IBS Sales League tables confirm Temenos’ lead in high growth market
Temenos (SIX: TEMN), the software specialist for banking and finance, is the world’s leading provider of true front to back digital banking, and the first choice partner for banks offering them the best routes to digital renovation, according to the 2017 IBS Sales League Tables, which rank global sales to new customers.
The IBS league table shows Temenos as the number one best-selling digital and channels solution across the globe, with 30 deals in 2016, twice as many as the two next largest competitors. Temenos also remains number one best-selling core banking system with 43 deals in 2016, 60% more deals than the second best-selling core banking solution.
This year’s league tables clearly show a high growth market, with the total core banking deals sold up from 198 in 2015 to 224 in 2016*. This reflects a broad-based increase in demand for IT transformation with strong growth from developing markets in Asia and Middle East Africa, and also a very strong recovery in demand in Europe. Regulation is also driving the need for replacement technology platforms and upgrades, a trend supported by our recent report with The Economist Intelligence Unit.
Temenos’ ranking demonstrates a clear response to market demand, with a 26% increase in deals sold over 2015, and consistent year on year growth, through landmark deals Laurentian Bank in Canada, and Bank of Ireland.
In the risk management and payments system tables, Temenos ranks first place and second place respectively as a result of new deals for its Payments, Financial Crime, and Risk & Compliance solutions, further demonstrating consistent, global credibility and trust across the board.
Commenting on the results, Temenos CEO, David Arnott, said: “We are delighted to see Temenos top the new digital and channels sales league table, in addition to our consistent top position as best-selling core system provider. The 2017 IBS Sales League Tables clearly demonstrate banks realise that a complete front to back system is the essential prerequisite for a successful digital first strategy and that Temenos is the vendor of choice in this high growth market. The powerful combination of Channels to provide a differentiated front end, with integrated, efficient back office automation from Core Banking, has become the global benchmark for banks that want to build the right foundations to deliver the personalised experience their customers demand.”
* number calculated based on core banking deals only, excludes treasury and capital market, middle- and front- office wealth and pure lending lifecycle management solutions
Temenos Group AG (SIX: TEMN), headquartered in Geneva, is a market leading software provider, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 2,000 firms across the globe, including 38 of the top 50 banks, rely on Temenos to process the daily transactions of more than 500 million banking customers. Temenos customers are proven to be more profitable than their peers: in a seven year period, they enjoyed on average a 31% higher return on assets, a 36% higher return on equity and an 8.6 percentage point lower cost/income ratio than banks running legacy applications.