Geneva, Switzerland–(BUSINESS WIRE)–Temenos (SIX: TEMN) has been recognized as the market leading open platform for composable banking services in the IBS Intelligence Sales League Table (SLT). IBSi has recognized Temenos as the leader in six categories, more than any other technology provider, including Digital Banking and Channels, Basic Banking and Payments.
The IBSi SLT 2022 evaluated system purchases made by more than 1,000 banks on more than 250 products from 60 vendors. Temenos has been ranked:
#1 Universal Banking – Best-selling Core Banking solution with 49 new named transactions, maintaining market leadership with 49% of total market transactions. Temenos was the only major core vendor to increase market share year over year
#1 for Digital Banking and Channels – signed 79 agreements, maintained over 50% market share in the Americas
No. 1 payment system for retail banking, for the fourth consecutive year, with 43 new registered transactions
#1 for risk management with 39 new name agreements, 2X the number of next provider agreements
#1 for basic Islamic banking with 50% year-over-year growth with 11 new named transactions
#1 provider for digital banks, neobanks and challenger banks with 34 new transactions named – 4X the next provider
Temenos provides the world’s first open platform for composable banking, enabling banks and financial institutions to easily assemble, test and expand their extensive banking capabilities. This helps banks and non-banks bring innovative products to market faster to meet growing customer expectations while reducing development costs. Temenos’ extensibility framework enables its customers to make high-impact changes predictably and with minimal effort using low-code/no-code tools.
Temenos’ continued investment in R&D is reflected in the number of signatures. IBS has recognized Temenos as a global leader, with the highest number of global transactions in 2021. These accolades follow the results of the Forrester Global Banking Platform Deals Survey 2022where Temenos was the only vendor recognized as a Global Power Seller with over 50 new named offerings in over five regions.
Nikhil Gokhale, Head of Research, IBS Intelligence, said: “The core of the future will be a modular system, allowing the bank to ‘change parts’ easily, in a ‘plug and play’ manner and implemented in a cloud environment. -Desktop system categories over The SLT 2022 report highlights that as banks move away from traditional core banking systems, they are opting for micro-level solutions based on their needs rather than replacing their entire systems. ‘fits this trend where financial institutions are looking to modernize their technology one step at a time.’
Max Chuard, CEO of Temenos, said: “We are delighted to be recognized as one of the top-selling banking software providers in six categories, more than any other technology provider, including newcomers and established players. We are proud to power a world banking that creates opportunity for all and that 1.2 billion people rely on our technology for their everyday banking needs. This impact is reflected in our continued success and recognition from industry experts like IBS Intelligence. Financial institutions need an open platform that provides the scalability, agility and speed to respond to a changing world where digital transformation is imperative. This year’s Sales League Table shows once again that Temenos is the strategic technology partner of choice for banks looking to transform the way they do business.
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Temenos AG (SIX: TEMN) is the world leader in banking software. More than 3,000 banks worldwide, including 41 of the top 50 banks, trust Temenos to handle both day-to-day transactions and customer interactions for more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-independent and AI-powered front office, core banking, payment and fund administration software, enabling banks to deliver seamless omnichannel customer experiences and reach operational excellence.
Temenos software has been proven to enable its top performing customers to achieve cost-to-income ratios of 26.8%, half the industry average, and returns on equity of 29%, three times the industry average. These customers also invest 51% of their IT budget in growth and innovation versus maintenance, twice the industry average, proving that banks’ IT investment adds tangible value to their business.
For more information, please visit www.temenos.com.