David Arnott, CEO
For most banks, alignment of technology with their business objectives has remained a challenge. There is a burning need for the technology to be updated to meet the evolving regulatory requirements, monitor potential security risks, and ensure business continuity, along with offering better analytics and faster implementation features. In regard to such a scenario, Temenos [SWX:TEMN] is transforming retail banks’ businesses with its integrated banking software solutions, for banks of all sizes. The company helps process the daily transactions of more than 500 million banking customers, for more than 2000 firms worldwide, including 41 of the top 50 banks. Some of its clients include Bank of Shanghai, Credit Suisse, Nordea, and Sumitomo Mitsui Banking Corporation (SMBC).
The very essence of Temenos’ uniqueness is that it delivers solutions, which are open, extensible, scalable, and high performing. Built on an advanced architecture, Temenos’ RetailSuite solution offers a more convenient finance management option for its customers. RetailSuite, which can be run on a wide range of stacks, in any application server, is a combination of Temenos’ agile core banking platform and powerful analytics tools, distributed across all digital channels including mobile phones and personal computers.
By harnessing the data collected from the bank, the system helps in building a better understanding of their end consumers and developing products and services faster. RetailSuite comprises core banking, analytics and reporting, front office, risk and compliance, and payment functionalities. As a result, it delivers customer-centric banking, facilitating banks to remain competitive in the ever-changing retail banking landscape.
A componentized framework, which can be delivered in a multi-tenant or cloud-based setup, the solution enables flexibility and adoption of a progressive renovation approach, allowing agile implementation aligned with customers’ requirements.
Temenos is transforming retail banks’ businesses with its integrated banking software solution for banks of all sizes
Temenos continues to work toward development of its banking solutions according to its customer requirements, while it spends more than 20 percent of its sales on its R&D annually. These solutions, which ensure zero risks of obsolescence, are accessible to its customers through regular releases. Temenos also enables deployment of its solutions on a range of platforms, allowing its customers to keep their existing infrastructure. Aiming to help customers capitalize on ever-changing trends and opportunities while tackling emerging threats, Temenos continues to innovate toward reducing implementation risks and enabling a faster time-to-market. The company works with a large network of leading business and technology partners, including Accenture, HP, IBM, Oracle, and Microsoft.
With technologies like IoT, big data, and AI making their way into the global financial sector, more convenience in everyday transactions is expected, along with easier scalability, lower cost, and reduction in operational complexity for the banking institutions. Milestones like the recent recognition by Gartner as a leader in Magic Quadrant for Global Retail Core Banking 2017, for the eighth consecutive time, certainly proves Temenos’ path of continuous enhancement in the retail banking landscape. The key to driving higher profitability, the company believes, is its end-to-end, integrated solution. Offering the right products at the right time, Temenos helps its clients offer “experience-driven banking,” personalized for individual customers. The company’s core banking platform being the best-seller in the market for the last fifteen years promises its commitment toward delivering improved solutions to retail banks, with changing customer expectations, emerging competitors, and evolving technologies.