Temenos maintains position for fifth year running in 2013 International Retail Core Banking report
Temenos (SIX: TEMN), the leading provider of mission-critical solutions to the financial services industry, today announces that Gartner, the industry analysis company, has once again positioned Temenos within the leaders’ quadrant in its International Retail Core Banking (IRCB) Magic Quadrant report.
Gartner assesses vendors on the multi-currency products they offer in support of a bank’s financial transaction management in the retail banking market. According to the latest report, vendors identified as leaders “tend to possess high-order market understanding — they make it their business to monitor market trends, funnelling progressive innovation into their product road maps.”
Don Free, research director at Gartner and author of the IRCB Magic Quadrant, stated “The lack of agility and high cost of technology are driving banks to press the reset button on core banking systems…Core banking systems are becoming less operating platform- and database-dependent, creating overlapping market segments for the vendors and increased competitive conditions. This means more choices for banks.”
David Arnott, CEO of Temenos, said: “To be positioned within the leaders’ quadrant for the fifth consecutive year is testament to our long-term vision and commitment in delivering innovation and the highest levels of customer success. Focused only on financial services, our business model is built around out-investing the competition in research and development – across our focused product set - and recycling this development effort into packaged, regular, and easily upgradeable releases. This year we have released more new products than ever before, including TPS, our ground breaking payments hub, SocialComply, our social media monitoring and compliance solution, new versions of all of our existing products, enhancements to country model banks and the launch of the integration framework,making it possible to implement up to three times faster than before.”