GENEVA, Switzerland – MARCH 1, 2022 – Temenos (SIX: TEMN), the banking software company, today announced that industry analyst firm Gartner, Inc., recognized Temenos as a Leader for its ability to execute and its completeness of vision in the report ‘Magic Quadrant for Global Retail Core Banking’ (GRCB)*. Temenos achieved the furthest overall position for its completeness of vision based on the company’s market understanding, sales strategy, product strategy, vertical/industry strategy, geographic strategy and innovation.
Gartner Analysts, Vittorio D’Orazio and Don Free, authors of the report, stated:
“The demand for core banking packages is expected to grow in 2022 as banks deliver on digitalization strategies while facing the consequences from the pandemic.”
In the last year, Temenos has advanced its technology architecture and banking capabilities to deliver the most open and secure cloud-native platform for composing, extending or deploying banking capabilities at scale. New Composable Banking Services on the Temenos platform accelerate product time-to-market for banks and non-banks by easily combining Temenos Banking Capabilities and third-party solutions from the Temenos Exchange, an open ecosystem of pre-integrated fintech solutions.
According to the Gartner report the core banking market is evolving to adapt to signiﬁcant shifts in the banking industry, especially as it pertains to digital business. Gartner observes that the key to adapting to these changes is the provision of enabling technologies to increase business agility and reduce operational costs. The existence or maturity of this software design construct is challenging to assess for banks that use conventional approaches within a Core Banking System (CBS) selection process, but the potential impact to support digital business agility is huge. Composable technologies can respond to this need.
Max Chuard, Chief Executive Officer, Temenos, said:
“We are proud to be named by Gartner as a Leader in the global core banking space for the 12th time in a row. We believe that being placed furthest for completeness of vision recognizes Temenos’ relentless investments in R&D and our product evolution, resulting in the open platform for composable banking that we offer to clients today. With our breadth of banking services, extensibility and integrated third-party solutions from the Temenos Exchange, Temenos is the banking platform for everyone. We help incumbent banks modernize their legacy systems, and challenger banks and new entrants launch fast and scale massively. Temenos is creating value for all players in the banking ecosystem that traditional and neo vendors cannot match.”
Temenos guides the industry with its open platform used by more than 3,000 banks worldwide, including 41 of the top 50 global banks and over 70 challenger banks. With one platform on a single code base, Temenos also uniquely offers customers the choice to run on any public cloud, on-premise, or as SaaS, through the Temenos Banking Cloud.
*Gartner, Inc., “Magic Quadrant for Global Retail Core Banking,” Vittorio D’Orazio and Don Free, February 09 2022
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