Industry Analyst firm names Temenos a Leader in Core Banking – a key strategic market
TEMENOS T24 maintains position as a ‘Leader’ in Magic Quadrant for International Retail Core Banking
GENEVA, Switzerland – 15 October 2012 – Temenos AG (SIX: TEMN), the market leading provider of banking software, today announces that it has been positioned by Gartner, Inc. in the ‘Leaders’ quadrant in the International Retail Core Banking (IRCB) Magic Quadrant* report.
Don Free, research director at Gartner and author of the IRCB Magic Quadrant, comments in the report:
International retail core banking is a top 2012 strategic technology, and CIOs know their core systems are an obstacle to growth, customer attraction and retention, and reducing enterprise costs.
Gaining access to customer information – a highly differentiating value for the business, but a significant challenge with product-centric core solutions – is definitely a driver for adopting open-architected core banking systems that are more easily integrated.
Mark Winterburn, group product director, Temenos, comments,
It is great once again to be judged a leader in our industry and to receive recognition for our continued investment in product, customer service and execution. Focused only on financial services, our business model is built around out-investing the competition in R&D - both on T24 and our other industry leading products - and recycling this development effort into packaged, regular, and easily upgradeable releases. In addition, our open technology gives our customers choice over the infrastructure they run, and our partner programme gives customers access to a large pool of certified resources and a broad range of complementary products and features. This model allows us to deliver incredibly broad banking functionality on cutting-edge technology which, in turn, allows our customers to outperform their peers. With T24 R12, in addition to significant functional enhancements in areas like operational intelligence, we introduced the integration framework, affording codeless integration with other applications and so reducing implementation effort by up to 80%.