Temenos T24 extends its lead in the 2014 IBS Sales League Table
Number of new name core banking deals more than double nearest competitor
GENEVA, Switzerland – 6 March 2014 – Temenos (SIX: TEMN), the market-leading provider of mission-critical solutions to the financial services industry, today announces that IBS Intelligence has ranked Temenos T24, Temenos’ core banking solution, in the top position in its 2014 Sales League Table, an annual ranking of core back office systems sales to new name customers across the banking and treasury and capital markets.
T24 was by a large margin the best-selling core banking product in 2013. While T24 has held one of the top two positions in the league table for 15 consecutive years, its lead over the rest of the market is growing. According to the 2014 league table, Temenos recorded more than twice the number of deals as its nearest competitor – for the second straight year.
Temenos was one of very few vendors to see growth in a market that remained relatively subdued in 2013. According to the IBS League Table, Temenos signed 35 new name customers in 2013, a growth of 3% on the year before, whereas the overall market saw a contraction of 18% in deal volume. The decline was seen particularly at the top end of the market with T24 being the only one of the top five market products to increase its sales. T24 recorded deals across multiple banking segments such as retail, corporate, private wealth and Islamic banking, in every continent of the world and with installations both on premise as well as hosted. Significant new name wins included KBC in Ireland and Aktia Bank in Finland.
The results of the IBS Sales League Table reinforce the findings from the Forrester “Global Banking Platform Deals 2013”. This Forrester survey, conducted annually, assesses the volume and the geographical spread of banking platform sales and takes into account sales to both new and existing customers. This survey identified Temenos as the sole ‘Global Power Seller’ in respect of new name sales and the sole ‘Top Global Player’ in respect of combined sales to new and existing customers.
David Arnott, Temenos CEO, commented:
“We are delighted that Temenos has once again been ranked number one in the IBS league table. The results clearly show the enduring nature of our market leadership as well the fact that we are consolidating that leadership position, both of which owe to our business model founded on industry-leading levels of R&D spending channelled into a concentrated suite of packaged and upgradable applications. Our business model ensures that our solutions remain technologically advanced as well as extremely functionally rich which, together with our partner delivery model, enables us to deliver the highest levels of customer success in the industry. The results also demonstrate that, as Temenos has broadened its product and sales coverage into adjacent markets such as channels and payments, we have lost none of our focus on core banking and, in fact, having a rich, multi-product offering is helping to drive core banking sales and underpin our market position.”