Temenos (SIX: TEMN), the banking software company, has been listed as the only ‘Global Power Seller’ in Forrester’s prestigious Global Banking Platform Deals Survey 2021, with a 20% increase in new named deals compared to previous year. Temenos was the only top 5 vendor to grow its number of deals in 2020. Temenos landed more new global banking deals than any other surveyed provider in 2020, as stated in the Forrester report. Temenos was also named a ‘Top Global Player’ in the survey, based on combined deals, which represent a vendor’s ability to enhance its market position and keep creating value for its existing customers. Temenos also became the first vendor to be recognized by Forrester as a ‘Top Global Cross-Seller’ in Forrester’s newest category focused on extended business. According to Forrester, “extended business deals represent a vendor’s ability to keep creating value for its existing customers.”
Forrester reconfirmed Temenos’ status as a ‘Top Global Player’ for the 9th 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 209 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 2020, 3X more deals than the next surveyed vendor. This marks the 15th consecutive year that Temenos has received this recognition.
Max Chuard, Chief Executive Officer, Temenos, said: “We are delighted to be recognized in Forrester’s Global Banking Platform Deals Survey across all seven surveyed regions and categories, and to be the only technology company to be in the top segment of all three tables. We operate in a huge USD 63 billion addressable market, which is largely underpenetrated, with only 27% today spent with third-parties, which creates big opportunities. As the deal figures show, Temenos is one of the only technology providers continuing to grow. We have over 3,000 customers, including over 70 challengers, and we are servicing them by constantly investing in innovation and in our technology roadmap across products and geographies to help them transform their IT landscapes. And by bringing to market The Temenos Banking Cloud, we now empower banks to digitally transform and massively scale faster than ever. We are putting banks in control of their business models and innovation cycles, giving them the agility and speed to deliver real value to their customers and build profitable businesses.”
Results From Forrester’s Global Banking Platform Deals Survey 2021, authored by Jost Hoppermann, Vice President and Principal Analyst, Forrester, states: “Banks have long recognized that their application landscapes can’t deliver the seamless and convenient experiences their customers require, leading to many institutions accepting the transformation imperative[…]. The pandemic has improved the banking industry’s application landscapes and digital readiness. However, it is still far from perfect: Despite the increased transformation pace, plenty of functional areas still need digital transformation. Well-suited off-the-shelf banking software is an effective option to drive this transformation.”
Temenos was most recently recognized as a leader in ‘The Forrester Wave : Digital Banking Processing Platforms, Q3 2020’ (Retail Banking and Corporate Banking) and previously in ‘The Forrester Wave™: Digital Banking Engagement Platforms, Q3 2019’.
The Global Banking Platform Deals Survey 2021 is an independent survey conducted annually by Forrester. It assesses both the volume and geographical spread of banking platform sales to new and existing customers for 2020 deals. The research is used by decision-makers at financial institutions around the world looking to effectively evaluate the plethora of banking software solutions available.
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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.