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Temenos builds on Leumi success with new Tel Aviv office

Move signals Temenos continued confidence in Israel as a so-called 'second silicon valley' for digital banking

Geneva, Switzerland – 21st February 2017 – Temenos (SIX: TEMN), the software specialist for banking and finance, today announces expansion in Israel with the opening of a new office in Tel Aviv, leveraging the success of the Bank Leumi Israel's digital bank project, Pepper.

The Tel Aviv office marks our long term commitment supporting our customer Bank Leumi and their new digital bank, Pepper, and recognises the market potential for many other banks who wish to renew their core systems and enter the digital banking space. The office will be headed up by Alexa Guenoun, Regional Director, and supported by a local team of experienced consultants.

Alexa Guenoun, Temenos Regional Director, said:

"This a great opportunity for Temenos to be part of a very dynamic and advanced high tech market. Israel is linked by many to Silicon Valley, with organisations such as IBM, Accenture, Google and Microsoft investing in research labs in the country. Many banks are looking at leveraging this environment. Our success with Leumi and Pepper means that we are well placed, and have the experience and technology to seize the advantage in this market."