Temenos Recognized in 2022 Deal Survey with More than Double the New Named Deals of the Next Surveyed Vendor
Temenos (SIX: TEMN) has been listed as the only ‘Global Power Seller’ in Forrester’s prestigious Global Banking Platform Deals Survey 2022 , the results of which are presented in the report, ‘Identify The Winners In A Consolidating Banking Platform Market To Make Informed Transformation Decisions’. As stated in the Forrester report, Temenos landed more new global banking deals than any other surveyed provider in 2021.
Temenos will present its open platform for composable banking at Money2020, 7-9 June, in Amsterdam .
Temenos was also named the only ‘Top Global Player’ in the survey, based on combined deals, representing a vendor’s ability to enhance its market position and create value for its existing customers. Temenos also maintained its placement as the only ‘Top Global Cross-Seller’ in Forrester’s newest category, introduced last year, which focuses on extended business. According to the Forrester report, ‘extended business deals represent a vendor’s ability to keep creating value for existing customers.’
The Forrester report reconfirmed Temenos’ status as a ‘Top Global Player’ for the 10th consecutive year. This ranking recognizes platforms with over 150 combined deals (new names and extended deals with existing customers) in more than five regions. With 195 deals signed with new and existing customers, Temenos maintained its position. Temenos also retains its position as a Global Power Seller’, the highest status in the vendor pyramid for new deals. With 93 new business deals in 2021, more than double the number of deals of the next surveyed vendor. This marks the 16th consecutive year that Temenos has received recognition from Forrester.
Max Chuard, Chief Executive Officer, Temenos, said: “We are delighted to continue to be recognized in the Forrester Deal Survey. Temenos is the only vendor recognized as a Global Power Seller, a Top Global Player and a Top Global Cross-Seller in the 2022 Deal Survey. Today, banking is happening everywhere, outside of banking channels through embedded financial services. It’s a massive change and a new revenue stream worth $3.6trn by 2030. Banks and non-incumbents need the right platform for agility, scale, and innovation to succeed in this new world. It’s why Temenos is evolving into an open platform for composable banking. A platform where services for retail, corporate and wealth banking can be built and consumed by everyone, including established banks, challengers, and fintechs.”
The report, authored by Jost Hoppermann, Vice President and Principal Analyst, Forrester, states : “Despite all of the banking industry’s efforts to modernize its application landscapes and improve its digital readiness, legacy software still causes major business challenges. While the transformation pace has increased, it has not yet reached all functional areas. […] Forward-looking incumbents have started moving toward lean cores but need time to bring their rich functionality to the new architecture and allow their installed base to catch up. If these vendors belong to the more successful survey participants, banks can get functionally broad solutions with modern architecture and comparably low vendor risk.”
Temenos was most recently recognized as a leader in ‘The Forrester Wave™: Digital Banking Engagement Platforms, Q3 2021 ’ and ‘The Forrester Wave™: Digital Banking Engagement Hubs, Q3 2021’ .
– Ends –
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com .
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