Temenos Group

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Temenos AG
Public (SIXTEMN)
Industry Banking Software
Computer software
Founded Geneva, Switzerland (1993, as Temenos Systems)
Headquarters Temenos Headquarters SA, 2 Rue de l'Ecole-de-Chimie, CH - 1205 Geneva, Switzerland
Key people
Andreas Andreades, Chairman
David Arnott, CEO
Max Chuard, CFO and COO
Andre Loustau, CTO
George Koukis, Founder and Non-executive director
Products Analytics
Core Banking (T24)
Channels
Financial Crime Mitigation
Front Office
Funds & Securities
Payments
Risk & Compliance
CorporateSuite
FundSuite
IslamicSuite
MicrobankingSuite
RetailSuite
WealthSuite
UniversalSuite
Revenue Increase $737 million (2017 revenue)[1]
Number of employees
4,600 (2017)[2][3]
Website www.temenos.com

Temenos AG (SWX: TEMN) is a company specialising in enterprise software for banks and financial services, with its headquarters in Geneva, Switzerland. Temenos was initially created in 1993, and has been listed on the Swiss Stock exchange since 2001.

Company profile[edit]

Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos AG is a provider of banking software systems to retail, corporate, universal, private, Islamic, microfinance and community banks. Headquartered in Geneva, Switzerland, and with 63 offices in 42 countries, Temenos serves over 3,000 financial institutions in 145 countries across the world.[3][2] It claims to be used by 41 of the top 50 banks worldwide.[2][3]

History[edit]

The company was started in November 1993, by George Koukis having acquired the rights to GLOBUS, the successful banking software platform developed by a team of technical and banking experts in 1988. The company was Temenos, in reference to a lecture on Money given by Hans-Wolfgang Frick at the Temenos Academy[4] (1992), and continued to develop and market GLOBUS.

In 2001, Temenos went public[5], and is listed on the main segment of the SWX Swiss Exchange (TEMN). Also in 2001, Temenos acquired a mainframe core banking application aimed at high-end retail banks, originally developed by IBM, and now marketed as Temenos Corebanking.

On the 30th September 2003 Temenos launched T24. T24 was based on GLOBUS[6], but with a state of the art banking technology platform. This is the result of 3 years of development effort and an investment of more than USD 24 million.

In 2011, George Koukis stepped down as Chairman and became a Non-executive director,[7] and Andreas Andreades became Chairman.

In April 2018, Temenos won a contract to provide its financial technology platform for Nordic-Baltic telecommunications company Telia’s digital banking services.[8]

Acquisitions[edit]

Companies acquired by Temenos, listed by year
Year Company Country
2007 Actis.bsp[9] Germany
2008 Financial Objects Ltd[10] United Kingdom
2008 Lydian Associates Ltd[11] United Kingdom
2009 Viveo[12] France
2010 FE Mobile[13] United Kingdom
2010 Odyssey Financial Technologies[14][15] Luxembourg
2011 Primisyn[16] Canada
2012 Edge IPK[17] United Kingdom
2013 Trinovus[18] United States
2015 Akcelerant[19] United States
2015 Multifonds[20] Luxembourg
2017 Rubik Financial Limited ('Rubik')[21] Australia

It was announced on 20th February 2018 that Temenos was in advanced discussions to acquire Fidessa, another financial trading software house.[22]

Industry Recognition[edit]

In July 2017, Temenos was recognized as a Market Leader by Gartner in their report "Magic Quadrant for Global Retail Core Banking".[23]

Temenos has been awarded the "Payments Innovation of the Year" award by the business website FStech on March 2018.[24]

In March 2018, Temenos' Islamic Banking Suite was named the "Best Islamic Banking and Finance Software Solution" at the 2018 World Islamic Finance Awards.[25]

References[edit]

  1. ^ "2017 Financial Statement" (PDF). www.temenos.com. Temenos. 13 February 2018. Retrieved 13 February 2018. 
  2. ^ a b c "What we do - Temenos". Temenos company website. Retrieved 4 October 2016. 
  3. ^ a b c "REAL-WORLD FINTECH: Interim Report 2017" (PDF). temenos.com. 
  4. ^ "Temenos Academy Publications catalogue". www.temenosacademy.org. 
  5. ^ "Investor FAQs". Temenos. Retrieved 2017-10-13. 
  6. ^ "Temenos Globus / T24 Banking Package « WIKIBANKING dot INFO". www.wikibanking.info. Retrieved 2017-10-13. 
  7. ^ "Temenos Group announces CEO and Chairman succession plans". temenos.com. Temenos Headquarters SA. 16 February 2011. Archived from the original on 4 May 2012. Retrieved 3 October 2017. 
  8. ^ Editorial, Reuters. "Temenos wins contract with Telia for digital banking services". U.S. Retrieved 2018-05-30. 
  9. ^ "Temenos buys German banking software outfit ACTIS.BSP". Finextra Research. 2007-03-12. Retrieved 2017-10-13. 
  10. ^ "Temenos to acquire Financial Objects", Finextra, 3 July 2008, retrieved 9 June 2010 
  11. ^ "Temenos Acquires Lydian Associates To Enhance Business Intelligence Modules | Global Custodian". www.globalcustodian.com. Retrieved 2017-10-13. 
  12. ^ "Temenos buys rival core vendor, Viveo", IBS Journal, 6 January 2010, retrieved 9 June 2010 
  13. ^ "FE-Mobile acquired by Temenos Group AG | Gibraltar". www.bcms.com. Retrieved 2017-10-13. 
  14. ^ Finextra (2010-09-28). "Temenos agrees Odyssey acquisition". Finextra Research. Retrieved 2017-10-13. 
  15. ^ "Odyssey Financial Technologies joins forces with Temenos". odyssey-group.com. Odyssey Group S.A. 27 September 2010. Archived from the original on 30 May 2014. 
  16. ^ "Temenos buys Canadian BI software vendor Primisyn". Finextra Research. 2011-07-27. Retrieved 2017-10-13. 
  17. ^ "Temenos Acquisition Adds New Front-End Software to Its Core Offerings | Bank Systems & Technology". Bank Systems & Technology. Retrieved 2017-10-13. 
  18. ^ "Temenos expands U.S. footprint with TriNovus buy". Reuters. 2013-03-22. Retrieved 2017-10-13. 
  19. ^ "Temenos purchases Akcelerant to accelerate growth in North America". Temenos. Retrieved 2017-10-13. 
  20. ^ "BRIEF-Temenos Group acquires Multifonds for 235 mln euros". Reuters. 2015-03-04. Retrieved 2017-10-13. 
  21. ^ "Temenos announces closing of Rubik acquisition and revises its 2017 outlook". Temenos. Retrieved 2017-10-13. 
  22. ^ https://www.ft.com/content/69d33fe2-160f-11e8-9376-4a6390addb44
  23. ^ https://www.gartner.com/doc/3757465/magic-quadrant-global-retail-core
  24. ^ "FStech Awards". www.fstech.co.uk. Retrieved 2018-05-20. 
  25. ^ "Islamic Finance Awards - World Finance". www.worldfinance.com. Retrieved 2018-06-07. 

External links[edit]