Temenos (SIX: TEMN), the software specialist for banking and finance, announced that industry analyst firm Gartner, Inc., has positioned Temenos as a Leader for the eighth consecutive time in the 2017 report ‘Magic Quadrant for Global Retail Core Banking’ (GRCB).
This report assessed 11 vendors based on the multicurrency products they offer in support of a bank’s financial transaction management in the retail banking market. Temenos is positioned furthest for completeness of vision based on the company’s market understanding, sales strategy, product strategy, vertical/industry strategy, geographic strategy and innovation. In the 2017 Magic Quadrant, Temenos achieves the furthest overall position for its completeness of vision. We believe this reflects our leading product innovation evidenced through our annual Innovation Jams and open banking platform, MarketPlace.
Vittorio D’Orazio, Gartner Research Director and author of the report, states: “The definition of a core banking system hasn’t shifted dramatically over the years. But a number of leading vendors are making progress in some areas that are becoming critical differentiators in the ways core banking functionality is delivered. These include the migration to component-based systems; the embryonic use of microservices, embedded analytics and cloud computing; and the shift to open banking platforms that integrate all stakeholders in a bank’s value chain — fintechs, technology partners, bank employees, clients and other banks.”
Temenos’ Core Banking combines rich functionality with cutting-edge technology in an easily upgradable application. Its customers benefit from real-time embedded analytics, a sophisticated product builder and technology that encourages open banking by creating an open environment where third-parties can cooperate and share. Temenos’ operational activities are strong with product updates provided to our customers in a regular and balanced manner. In 2016, with the help of our well-established partner programs, Temenos led the market in implementations, taking 178 financial institutions live on Temenos technology.
David Arnott, CEO, Temenos, said: “We are thrilled to be recognised for the eighth time in a row as a Leader in the Gartner GRCB Magic Quadrant. As we continue to differentiate from other players, we believe this report shows Temenos as the leader in our market. We further believe being recognized for our vision and product strategy establishes Temenos as the right partner for banks undertaking a transformation journey. We are proud to be working with the most successful banks and investing more in innovation.”