Big Gap Opens up in Payments between Temenos and Rivals
Temenos tops IBS Intelligence’s Sales League Table 2019 in Payments.
IBS Intelligence Sales League Table is the most definitive leaderboard benchmark of global banking technology supplier performance across both conventional and digital banking categories.
It has been compiled every year for 18 years.
The Sales League Table team reaches out to all Banking Technology system suppliers internationally and constructs a definitive list of the new-name deals for the year. Only sales to financial institutions are included, and deals signed with corporates – even if it is for the same solutions – are not counted.
Payments is an area where a lot of new developments are shaking up the market as financial institutions look to cater to customer demands for frictionless, instant payments and many new-entrants attempt to display dominance. The increased market activity is reflected in the IBSI SLT payments and card management category with Temenos coming out on top as the clear winner in this category with 17 deals. Europe accounted for 10 of those deals. in contrast, the runner’s up had seven deals for 2018.
“Temenos was ranked #1 in the IBSI Sales League Table 2019 within the Payment Systems Category. We’ve been impressed with the Temenos growth story and see huge momentum for next generation payments solutions worldwide.”IBSI Sales League Table Panel
The continuing success of Temenos Payments is not surprising, but we are still delighted to have achieved this position in the iconic IBSI Sales League Table, with a ranking that confirms the depth, scalability and flexibility of our cloud-native, cloud-agnostic platform.
IBSI mentioned the increased momentum in next-generation payments solutions, and they are correct. The increasing number of banks making use of our solutions delivered as Software as a Service (SaaS) demonstrates that there are more and more banks making the move to Cloud because they know that they cannot afford not to take advantage of the agile scalability, increased security and much-reduced operational costs the Cloud provides. And upgrades are delivered on a rolling basis, meaning that cost and disruption are reduced and new innovations can be brought to market sooner.
Why Temenos Payments in the Cloud are the way Forward?
The Temenos Payments solution operates at extremely high STP rates. This is enabled, in part, by the Payment Repair capability as well as by the configurable exception-handling capabilities of the solution. The STP rate can be further improved by the use of elements of the Financial Crime Mitigation solution, in areas such as sanctions screening and the new AI driven Peer Group Identifier capability.
Not only does the SaaS nature of the solution mean easy, fast and reliable installation and software changes but it also means an enhanced level of security since Temenos’ SaaS partners have the ability to provide a greater level of security than any one bank or financial institution could ever provide.
All financial institutions using SWIFT need to be able to confirm payments to the SWIFT gpi tracker by the end of 2020. Temenos Payments is already compliant, enabling banks to stay compliant, embrace new payments services as they appear and provide a great customer experience.