Jones brings to Temenos over 17 years of banking software experience, in-depth knowledge of the retail banking landscape and a proven leadership track record. Prior to Temenos, Jones worked at Misys where he held two senior positions, most recently General Manager for its Universal Banking division. Within this role, he was responsible for driving the acquisition, development and global market roll out of BankFusion, its universal banking solution. Prior to this, he held the role of Product Management and Marketing Director for Misys' Retail Banking Systems division. Previously, Jones spent 14 years at Fiserv holding a number of roles including VP of International Sales and VP of Solutions Management for the company's CBS Division.
Commenting on his new role, Jones says: "My responsibility will be to focus on building T24's presence amid larger retail banks globally. This is a very exciting role as clearly T24 Model Bank has already been making excellent headway in the retail banking sector, with large retail operations like Bank of Shanghai going live to support over ten million customer accounts. What is more, Temenos is one of the market leaders in the core banking sector and continuing to grow very strongly, underpinned by consistently much higher R&D investment than its competitors, a well defined retail banking growth strategy and strong global execution. I look forward to driving and executing this strategy for continued growth and profitability."
Jones will report to Mark Gunning, Group Strategy Director and will be based in the company's London office.
Andreas Andreades adds: "I am delighted to welcome Gareth to Temenos during such an exciting time for the company. With his vast retail banking experience, I am fully confident that he will bring real value to our aggressive growth plans for this sector. With retail banking becoming the cornerstone of most banks' funding strategies, we are in an excellent position to assist banks to deliver on this strategic objective while fundamentally changing the cost of ownership and cost per transaction through our package approach."
In the twelve months to 30 September 2008, its most recent reporting date, Temenos achieved USD168.5m million in license revenue and USD410.0million in total revenue, representing increases of 35% and 45% on the previous twelve months, respectively. Temenos continues to enjoy strong growth across all regions thanks to superior products and services and a compelling investment and product roadmap, the outcome of its high R&D investment, which at around 20% of revenues each year, which is significantly ahead of peers.
T24 Model Bank is a front-to-back office packaged core banking software that provides banks with unparalleled richness in functionality on an integrated Service Orientated Architecture (SOA), T24 Model Bank includes pre-configured, industry best practices for each banking sector, enabling banks to optimise 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. T24 is now confirmed through recently reported Temenos/IBM performance testing as a core banking system comfortably capable of servicing the needs of banks ranging from small to in excess of 25 million accounts.
T24 incorporates modern technology including a comprehensive (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.