IBS Intelligence recognizes Temenos as the #1 best-selling banking software across eight categories; the highest awarded to any technology provider
Temenos continues to top the IBS Intelligence Sales League Table as Banks Accelerate Move to Cloud and SaaS
GENEVA, Switzerland, July 12, 2023 (GLOBE NEWSWIRE) -- Temenos (SIX: TEMN) has been recognized as the global market leader by IBS Intelligence in the for Core Banking, Digital Banking and Channels, Payments, Treasury and Risk Management and Islamic Banking for core and risk management.
Temenos also ranked #1 in each of the following markets: Europe, Middle East and Africa in the Regional Sales Awards. Temenos maintained its #2 position in North and South America with key wins including a top 30 US bank. The results highlight the breadth of Temenos’ leadership as the banking platform of choice across regions and product segments. Temenos is the only vendor that has been ranked #1 in the core banking category for the last 18 consecutive years.
The IBS Intelligence Annual Sales League Table (SLT) assessed systems purchases made by over 500 banks and financial institutions across 170 products from 57 vendors across the Americas, Europe, Middle East, Africa, and APAC. It is an annual benchmarking exercise, running for 30 years, based on the number of new customer contracts signed in a calendar year. The SLT is recognized as the barometer for financial technology providers’ sales performance across the banking industry.
In the 2023 IBSi analysis, Temenos has retained its position as market leader across eight categories, ranking:
- #1 for Universal Banking (core) across retail, wealth, SME and corporate segments
- #1 for Digital Banking & Channels
- #1 for Payment Systems (Retail)
- #1 for Risk Management
- #1 for Islamic Universal Banking
- #1 for Digital-only Banks, with Temenos winning nearly a third of all new deals in 2022
- #1 Treasury & Risk Management
- #1 Islamic Banking (Risk Management)
As the shift to cloud and Software-as-a-Service (SaaS) accelerates, the results prove that banks continue to look to Temenos to lead the way. According to a , cost reduction and adoption of AI together with business agility, elasticity and scalability are top drivers of cloud adoption. Temenos SaaS delivers the benefits of the cloud while enabling banks to focus on customer-centric innovation and take advantage of new opportunities like Banking-as-a-Service, on a secure and trusted evergreen service.
Andreas Andreades, Chief Executive Officer, Temenos, commented: “The IBSi Sales League Table rankings reconfirm our leadership and prove that Temenos is the platform of choice for banks of all sizes and non-banks, irrespective how they choose to deploy our software - on premise, on any public cloud or as SaaS on Temenos Banking Cloud. With our critical mass and broad leadership, we are able to continue to invest relentlessly on our single platform with its single code configuration base, which means that all banks, regardless of size and segment, can leverage our R&D now and into the future through our evergreening business model allowing all business segments from payments to core to digital to benefit continuously from this investment The banking landscape is going through a fundamental change, and financial institutions need business agility and scalability on a whole new level. For many, this means a move to cloud and SaaS. Building on our strong SaaS credentials, we do not only offer the software but also the service, and this will increasingly drive Temenos’ growth in the future.”
Temenos has 700 clients live on Temenos Banking Cloud across five continents, and 30 regulatory jurisdictions, and a new bank is going live on its SaaS platform on average every 10 days. Banks running on Temenos Banking Cloud benefit from more than 95% lower carbon emissions over traditional on-premise applications. Temenos is also helping clients measure, improve and report on their carbon footprint of their operations with the Carbon Emissions Calculator, a first in the industry.
Nikhil Gokhale, Head of Research, IBS Intelligence, said: “Consumers' enthusiastic use of FinTech tools led banks to invest further in innovation last year, making the IBSi Sales League Table 2023 (SLT 2023) more significant than ever. Our findings in the SLT 2023 show that cloud and SaaS adoption is accelerating significantly. In addition, we see a shift to next-gen core banking systems which offer banks the flexibility of SaaS with reliability and rich functionality, all areas which Temenos is well recognised for in the industry. On behalf of IBSi, I would like to congratulate Temenos for continuing to lead the industry and for being at the forefront of banking innovation, addressing the needs of banks and financial services institutions, whether they are retail, corporate, SME or wealth-focused, and regardless of size or location. The SLT continues to be a barometer for the health of the banking and financial services industry globally and, at IBSi, we are proud to be a valued source of insight for the global banking industry.”
This recognition is the latest in a series of analyst accolades in the last six months; Temenos has been recognized as a leader in wealth with the Everest Wealth Products Peak Matrix, the WealthTech 100 for 2023, and the Omdia Universe report on Digital Banking Platforms.
About Temenos
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.
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