14th consecutive year that T24 has held one of the top two positions
Temenos Group (SIX: TEMN), the market-leading provider of mission-critical systems to the financial services industry, today announces that IBS Intelligence has ranked TEMENOS T24, Temenos’ core banking solution, in the top position in its 2013 Sales League Table, which tracks new name software application sales across core banking and treasury and capital markets. This marks the 14th consecutive year that Temenos T24 has held one of the top two positions in the league table.
One of the most striking aspects of this year’s league table is Temenos’ performance relative to the market overall. While the number of deals overall fell by 11%, T24 recorded a 22% increase in deal volume. Temenos T24 won 33 new name core banking deals across a broad cross-section of the market, including at least one deal in every continent, and its sales were almost double the level of the second placed product. In 2012, only four vendors achieved more than 10 sales compared to six in 2011 and eight in 2007 pointing to a market that continues to consolidate around a small number of international vendors.
Commenting on the results, Ben Robinson, Head of Strategy and Marketing, said: "We are delighted to be once again top of the IBS league table. In the context of another year of contraction for our market, we achieved strong sales volume growth underlining market share gains and the extent to which we are pulling ahead of the competition. The results are testament to the strength and scalability of our business model, which is built on high R&D spending channelled into a concentrated suite of packaged and upgradable applications. Our business model ensures that our solutions remain technologically advanced at the same time as extremely functionally rich and is the reason why we are able to deliver the highest level of customer success in the industry. The results also demonstrate that, as Temenos has broadened its product and sales coverage into adjacent markets such as channels and business intelligence, we have lost none of our focus on core banking and, in fact, having a rich, multi-product offering is helping to drive core banking sales and underpin our market leadership.”
Martin Whybrow, Editorial Director of International Banking Systems Journal, stated: "Overall sales were down from 302 deals in 2011 to 269 deals in 2012. The market was especially subdued in Asia and Europe and really the only bright spot was Africa, which was the only region to see appreciably more sales in 2012 than 2011. Given that financial markets seem to stabilising, it may be surprising that the market did not bottom out in 2011. Part of the problem may be that banks are doing a lot of renovation work around the core, in channels for example, that may have meant that core renewal slipped down the priority list. It may also be the case that in a difficult economic environment, banks were still deferring the really big infrastructure projects. One possible sign of green shoots, however, is that the year finished very strongly, with December accounting for almost 20% of sales in the year.”