Survey from Forrester research shows that Temenos took considerable market share in 2013
Temenos Group (SIX: TEMN), the market-leading provider of mission-critical software to the financial services industry, today announces that Forrester Research has named it as both a ‘Global Power Seller’ and a ‘Top Global Player’ in its 2014 report, “Global Banking Platform Deals 2013”, to be published shortly.
The independent survey, conducted annually, assesses both the volume and the geographical spread of banking platform sales to new and existing customers. Forrester defines a banking platform as a “comprehensive, but basically modular, preintegrated set of banking applications that is designed to cover traditional areas of banking like retail and corporate banking.” In 2013, Forrester evaluated more than 1,630 deals submitted by 29 vendors to arrive at its rankings for new name and extended business sales.
For the 9th consecutive year, Forrester awarded Temenos the highest status of “Global Power Seller” in its ranking of sales to new name customers. In order to be named a “Global Power Seller”, vendors must record more than 35 new name deals across more than six regions of the world. Temenos was the only vendor to achieve the status of “Global Power Seller”.
In addition, Temenos was also the only vendor to be awarded the status of “Top Global Player” in respect of sales to both new and existing customers, with 124 deals, 8% higher than in 2012. To qualify as “Top Global Player” vendors must evidence at least 75 customer sales in a minimum of six regions. This is the second year that Forrester has examined both new and existing sales and the second year that Temenos has been the sole recipient of the “Top Global Player” award. Interestingly in 2013, no vendor achieved the secondary status of “Major Global Player”, for which it must achieve more than 50 deals in three regions whereas in 2012, three vendors held this status.
During a webinar to announce the findings, Jost Hoppermann, Vice President, Principal Analyst at Forrester noted: “Positions on the market are changing. Overall, the market grew by 4% but the top 10 vendors’ share of deals fell by 12%. The best performers were able to leverage existing good customer relationships to take market share.”
David Arnott, CEO of Temenos, commented: “We are delighted with the findings from this study, which underline the extent to which Temenos took market share in 2013, particularly against the largest vendors. We are the clear leader in banking platform sales with also the broadest geographical reach. This success owes to a broad set of solutions able to meet the banking industry’s needs for efficiency, agility, actionable analytics and cutting-edge multi-channel capabilities as it faces up to structural change in the form of changing customer behaviour, a changing competitive landscape and new regulation. We are confident we can consolidate further our leadership in 2014.”