Independent Research Firm Recognizes Temenos as a Leader in Digital Banking Processing Platforms for Corporate Banking Report

Rhea-AI Summary

Temenos has been recognized as a leader in the Forrester Wave report for Digital Banking Processing Platforms in both corporate and retail banking. The report highlights Temenos' open platform and AI-powered banking capabilities, noting its strong position in strategy and current offerings. With a modular system that adapts to various banking needs, Temenos supports over 3,000 banks globally, significantly enhancing operational efficiency and customer experiences. CEO Max Chuard emphasized the importance of flexible, cloud-native solutions for banks aiming to reduce costs and improve services.

Positive

• Recognized as a leader in Forrester Wave for corporate and retail banking.
• Received the highest score in strategy and second highest in current offerings.
• Supports operational efficiency with AI-powered banking capabilities.
• Serves over 3,000 banks, enhancing customer experiences and reducing costs.

Negative

• None.

According to the report, “Temenos sets the pace in AI-powered banking capabilities and application architecture” with a strategy that “shows no weak spots”

GENEVA, Switzerland--(BUSINESS WIRE)-- Temenos (SIX: TEMN) today announced that it has been recognized as a leader in The Forrester Wave™: Digital Banking Processing Platforms for Corporate Banking, Q3 2022. Temenos believes that its position as a leader reflects the advances in Temenos open platform for composable banking and the broad set of banking services that cover all areas of corporate banking. According to the Forrester report, “Temenos sets the pace in AI-powered banking capabilities and application architecture”. Temenos was also named a Leader in The Forrester Wave™: Digital Banking Processing Platforms for Retail Banking, Q3 2022 evaluation.

The corporate banking report, authored by Jost Hoppermann, Vice President and Principal Analyst, Forrester, notes: “The vendor’s [Temenos’] strategy shows no weak spots. […] The [Temenos] product roadmap includes the continuation of an overarching corporate banking rejuvenation program, AI-powered operations, and fine-grain banking services out of the cloud that are aligned with the concept of a lean core.” The report also states, “Its reference customers reported that the system is very modular, could satisfy almost any needs or requirements, and allows a bank to differentiate.”

This Forrester Wave™ evaluates the top 7 corporate banking platform vendors against 33 criteria, according to their current offering, strategy and market presence. Temenos received the highest score in the strategy category and the 2^nd highest score in the current offering category, which Temenos believes reflects its success in serving clients of all tiers to deliver corporate banking services such as Commerce Bank, Bank of Queensland, and Shanghai Commercial & Savings Bank (SCSB).

Max Chuard, Chief Executive Officer, Temenos, said: “We are proud to be recognized as a leader in the Forrester Wave report for corporate banking. Banks have a renewed focus on corporate growth and are seeking more agile, progressive renovation, targeting quicker gains at lower risk and cost – enabled by SaaS, microservices, and packaged banking capabilities. We believe this recognition as a leader by Forrester shows the maturity of our open platform for composable banking and market adoption. Helping clients of all sizes to reduce total cost of ownership, deliver higher service levels with reduced turnaround times and capture new revenue opportunities.”

According to the Forrester report on corporate banking: “Examples of the [Temenos] DBPP’s broad and rich capabilities include functionally rich AI-powered banking capabilities with a strong focus on explainable AI and a state-of-the-art application architecture that has been designed from the ground up to offer choice to banks.”

Temenos was also recently named a ‘Global Power Seller’ and ‘Top Global Player’ based on Forrester’s Global Banking Platform Deals Survey 2022 in the report, ‘Identify The Winners In A Consolidating Banking Platform Market To Make Informed Transformation Decisions.’

With Temenos’ open platform, clients can compose solutions based on granular banking capabilities across all areas of corporate banking including corporate lending, trade finance, payments and cash and liquidity management, with the addition of embedded analytics and compliance. It offers pre-composed, front-to-back solutions and clients and partners can create customized banking services themselves using a personalized sandbox. All these can be integrated with third-party solutions on Temenos Exchange, an ecosystem of pre-integrated fintech solutions. The platform is cloud-native and cloud-agnostic, offering the flexibility to run on-premise, on any private or public cloud, or as SaaS through the Temenos Banking Cloud.

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About Temenos

Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve over 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.

For more information, please visit www.temenos.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220906005567/en/

Media Contacts

Jessica Wolfe & Scott Rowe

Temenos Global Public Relations

Tel: +1 610 232 2793 & +44 20 7423 3857

Email: press@temenos.com

Alistair Kellie

Newgate Communications on behalf of Temenos

Tel: +44 20 7680 6550

Email: allnewgatetemenos@newgatecomms.com

Source: Temenos

FAQ

What did the Forrester Wave report say about Temenos?

The Forrester Wave report recognized Temenos as a leader in Digital Banking Processing Platforms for both corporate and retail banking, commending its advanced AI capabilities and strategic positioning.

When was Temenos recognized in the Forrester Wave report?

Temenos was recognized in the Forrester Wave report for Digital Banking Processing Platforms in Q3 2022.

What are the key strengths of Temenos according to the Forrester report?

The Forrester report highlights Temenos' strong strategy, AI-powered operations, modular system, and cloud-native platform as key strengths.

How does Temenos support its banking clients?

Temenos supports its banking clients by providing an open platform that enhances operational efficiency, reduces costs, and improves customer service.

Which banks are examples of Temenos' clients?

Examples of Temenos' clients include Commerce Bank, Bank of Queensland, and Shanghai Commercial & Savings Bank.