GENEVA, Switzerland – November 19, 2021 – Temenos (SIX: TEMN), the banking software company, today announced that Temenos has won the Agility & Efficiency Category of 2021 IDC FinTech Rankings Real Results Awards with the case study, ‘Retail Banking Transformation at Comerica’. For the outstanding results of that case study and for having the highest case study score, Temenos was named a 2021 Overall Winner.
There is a perfect storm for digital transformation in banking, driven by rising competition, customer expectations and profitability pressure. Temenos invests 20% of its revenues into R&D in order to help financial institutions navigate these current and emerging challenges. Earlier this year, Temenos’ launched The Temenos Banking Cloud, bringing together industry-leading functionality, innovation investment, and front-to-back banking services. This expands on Temenos’ ongoing investment in Temenos Transact, the next-generation in core banking, and Temenos Infinity, the leading digital banking platform which can increase digital revenues 5X and cut customer onboarding time by 75%.
Temenos attributes its winning position to its open cloud banking platform which provides financial institutions of all sizes with scalability, agility and flexibility to implement new products quickly, scale at pace, and create digital ecosystems.
Jerry Silva, Vice President, IDC Financial Insights, commented:
“We are delighted to recognize Temenos for their winning project at Comerica Bank as part of the IDC FinTech Rankings Real Results Awards. IDC chose this case study due to the bank’s focus on customer experience, the breadth of the overall work at the bank, the ability for Temenos to accomplish the transformation, and, most importantly, the quantifiable business results that were achieved. The IDC FinTech Rankings Real Results program award recognizes IT providers that have showed genuine, measurable, and future-enabling change to financial services institutions globally.”
Max Chuard, Chief Executive Officer, Temenos said:
“The pandemic has exacerbated the drivers for digital transformation. This digital banking experience project helped our client seamlessly transition from a branch-centric model to fully online at the beginning of the pandemic and is powering its digital transformation. We have a vision to power a world of banking that opens opportunities for businesses and people, and we’re proud that IDC has recognized the genuine, measurable and future-enabling change that we deliver to our clients. These awards are a testament to our constant investment in innovation, and our commitment to the success of over 3,000 financial institutions.”
The IDC FinTech Rankings Real Results program is part of the broader IDC FinTech Rankings program that categorizes and evaluates the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software and/or services. The annual IDC FinTech Rankings and Real Results Awards have become an important measure of the health and direction of technology in the industry and the emergence of innovative solutions from new and established players.
 Temenos and Zoloz were both recognized as Overall Winners in the 2021 FinTech Rankings Real Results based having the highest case study scores.