GENEVA, Switzerland – July 10, 2018 – Temenos (SIX: TEMN), the banking software company, today announced that leading industry analyst firm Gartner, Inc., positioned Temenos as a Leader for its ability to execute and completeness of its vision in the June 2018 report ‘Magic Quadrant for Global Retail Core Banking’ (GRCB).
This report assessed 10 vendors based on the multicurrency products they offer in support of a bank’s financial transaction management in the retail banking market.
Gartner Analysts, Vittorio D’Orazio and Don Free, authors of the report, stated:
“Core banking market demand is surging to support digital banking transformation, with an increased focus on commercial off-the-shelf packages and public cloud. Bank CIOs should evaluate core banking products in the broader context of the open core banking ecosystem… Moreover, the shift to open banking platforms which integrates all of the stakeholders in a bank’s value chain: financial technologies (FinTechs), technology partners, bank employees, customers, regulatory authorities and other banks.”
Temenos’ core banking software is an integrated, componentized, upgradeable and scalable package built on an open banking architecture. Banks are able to utilize robust open APIs to operate collaborative business models, forming an ecosystem of third-parties that are integrated into the value chain for the bank’s customers. Temenos core banking software is platform-agnostic, and is available through public cloud, private cloud or on premise. Temenos boasts over 3,000 clients including top tier financial institutions such as Nordea, Bank of Ireland, KBC and Itaú.
According to Gartner,
“CIOs can’t execute effectively on digital business strategies and business models without a CBS (Core Banking System) that has the necessary agility to open and expose back-office business services to both known and unknown partners.”
David Arnott, Chief Executive Officer, Temenos, said:
“We are proud to be named by Gartner as a Leader in the global core banking space for the ninth consecutive time. Temenos has been in the forefront of software innovation, consistently investing 20% of our revenues in R&D. We have been pioneering in cloud banking for 10 years, and were the first to put a core banking system in the public cloud. In 2017, we won the largest number of deals in the market and delivered over 250 go-lives supported by our robust partner model – we have over 4,750 Temenos skilled consultants. The Temenos community is stronger than ever. Our clients, partners and our MarketPlace technology providers form the most dynamic banking technology community. Together, we help banks of all sizes to embark on their digital transformation journeys and reimagine their business models.”