News

Temenos Named a Leader for 11th Time in Gartner Magic Quadrant for Global Retail Core Banking

Leader position is based on Completeness of Vision and Ability to Execute

Temenos believes this is recognition of its innovative cloud-native technology and its investment in delivering the richest banking functionality

Temenos has the largest cloud core banking software installed base globally

Press Releases,
Temenos – Company

GENEVA, Switzerland – August 20, 2020 – Temenos (SIX: TEMN), the banking software company, today announced that leading industry analyst firm Gartner, Inc., has again named Temenos as a Leader for its ability to execute and its completeness of vision in Gartner’s August 2020 Magic Quadrant for Global Retail Core Banking report.

Max Chuard, Chief Executive Officer, Temenos, said:

“We are proud to be named by Gartner as a Leader in global core banking for the 11th time. We believe Temenos SaaS is powering the digital banking revolution, accelerating the digital transformation and transition to the cloud for traditional banks and fueling a new breed of mobile-first neobanks all around the world. Today, we have over 800 core banking customers, and the largest installed base in cloud according to the report. We take a new bank live every day and we are implementing remotely to support our customers during these challenging times. We continue to invest heavily in R&D, more than any competitor in this space, and have made strategic investments to enhance our cloud-native platform with the latest technology, including AI, microservices, and richest banking functionality. We believe our position in the Magic Quadrant is validation of these investments, our strategic vision and global customer success.”

According to Gartner Analysts, Vittorio D’Orazio and Don Free, authors of the report:

“The demand for core banking packages is expected to grow in 2020 as banks deliver on digitalization strategies while facing the consequences from the COVID-19 pandemic.”

Temenos Transact core banking software offers the winning combination of advanced cloud-native, AI and API-first technology and the richest banking functionality to help banks transform faster.

Today, Temenos Transact is delivered as Temenos SaaS and can also be deployed natively on all main commercial cloud platforms or a private cloud, allowing banks to take the full benefit of lower operating costs and elastic scalability of these services, as well as benefiting from in-built operational resilience. Temenos’ technology  microservices architecture helps banks replace their legacy systems at their own pace and  deliver additional services and capabilities on top of multiple systems. Temenos Transact is also now pre-integrated with Temenos Infinity, the breakthrough digital front office product, to deliver an end-to-end digital transformation.

AI has emerged as a top priority for banks and with the July 2019 acquisition of Logical Glue, Temenos is the first to bring transparency and explainability of AI automated decision making to the banking industry.

*Gartner, Inc., “Magic Quadrant for Global Retail Core Banking,” Vittorio D’Orazio and Don Free, August 2020

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Temenos Press Contacts

Jessica Wolfe & Scott Rowe

Temenos Global Public Relations

Alistair Kellie & Andrew Adie

Newgate Communications for Temenos

Filed under:

Press Releases,
Temenos – Company