Temenos kicks off aggressive growth plan in India
BENGALURU, India – 17th June – Temenos (SIX: TEMN), the market leading provider of mission-critical solutions to the financial services industry, today announces plans to increase headcount across its offices in Bengaluru and Chennai to almost 2500 people in the next three years from the existing 1800 making it the largest product development centre across all Temenos offices around the globe.
The Geneva based company is looking to hire people in key areas such as banking product specialists, architects and engineers. The Indian offices in Bangalore and Chennai have been instrumental in driving product innovation at Temenos over the years, including designing and supporting leading edge banking products such as T24, the award winning core banking platform used by banks in over 150 countries.
"India has always been a key player in Temenos's global growth strategy. The availability of world-class talent, emerging infrastructure and growing global market requirements makes it a favorable market for growth and expansion. Our investments and long term vision towards growing the Indian development centre both in Chennai and Bangalore are a testament to our ongoing commitment to our India n operations,"
said David Arnott, Temenos CEO.
Temenos started its India operations in 1996, was one of the first software companies to invest in a captive product development centre in India, and has been growing steadily since then. The recently announced Multifonds acquisition was another important milestone for Temenos' Indian growth strategy.
“With the Multifonds acquisition, we were able to add 400 employees to our headcount with related domain experience. Multifonds services many leading financial companies in India, which add to Temenos' portfolio of clients. Temenos now provides mission-critical software to 38 of the top 50 banking institutions in the world,”
Said Temenos India Regional Director, S.P. Jayanthan.
In April 2015, for the 10th consecutive year, Forrester Research named Temenos as both a "Global Power Seller" and a "Top Global Player" in its recent report "Global Banking Platform Deals in 2014". This independent survey, conducted annually, assesses both the volume and the geographical spread of banking platform sales to new and existing customers. Forrester defines the banking platform as "a comprehensive, but basically modular, pre-integrated set of banking applications that is designed to cover traditional areas of banking like retail and corporate banking. In particular, it contains a core banking system as well as omni channel functionality." In 2014, Forrester evaluated more than 1,400 deals submitted by 32 vendors to arrive at its rankings for new name and extended business sales.