Temenos Named a Leader in Digital Wealth Management Platforms by Independent Research Firm

Rhea-AI Summary

Temenos has been recognized as a leader in The Forrester Wave™: Digital Wealth Management Platforms for Q1 2022, receiving top scores in strategy and current offering. The report highlights Temenos for its comprehensive product functionality, innovation in AI, ESG capabilities, and a robust partner ecosystem through its Temenos Exchange platform. With a strong global presence and plans for increased market share in North America, Temenos aims to capitalize on growing wealth management opportunities driven by changing demographics and technological advancements.

Positive

• Named a leader in The Forrester Wave™: Digital Wealth Management Platforms for Q1 2022.
• Received highest scores in strategy and current offering categories.
• Strong product functionality and innovative capabilities in AI and ESG.
• Diverse global customer base with expansion plans in North America.

Negative

• None.

Temenos positioned the furthest for its wealth management product strategy and strength of its offering

GENEVA, Switzerland--(BUSINESS WIRE)-- Temenos (SIX: TEMN), the cloud banking platform, has been named a leader in The Forrester Wave™: Digital Wealth Management Platforms (DWMP) for Q1 2022.

Temenos received the highest scores in the strategy and current offering categories. The report states, “Temenos excels in most areas of product functionality…”, and “its innovation hub focuses on explainable AI/ML; environmental, social, and governance (ESG) capabilities; digital assets; and advanced analytics”.

The report, authored by Vijay Raghavan, Senior Analyst, Forrester, states: “Temenos’ wealth platform offers broad, off-the-shelf business capabilities along with access to a broad array of third-party fintech solutions. […] Temenos is a good choice for financial institutions worldwide looking for broad business capabilities, strong data and analytics, and a vendor with access to a global partner community and large marketplace of fintech solutions through its Temenos Exchange platform.”

According to the Forrester report, “Temenos stands out for its end-to-end digital wealth management capabilities. As one of the most established vendors in the DWMP space, Temenos’ knowledge of different markets has given it a diverse customer base in Europe, APAC, the Middle East, and Latin America, with a target of increasing market share in North America. Temenos excels in most areas of product functionality and has a roadmap and planned enhancements to ensure they will continue to do so.”

The Forester Wave™ evaluates the 12 most significant digital wealth management platform vendors against 27 criteria according to their current offering, strategy and market presence. Temenos received the highest possible score for various categories of the evaluation, including the Customer Experience, Execution Roadmap, Partner Ecosystem, and Planned Enhancements categories.

Max Chuard, Chief Executive Officer, Temenos, said: “We are proud of our leadership in this Forrester Wave, which is a testament to our continued investment in wealth management technology. With narrowing margins in retail, banks are focusing on wealth management in search of higher returns and business model diversification. The industry is also seeing a rapid change with a global generational transfer of wealth, steady growth of high-net-worth individuals, new asset classes, and new regulations. With superior digital customer experience, hyper-personalized services and highly automated processes powered by Temenos, these trends present real opportunities for wealth management firms to retain customers and attract a new generation of investors.”

Temenos believes that this position as a leader reflects Temenos’ commitment to wealth management and its global success serving some of the world’s largest wealth management firms. With Temenos Wealth solutions, banks can differentiate with hyper-personalized digital and human customer interactions. At the same time, wealth management firms can drive efficiencies through core automation and cloud technology.

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About Temenos

Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.

Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20220404005859/en/

Jessica Wolfe & Scott Rowe

Temenos Global Public Relations

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

Email : press@temenos.com



Alistair Kellie & Andrew Adie

Newgate Communications on behalf of Temenos

Tel: +44 20 7680 6550

Email: allnewgatetemenos@newgatecomms.com

Source: Temenos

FAQ

What did Temenos achieve in The Forrester Wave™ report?

Temenos was named a leader in The Forrester Wave™: Digital Wealth Management Platforms for Q1 2022.

What categories did Temenos excel in according to Forrester?

Temenos received the highest scores in strategy and current offering categories.

What market does Temenos aim to expand into?

Temenos aims to increase its market share in North America.

What are Temenos' strengths as highlighted by Forrester?

Temenos excels in product functionality, AI innovation, and provides access to a global partner ecosystem.

How does Temenos support wealth management firms?

Temenos offers hyper-personalized digital services and efficiencies through core automation and cloud technology.