Temenos recognized with highest score in current offering and market presence categories
Temenos (SIX: TEMN), the banking software company, was named a Leader in The Forrester Wave™: Global Digital Banking Platforms, Q3 2018. Temenos’ digital banking platform received the highest score in the current offering category after Forrester evaluated the strengths and weakness of the top 10 digital banking platform solutions against 40 criteria. Temenos also achieved the highest score in the market presence category.
According to the Forrester report, “Temenos’ banking platform excels with [its] current offering”.
It also noted Temenos for its customer-focused product configuration, which it stated was “second to none in this Wave”. Temenos offers an upgradeable, packaged banking platform built on open banking architecture, which enables banks to scale at the pace of their business, lower their Total Cost of Ownership (TCO) and deliver compelling customer experiences.
Temenos serves over 3,000 financial institutions in over 150 countries around the world supporting them to realize their digital transformation. With its robust partner model – which now counts over 4,750 Temenos skilled consultants – the company delivered over 250 go-live projects in the previous year. The Forrester report noted that Temenos’ banking platform’s “ability to support testing, delivery and upgrades both on-premises and out-of-the-cloud are second to none.”
According to the report by Jost Hoppermann, Vice President and Principal Analyst, Forrester: “Today’s banks need to cope with a changing and continuously increasing stream of business requirements, such as compliance with regulatory rules, better customer service, creating innovative banking products services, increased operational efficiency, and cost management. Both business and technology leaders are aware that their often-severely-overaged banking platforms do not provide a foundation for remaining competitive much longer. [Application development and delivery] teams need to identify state-of-the-art banking platforms that will help their bank survive in the fast-paced world of open digital banking.”
David Arnott, Chief Executive Officer, Temenos, commented: “We are excited that Temenos is a Leader the 2018 Forrester Wave, which we believe consolidates our overall market position as the world’s No. 1 banking software provider. Our relentless investment in R&D and aggressive innovation roadmaps make our software product the best digital banking platform in the market. Banks are now embarking on IT overhaul projects to respond to the changing market and customer needs and Temenos is the trusted digital banking platform partner that can help them innovate now and in the future.”
The Forrester Wave report on banking platforms evaluates vendors according to their current offering, strategy and market presence.
Temenos was also named a Leader in The Forrester Wave™: Digital Banking Engagement Platforms, Q3 2017 receiving the highest scores amongst all vendors in the customer experience criterion. Temenos believes that these two reports demonstrate that it has an exceptional front-to-back office offering for banks investing in digital transformation cycles.
Temenos was also named a “Global Power Seller” by Forrester for new business deals for 12 consecutive years based on the analyst firms’ Global Banking Platform Deals Survey 2018 and cited as a Top Global Player for combined deals, which measures new and extended business across the regions of the world (True Digital Banking Drives Interest In Core Banking, April 2018, Forrester).