The report states that TEMENOS ââ¦offers the strongest overall core banking functionality, without particular functional weak spots. TEMENOS also scored best on international versatility: If a bank needs a strong core banking solution that can comprehensively support multiple languages and character sets in terms of presentation and storage or that needs a strong Islamic banking offering, TEMENOS is one of the core banking vendors to short-listâ¦â
TEMENOS scored 4.78 out of 5 in the core banking category, which reviewed areas such as bank and product management, bank support, sales, and product alignment. Forrester Research also highlights that TEMENOS T24 is one of the core banking systems to choose when multi-channel support is a very strong requirement.
Forrester Research selected vendors based on qualification criteria that included a forward-looking architectural approach, sound success in 2005, global delivery capability, and banking platform and core banking commitment. It then evaluated each against 88 criteria, grouped into current offering, strategy and market presence.
TEMENOS 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.
Andreas Andreades, CEO, TEMENOS, comments: âHaving worked so hard to establish ourselves, this report is welcome recognition of our market position. With experience of working across the vertical markets, including retail, wholesale, universal and private banking, as well as Microfinance, we understand the differing needs of each. We continue to work with banks from the global tier 1s to smaller regional players, helping them benefit from our advanced technology and professional services offering.â