16 Temenos AG Annual Report and Accounts 2025
Our technology
A cloud-native and cloud-agnostic approach
forreal-time, non-stop banking
Temenos provides banks with an architecture designed
tosupport digital transformation andprovide the flexible
experiences demanded by today’s digital customers.
Elastic scalability eliminates the need to provision peak
processing volumes so that banks only pay for actual usage,
yielding significant cost savings. Temenos’ cloud‑agnostic
approach enables the highest levels of long-term resilience
and redundancy without creating a dependency on a single
cloud service provider. This is a key Temenos strategy and
an answer to regulatory concerns.
Cloud native
Designed for the digital banking age, our software allows
faster updates, lower provisioning, lower infrastructure
costs, elastic scaling, active‑active resilience and security.
This is built using API‑first and DevOps principles and
engineered to deploy both serverless and in containers
andmicroservices.
Cloud agnostic
We are the only banking platform readily available on
allmain commercial cloud platforms. With Temenos,
institutions can also deliver on‑premise, or adopt
hybridcloud deployment patterns, all using the same
underlying software.
Our technology innovations are the foundation upon which we offer
our comprehensive suite of solutions, powered by cloud-native
technology, extensibility, upgradability, SaaS and AI capabilities to
drive digital transformation. This is firmly supported by market-leading
R&D into our single code base that is accessible to all our clients.
Temenos has delivered market-leading and functionally
richSaaS and cloud banking solutions to clients in all
geographies and banking sectors since 2011.
We enable banks and financial services providers to adopt
an extremely agile approach to innovation, moving to
prototyping and into production quickly and easily – safe
inthe knowledge that the solutions are priced elastically
and can continue to be developed upon with real-world
feedback. This makes innovation fast and continuous,
further supported by continuous delivery, integration,
andupdates which ensure that the latest capabilities
andservices are automatically delivered to customers
onanongoing basis.
CI/CD
Strong DevOps practices enable high‑impact changes
tobemade frequently and predictably with minimal toil.
They enable continuous updates, continuous integration
anddelivery, and unmatched resilience that comes with
release validation tests provided with every capability
deployed and updated on the platform.
Continuous updates are a core tenet of cloud utilization.
DevOps teams delivering on continuous integration can
expedite project delivery timelines through self-service
andself‑management environments and tools, controlling
the pace with which development plans progress, from
configuration to full testing.
Embedded DevOps provides banks with the ability to
manage, configure and assemble Temenos software –
either fully deployed and supported by Temenos SaaS or
utilizing their own cloud infrastructure.
Service excellence
In 2025, the SaaS functions reimagined the service model
for the next phase of scalability and growth to provide
aglobal coverage through a “follow‑the‑sun” approach,
ensuring clients have direct access to regional SaaS support.
In addition, by extending core solutions across multiple
cloud hyperscalers, Temenos SaaS can be supported in
48hosting locations across Microsoft Azure and AWS.
Building on previous Temenos SaaS Foundation
investments, additional automation and optimizations
nowenable environment onboarding within hours in 2025,
accelerating time to value for clients. With the launch of
new service packages, including Audit Support Services,
Extended Support Services and the SaaS Insight Service,
banks can benefit from an improved customer experience.
Temenos SaaS
Cloud
B
Visit the link to learn more:
temenos.com/innovation/cloud
B
Visit the link to learn more:
temenos.com/innovation/saas
Integrated Report
17Temenos AG Annual Report and Accounts 2025