GENEVA, Switzerland – SEPTEMBER 08, 2022 – Temenos (SIX: TEMN) today announced that it has been recognized as a Leader with the highest scores in the Current Offering and Strategy categories in The Forrester Wave™: Digital Banking Processing Platforms for Retail Banking, Q3 2022. Temenos believes that its position reflects the advances in Temenos open platform for composable banking and the broad set of banking services that enable clients to build new digital products and highly personalized customer experiences faster and at lower cost. Temenos was also named a Leader in The Forrester Wave™: Digital Banking Processing Platforms for Corporate Banking, Q3 2022 evaluation.
The report on retail banking, authored by Jost Hoppermann, Vice President and Principal Analyst, Forrester, notes:
“Temenos strategy shows no weak spots…The product roadmap will enable [Temenos] to continue delivering competitive solutions in the future, including ESG-focused retail banking products, AI-powered operations, and fine-grain banking services out of the cloud that are aligned with the concept of a lean core.”
This Forester Wave™ evaluates the top 10 retail banking platform vendors against 33 criteria, according to their current offering, strategy and market presence. Temenos received the highest score in the strategy category and also in the current offering category, which Temenos believes reflects its success in serving clients of all tiers around the world.
Max Chuard, Chief Executive Officer, Temenos, said:
“We are proud to be recognized as a leader in the Forrester Wave report for retail banking. The banking world is changing fast as customers demand Amazon-like experiences made possible by disruptive technologies like AI and the cloud and the global spread of open banking. To be successful in this new world, banks need agility, scale and innovation on a whole new level. With our open platform for composable banking, we have evolved our technology architecture for banks to face these challenges and seize new market opportunities such as Banking-as-a-Service. We believe this recognition as a leader by Forrester shows the maturity of our open and composable platform and market adoption, helping banks deliver the experiences customers want and grow sustainably.”
According to the Forrester report on retail banking:
“Examples of the [Temenos] DBPP’s broad and rich capabilities include functionally rich AI-powered banking capabilities with a strong focus on explainable AI and a state-of-the-art application architecture that has been designed from the ground up to offer choice to banks.”
Temenos was also recently named a ‘Global Power Seller’ and ‘Top Global Player’ based on Forrester’s Global Banking Platform Deals Survey 2022 in the report, ‘Identify The Winners In A Consolidating Banking Platform Market To Make Informed Transformation Decisions.’
On Temenos open platform, clients can compose innovative solutions based on granular banking capabilities. It offers pre-composed, front-to-back solutions and clients and partners can create customized banking services themselves using a personalized sandbox. All these can be integrated with third-party solutions on Temenos Exchange, an ecosystem of pre-integrated fintech solutions. The platform is cloud-native and cloud-agnostic, offering the flexibility to run on-premise, on any private or public cloud, or as SaaS through the Temenos Banking Cloud.
Temenos clients include incumbents such as Bank of Queensland, Commerce Bank, HBL (Habib Bank Ltd) and Mirabaud as well as disruptors such as Green Dot that have chosen Temenos as the technology foundation for their BaaS offerings. Temenos recently launched the first AI-powered BNPL service, helping banks create ethically driven lending programs by providing transparency into automated decisions and matching BNPL customers with appropriate credit offers based on their history.