Published by Global Banking and Finance Review
Posted on April 23, 2025
By Marleen Kaesebier
(Reuters) -Swiss banking software company Temenos had some deals delayed last month because of U.S. President Donald Trump's April 2 tariff announcement, but they were coming through now and the group's U.S. growth plans were on track, its finance chief said on Wednesday.
Temenos shares fell more than 4% after it reported after market close on Tuesday lower than expected first quarter revenues, saying some deals were delayed because of economic uncertainty.
"There were some uncertainties, some banks were more cautious ahead of the, call it 'liberation day', but the majority went ahead and said, 'We're not affected directly'," Chief Financial Officer Takis Spiliopoulos told Reuters, referring to Trump's tariff announcement.
"None of these deals got lost or anything," Spiliopoulos, who was speaking before Wednesday's market open, said.
"Basically the deal is almost done, but the last mile was pushed into early April, mid-April."
He said some of those deals have already been signed and more were expected this week.
In November, Temenos detailed its plans of increasing its focus on the U.S. market, planning to boost its sales force to increase growth over the next four years, and Spilliopoulos said the group remained committed to that plan.
"It's a long-term massive opportunity for us to conquer the U.S. market," Spiliopoulos said "You can't call yourself a global leader if you don't make it in the U.S."
Serving more than 950 core banking and over 600 digital banking clients, Temenos, which offers a banking platform to financial services providers, reported sales of over $1 billion in 2024, with 27% generated in the Americas.
($1 = 0.8233 Swiss francs)
(Reporting by Marleen Kaesebier in GdanskEditing by Tomasz Janowski)
