HSBC partners with TEMENOS for international banking solution

Geneva, Switzerland – August 25, 2005, TEMENOS Group AG (SWX:TEMN), a provider of integrated core banking software, today announced that HSBC has selected TEMENOS as its partner to co-develop its next generation of international core banking software. HSBC and TEMENOS will combine their technology resources to build HSBC's new international banking platform, based on the onward development of the Java version of TEMENOS CoreBanking™. The two parties are looking forward to integrating their extensive international banking software development experience into the joint venture. The agreement was signed in London between both parties on August 8.

With $1,467 billion in assets, HSBC is one of the world’s largest banking and financial services organizations serving over 110 million customers, across 77 countries. This partnership will realize the core banking technology component of a much broader initiative to reengineer the bank’s existing HSBC Universal Banking system currently deployed in 63 countries.

Ken Harvey, Group CIO of HSBC says: "HSBC is very selective about partnerships with external suppliers. Only those that can complement our global reach and that are at the leading edge of software development are chosen. After an extensive review, we believe that the next generation of core banking software is yet to be developed and that TEMENOS is well positioned to lead this market."

Andreas Andreades, CEO of TEMENOS says, "We are delighted that HSBC has selected TEMENOS and TEMENOS CoreBanking as its preferred solution for the future. Both companies share the view that we are forming a true business partnership and look forward to working together to build the next generation of core banking software. TEMENOS CoreBanking has rapidly become the solution of choice for large banks requiring high volume core processing solutions to replace solutions based on older proprietary technologies. This relationship, based on forward development of Java TEMENOS CoreBanking will embrace the latest technologies to ensure both HSBC’s and TEMENOS’ continued, significant and profitable competitive advantage. We are proud to announce this relationship with HSBC Group."

TEMENOS consistently ranks among the leading core banking providers, and has appeared in the top two positions of the International Banking Systems sales league table for six of the last seven years. In 2004, TEMENOS was ranked the international leader in terms of the value of new licensing deals.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development