Temenos Group (SWX: TEMN), the provider of integrated core banking systems, today announced that IBS Publishing has ranked Temenos T24™ (T24) in second place in its Sales League Table 2006 in the universal banking category. Take up for T24 saw a 25% increase in 2006 with 40 new clients, giving it a customer-base of 440 banks in this category, the largest of any core banking product. The report also records one sale of Temenos™ CoreBanking (TCB) with a retail client base of 79.
Temenos has appeared in the top two positions of the league table for eight of the last nine years. Andreas Andreades, CEO, Temenos, says: “Our consistency in serving our industry over the past 10 years has been recognised with our placing in the IBS league report. I personally want to thank all our clients that have placed their trust in us for their commitment and support. The strong revenues yielded from our growing raft of tier 1 and 2 wins ensure that we’re able to invest 20% of turnover in R&D, a higher rate than any of our competitors. That we can then roll out this rich functionality to our entire client base gives us our unique business model.”
During the past two years, Temenos has announced eight tier 1 wins with banks such as Deutsche Bank, Fortis and Sumitomo Mitsui Banking Corporation.
Having the largest client base across all banking verticals has put Temenos in the best position to launch Temenos Model Bank in 2006. Temenos Model Bank delivers T24 with mostly pre-configured, pre-parametered features and incorporates a global best practice standard that achieves 50% lower implementation time frames. Temenos Model Bank and the associated implementation methodology minimises customisation, reduces costs and also brings tighter controls over project scope and deliverables. The overall result is a quick and safe implementation.
T24 is a functionally rich, thin client, scalable, integrated, modular banking system. It is built on open service oriented architecture, and uses established technology standards such as HTTP, XML and HTML. It offers a single client view across the enterprise and can support large numbers of users with true non-stop resilience. Its fully-integrated architecture enables it to offer a significant cost advantage compared to other competing products. It offers multiple application server support and is the only system available with no end-of-day batch processing and so can genuinely boast of providing real-time 24/7 non-stop banking.
TCB is a modern, scalable retail banking platform that is capable of handling mass-scale business volumes of the very largest banks worldwide. It offers all the functionality required by operations on this scale, but at a greatly reduced cost of transactions and operations compared with other, less efficient solutions. Above all, TCB is a multi-bank system in a single software image that enables banks to develop new products across many channels quickly and cost-effectively.
Andreas Andreades adds: “With 2006 licence revenues of US$97.9 million, up 52% on the previous year, we’ve started this year on an exceptional note. We are now continuing to focus on delivering value to our customers across each of the banking sectors with our advanced technology and professional services offering.”
The IBS Sales League Table is published by IBS Publishing and is based on sales of technology systems to the banking sector. IBS Publishing, www.ibspublishing.com, is dedicated to the wholesale, retail and private back office systems market sector.