Temenos retains position as a “Global Power Seller” and a “Top Global Player” following outstanding FY 2016
- A 'Global Power Seller' for new business deals for 11 consecutive years, with 71 new deals in 2016
- A 'Top Global Player' for 5 consecutive years , signing 173 deals with new and existing customers
- Report results reflect global market appetite for end to end digital banking
Geneva, Switzerland – 3rd April 2017
Temenos (SIX: TEMN), the software specialist for banking and finance, has again been named both a "Global Power Seller" and a "Top Global Player" by Forrester Research Inc., according to the results of their Global Banking Platforms Deals Survey 2017.
This recognition follows a reported outstanding FY 2016, when Temenos signed 71 new deals, and 173 deals to both new and existing customers, across five regions of the world.
While presenting the results of the survey in a March 2017 Forrester webinar entitled Global Banking Platform Deals Survey 2017, Vice President and Principal Analyst at Forrester Research Inc., Jost Hoppermann, notes: "Our data in the Banking Platform Deals Survey 2017 indicates that a shift [towards true end to end digital banking rather than a focus on front end channels] is starting to happen. The proportion of elements [bought] covering core banking, deposits, lending, payments engines, etc. rose by 12% ...The good news is definitely that banks that sign these deals to acquire these capabilities are well positioned to deliver seamless, customer facing processes in the future."
The Global Banking Platform Deals Survey 2017, an independent survey conducted annually, assesses both the volume and the geographical spread of banking platform sales to new and existing customers. In order to be named a "Global Power Seller", vendors must record more than 35 new name deals across more than five regions of the world. To be named a "Top Global Player", Forrester examines deals to new and existing customers; to qualify vendors must evidence at least 75 customer sales in a minimum of five regions.
David Arnott, CEO of Temenos, commented: "The IT transformation deals we signed in 2016 with banks such as Commerce Bank in the US, Canada's Laurentian Bank, Bank of Ireland, Banque Internationale à Luxembourg and Standard Chartered Bank, reflect the shift towards seamless, end to end digital banking. I believe that these deals, and the findings of the Global Banking Platforms Deals Survey 2017, demonstrate that Temenos' market leading digital banking proposition resonates with financial institutions of all sizes around the globe, and in particular with Tier 1 and 2 banks. Our clients are under intense pressure to renovate their IT to deliver back office automation, along with a differentiated front end, and they recognise that our complete front to back digital solutions are the market benchmark for customer-centric digital banking worldwide."