Temenos (SIX: TEMN), the global provider of banking software, today announced that Forrester Research, Inc. has again named Temenos and its T24 core banking platform a leader in its December 2010 report, The Forrester Waveâ¢ Global Banking Platforms, Q4 2010. Temenos has maintained its leadership position in the report since 2007.
Forrester Research selected vendors based on qualification criteria that included a forward-looking architectural approach, sound success in 2008 and 2009 and global delivery capability. Vendors were evaluated against 80 criteria which were grouped into three key areas: current offering - to assess product strength, strategy â to compare vendor strategies with industry trends and banking needs and market presence â to understand installed base size, implementation capability and revenue growth.
The report cited, âTemenos with T24 excelled with the highest marks for support of regulatory requirements and business/metadata parameterization as well as selected product strategy topics such as the process composer and business services ecosystemsâ.
âThe recession slowed down or stalled all kinds of large scale application development and delivery projects in numerous banks. However, even during the recession, many banks continued to prepare and plan to restart their prerecession renewal initiatives or even began new, even broader transformation programsâ¦Today the vast majority of financial services firms in general and banks in particular are either working on modernising their application landscape or plan to do so within the next few yearsâ, explained Jost Hoppermann, Vice President, Forrester in the report, âConsider Temenos for your vendor shortlist if you need a banking platform with broad functionality, strong platform agility, and strong service and support capabilities....â
Temenos focuses 100% of its resources on banking platform products and continues to supply core banking systems to all geographies across a wide variety of banking sectors and institutions. In addition, its strong revenues demonstrated full financial capability to support its corporate strategy.
Andreas Andreades, CEO, Temenos, comments: âThis ranking not only reaffirms Temenos as a clear market leader in the global core systems market, but also reinforces our strong performance over the last two years during a time of industry wide uncertainty. Today we observe not only acceleration in strategic IT investment but also an increasing trend towards packaged solutions as banks look for end to end operational support to reduce cost and minimise risk. As a pure play expert in business banking applications, Temenos is uniquely positioned to capitalise on this with an advanced product roadmap driven by unparalleled R&D investment, a robust partner strategy and a
clear acquisition path. Together, these provide a world class combination in bringing new, complementary offerings and best in class services to our 1100 strong client base across the globe today, tomorrow and in the futureâ.