Banking Technology names Temenos best core banking system
Temenos T24 leads the charge in helping banks digitally transform
GENEVA, Switzerland – December 14, 2017 – Temenos (SIX: TEMN), the software specialist for banking and finance, today announces that its market-leading T24 Core Banking platform has received the Editor's Choice award by Banking Technology, a leading source of news and analysis of the global fintech sector. The award is a testament to Temenos' strategy to provide packaged, modular, upgradeable and open software, which enables banks to digitally transform their operations.
Tanya Andreasyan, Editor, Banking Technology said:
"Banking Technology's annual awards recognize excellence and innovation in technology within the financial services industry around the world. The Editor's Choice is a new category in the awards. Temenos was selected by a panel of industry experts, as the vendor with the most technologically sound and comprehensive core banking system in the market."
Adrian Hadley, Product Director – Core Banking, Temenos, said:
"Banks are facing significant threats from new competitors, and from consumer adoption of digital services overall. Temenos' technology helps banks foster innovation and combat competitive pressures. We invest 20% of our revenues back into R&D, twice the industry average and more than any of our peers. This ensures that we continue to lead the market with modern and emerging technologies, enabling banks to benefit from real-time operations and lower total cost of ownership. We are honoured to have our hard work recognized with the Editor's Choice Award, and we look forward to continuing to offer the most robust, flexible and innovative technology."
Over 700 banks of all sizes and in all geographies run on Temenos' core banking software, which combines rich functionality with cutting-edge technology in an easily upgradable application. 41 of the top 50 banks rely on Temenos to process the daily transactions of more than 500 million banking customers. In the past three years alone, multiple tier 1 and 2 banks have selected Temenos as their strategic partner for progressively renovating their IT infrastructure, including, Nordea, Bank of Ireland and Santander for its digital banking subsidiary, Openbank.