GENEVA, Switzerland – September 04, 2020 – Temenos (SIX: TEMN), the banking software company, today announced that it has been recognized as a leader in The Forrester Wave™: Digital Banking Processing Platforms (Retail Banking) Q3 2020. We believe Temenos’ position as a leader is recognition that Temenos offers the richest banking functionality and the most advanced cloud and AI technology, helping retail financial institutions worldwide to accelerate their digital transformation.
According to the Forester report, Temenos’ retail core banking solution, Temenos Transact, “excels with its delivery and operations capabilities” and its “ability to support testing, delivery and upgrades both on premise and out-of-the-Cloud remains second to none.”
Max Chuard, Chief Executive Officer, Temenos, said:
“We are delighted to be recognized as a leader in the Forrester reports for both retail and corporate banking. Our core banking solution Temenos Transact is built for the digital banking age and we believe this recognition reflects our technology leadership, strategic vision and customer success. Temenos Transact enables incumbent banks to transform and innovate while also enabling neobanks to go to market faster. Today, Temenos has over 800 core banking customers and the largest installed base in cloud. These forward thinking financial institutions know that with Temenos’ cloud-agnostic, API-first and explainable AI technology, they can achieve industry leading cost-income ratios, launch products 10x faster and elastically scale with the flexibility and resilience to run on any cloud. During the Covid-19 pandemic, we continue to deliver our digital transformation projects to banks around the globe – often remotely – and we have maintained our very high R&D productivity as we continue to innovate and drive our product roadmaps forward.”
The Forester Wave report evaluated the top 10 retail banking platform vendors against 36 criteria according to their current offering, strategy and market presence. Temenos received the highest score in the market presence category and was among the top three in the strategy category, which we think reflects our success with banks of all sizes from the very largest such as Al Rajhi to the most ambitious new challenger banks such as Varo and WeLab Bank. The Forrester report states that Temenos’ go-to-market approach is global and that it “shows a focus on North America – a region that saw investments, acquisitions, and relevant client contracts.”
Temenos Transact, which is available as SaaS or can be deployed natively in the cloud, enables banks to achieve cost-income ratios that are 2X better than the industry average, become faster and more agile in creating new offerings and expand efficiently and sustainably in line with business growth.
According to the Forrester report:
“Temenos’ Digital Banking Processing Platform [Temenos Transact] excels with its delivery and operations capabilities. [Temenos Transact] is available for on premise and cloud deployment in clouds from AWS, Google, Microsoft and further providers. [Temenos’] ability to support testing, delivery and upgrades both on premise and out-of-the-Cloud remains second to none.”
Temenos was also recently named a ‘Global Power Seller’ and ‘Top Global Player’ based on Forrester’s Global Banking Platform Deals Survey 2020.