The European Banking Technology Awards reflect excellence across a range of IT activities in banking and financial services, and highlight the growing trend among financial institutions for selecting packaged software solutions from independent technology providers rather than costly in-house developments. A total of 2000 votes were cast for The Readers' Choice Awards and Temenos was recognised as the best vendor of core banking systems in the market.
At the awards gala dinner at the Grosvenor House Hotel, in London, where 500 guests from leading financial institutions and technology suppliers were present, David Bannister, editor of Banking Technology commented:
"This is the second year we have run The Readers' Choice Awards and the second time that Temenos has won. We congratulate Temenos on this achievement and we wish them best of luck for the year ahead."
Andreas Andreades, CEO of Temenos, said: "We are excited to have won this prestigious award for the second year running. Not only have readers honoured us with their votes, but banks have been voting with their budgets as our continued strong results suggest. Temenos invests approximately 20% of revenues in research and development, significantly ahead of our peers, ensuring that T24 remains at the pinnacle of the core banking market. Our packaging approach ensures that we derive maximum return from our R&D investment, enabling us to deliver superior functionality, immense scalability and lower cost of ownership for our clients, eliminating any technology obsolescence risk".
T24 Model Bank is a packaged core banking software that provides banks with unparalleled richness in functionality on an integrated, service orientated architecture with support from front to back office. T24 Model Bank includes pre-configured, industry best practices for each banking sector, enabling banks to optimize operations and processes while remaining agile, flexible and responsive to business change. Its highly automated implementation approach delivers short implementations with a rapid and measurable return on investment. Fully integrated CRM and business intelligence capabilities provide a high degree of customer intimacy and a clear and deep understanding of the enterprise including its risk and performance. Its scalability, as underlined by recently reported Temenos/IBM performance tests, means T24 is capable of servicing of banks ranging from small to up to 25million accounts.
T24 incorporates modern technology including a comprehensive Service Orientated Architecture (SOA). It's also fully enabled for standard SOAP (Simple Object Access Protocol) web services, and BPEL process execution. T24 is compliant with industry leading ESBs (Enterprise Service Buses) and can be deployed on fully scalable, multi-server n-tier architecture. It provides a full front-to-back solution from electronic delivery channels such as mobile devices and internet banking right through to settlement, general ledger and other back office functions. This is delivered in a fully integrated, reliable and cost effective environment. Temenos' total commitment to open standards enables its customers to benefit from the latest advances in technology ensuring business agility, continuity, data integrity and reduced downtime delivering a significant, immediate and ongoing return on investment.