Temenos is again the most successful pure-play banking platform vendor […]
Temenos is again the most successful pure-play banking platform vendor
Forrester Research has named Temenos, the provider of banking software, a ‘Global Power Seller’ in its May 2010 report, Global Banking Platform Deals 2009. The survey assessed 17 banking platforms, covering banking platform functionality and number of new customers. The report found that Temenos was a leader with more than 35 new win deals across at least six regions in 2009.
The report revealed that the two global power sellers maintained this position against the smallest number of Global Challengers the report has ever placed. Most vendors lost traction in 2009 on new deals as the consolidation trend in the core banking software industry continues, with only two vendors being classified as Global Challengers in 2009.
The findings showed that with the exception of card management, Temenos’ sold functionality covered all 16 surveyed functional areas. New named deals for Temenos occurred across all seven global regions, with Europe coming out as the company’s strongest region, followed by Asia Pacific and Africa.
Summarising the vendor landscape of 2009 and the market challenges that lie ahead, Jost Hopperman, Forrester Research explained in the report: ‘2009 caused a major shakeup of the vendor landscape. Only a few vendors enjoyed a similar level of success in 2009 as in prior years. 2010 and 2011 will be a crossroad for many vendors and their solutions. Vendor and solution consolidation will continue.”
The report also cited that delivery capability also will become a crucial issue and banks should consider both a vendor’s resource constraints and regional capabilities when making a banking platform selection’.
Despite the challenging macroeconomic conditions of 2009, it was a very active year for Temenos. It was selected by more than 35 new clients and it acquired new business intelligence, anti money laundering and payments products through the acquisitions of Viveo and Lydian. It also forged a number of strategic partnerships with the major industry firms including Deloitte and Cognizant. 2010 follows a similar pattern as Temenos further strengthens its product roadmap with the acquisition of FE Mobile, marking the company’s entrance into the realm of mobile banking and a new alliance has been forged with Capgemini to enhance Temenos’ service capacity across the globe.
Andreas Andreades, Chief Executive Officer, Temenos commented: ‘We are excited to be named a global power seller in this report for the 4th consecutive year, which reaffirms the strength of Temenos’ global reach and market leading position ahead of our competitors. . 2009 was a year of survival for many banks as well as a number of vendors amid further market consolidation and polarisation. The investment drivers for core banking replacement are greater than ever, with heightened pressures around regulation and customer service. As banks define their long term strategies we expect them to invest in core banking transformation once more but in a much more demanding way driving further consolidation in our industry. Our product and services strategy for the next three years will enable us to provide continued support to banks across the world facing these new challenges, as we expand our solutions suite and delivery capabilities. With over 15 years experience in this industry, banking lies at the heart of everything we do. Our Model Bank offering, coupled with our consistently high investment in R&D means we are in the strongest position to understand and address the global and local needs of banks across the world”.