Resource Type: Analyst Report

A Whole New World: How Technology Is Driving the Evolution of Intelligent Banking

The Economist Intelligence Unit (EIU), on behalf of Temenos, surveyed 405 global banking executives on the changes they see taking place in their industry to 2020 and 2025, their organizational response, and the longer-term impact on their strategic development. This focuses on how these retail banks are incorporating and advancing technology delivery for their current and future customers.

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The survey is part of a global research program on retail banking, which includes in-depth interviews with retail banks, FinTechs, and regulators from North America, Europe, Africa, and the Middle East, Asia-Pacific, Latin America.

Read the full report to find out what Nordea, Nationwide Building Society, Varo Money, Volt Bank and Vancity amongst others are thinking about digital banking, innovation strategies and investment focus.

Download this report to find out where retail banks are focusing their priorities and digital investments, key highlights include:

  • Open banking is seen as a true opportunity; four in ten banks see their business models evolving towards becoming a digital ecosystem;
  • Three in five respondents expect banks to deploy more computing power in the public cloud by 2025 than they currently deploy in all the private cloud data centers;
  • New technologies like AI, machine learning, and blockchain have replaced changing customer behavior and demands as the key driver of strategic thinking at banks around the world in the short (36%) and longer-term (42%).

Download the white paper today to find out more:

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A Whole New World: How Technology Is Driving the Evolution of Intelligent Banking

The Economist Intelligence Unit (EIU), on behalf of Temenos, surveyed 405 global banking executives on the changes they see taking place in their industry to 2020 and 2025, their organizational response, and the longer-term impact on their strategic development. This focuses on how these retail banks are incorporating and advancing technology delivery for their current and future customers.

Download report

This year Temenos featured at the top of the sales league table for core banking again, as in nine of the last ten years. We also featured as the best-selling solutions for digital banking and channels and risk and compliance.

  • #1 best-selling core banking system with T24 Core Banking, securing 45 new name customer deals in 2017, more than double the number of deals compared to the next largest competitor;
  • #1 best-selling digital banking and channels system with Temenos Channels, gaining 33 new name deals – almost twice as many as the next largest competitor
  • #1 best-selling compliance and risk management system with a total of 27 new deals with Temenos Risk & Compliance, 59% more than the second-placed system
  • #2 best-selling Payments system with Temenos Payments selling seven deals in 2017

This ranking, across the bank’s full-stack requirements, is a testament to our strategy of providing packaged, upgradeable, front-to-back software solutions, which help banks to digitalize their operations. Our consistent lead in IBS’ sales league tables shows that we continue to increase the gap against our competition in a market that keeps growing as more banks embark on digital transformation projects, with the aim of becoming end-to-end digital.

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A Whole New World: How Technology Is Driving the Evolution of Intelligent Banking

The Economist Intelligence Unit (EIU), on behalf of Temenos, surveyed 405 global banking executives on the changes they see taking place in their industry to 2020 and 2025, their organizational response, and the longer-term impact on their strategic development. This focuses on how these retail banks are incorporating and advancing technology delivery for their current and future customers.

Download report

Digital Experience Development Platforms (DXDP) enable organizations to rapidly create an integrated portfolio of digital experiences across a variety of end-user channels.

Download a free copy of The Forrester Wave: Digital Experience Development Platforms to learn:

  • What DXDP means for the evolution of application development platform.
  • The business implications of investing in a DXDP platform.
  • Who the leaders are in this important and new technology.

Download the white paper today to find out more:

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A Whole New World: How Technology Is Driving the Evolution of Intelligent Banking

The Economist Intelligence Unit (EIU), on behalf of Temenos, surveyed 405 global banking executives on the changes they see taking place in their industry to 2020 and 2025, their organizational response, and the longer-term impact on their strategic development. This focuses on how these retail banks are incorporating and advancing technology delivery for their current and future customers.

Download report

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A Whole New World: How Technology Is Driving the Evolution of Intelligent Banking

The Economist Intelligence Unit (EIU), on behalf of Temenos, surveyed 405 global banking executives on the changes they see taking place in their industry to 2020 and 2025, their organizational response, and the longer-term impact on their strategic development. This focuses on how these retail banks are incorporating and advancing technology delivery for their current and future customers.

Download report

This industry recognised study reviewing financial crime mitigation (FCM) solutions positions Temenos as the leading provider/highest scoring for:

  • Overall execution – ahead of all other vendors, FS specific and wider
  • Anti-money laundering (AML) functionality (8.5/10)
  • Know Your Customer/Customer Due Diligence (KYC/CDD) functionality (10/10)
  • FCM training and support (9/10)
  • Deployment and maintenance (8/10)
  • Geographic coverage (9.5/10)

As Temenos is focused only on financial services, our business model is built around out-investing the competition in research and development – across our focused product set – and recycling this development effort into packaged, regular, and easily upgradeable releases. The report recognizes this, highlighting that ‘Temenos [oil] is a more specialist provider, with a strong market position for KYC/AML/watch-list-screening capabilities’

Positioning in the report is based upon data and supporting documentation relating to three primary areas: technology, execution, and market impact. This was further supplemented by Ovum’s own data and information sources, to provide a level of validation.

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A Whole New World: How Technology Is Driving the Evolution of Intelligent Banking

The Economist Intelligence Unit (EIU), on behalf of Temenos, surveyed 405 global banking executives on the changes they see taking place in their industry to 2020 and 2025, their organizational response, and the longer-term impact on their strategic development. This focuses on how these retail banks are incorporating and advancing technology delivery for their current and future customers.

Download report

Banks are under pressure to improve their customer engagement to be able to sell to, retain and drive loyalty in their customer base. As the number of digital channels available to  interact with customers increases, banks are looking to invest in packaged systems that manage multiple channels, consistently on a single platform. This not only leads to a better customer experience – but also, lower maintenance and development costs and more easily managed security.

ovum digital banking matrix figure 1
Source: Ovum

“With Temenos UXP, banks get capabilities that equip them for the digital economy. Being based on a user experience platform, the product has a strong underlying foundation that Temenos has developed, and that will probably see further advancements in the near future. Ovum recommends that banks shortlist Temenos when searching for a competitive digital banking platform solution.”

Ovum associate analyst and report Author, Noora Haapajärvi

Temenos – Technology assessment

‘’It show the dedication and investment that Temenos is putting into digital is paying off. What’s even better is this survey was completed before Temenos launched our real-time campaign solution Digital Engagement and we have since upgraded to UXP 6.0 – which we believe further establishes our leadership in digital banking.’’

Temenos offers a complete digital solution for banks – not just the front office and channels solutions. By offering a complete end-to-end solution. 

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