About Temenos
The most open and secure cloud-native platform for composing, extending and deploying banking capabilities at scale
To be successful in the new era of digital banking and embedded finance, you need the right technology and the right platform for agility, scale and innovation.
Temenos open platform allows financial institutions to easily assemble, test and extend our broad banking capabilities and using our extensibility framework combine them with a vibrant ecosystem of fintech and partner solutions.
From day 1, Temenos separated the creation of new banking capabilities from the underlying technology. This meant we could deliver the richest functional capability, while ensuring use of the most modern and open technology – providing clients with freedom and flexibility.
We have a single platform on a single code and configuration base for all our customers. That means that every $ invested in our technology benefits every client. And we have unparalleled R&D investment - 20% R&D YoY and continue to invest. That’s $2.8bn of cumulative investment and in the next 3 years we will invest another $1.3bn.
Three years ago, Temenos accelerated the componentisation of its market leading banking software. By exposing the platform’s underlying banking capabilities as open API, event-driven microservices, Temenos helps banks adopt the latest technology, while benefitting from market leading functionality proven in over 150 countries.
Customers have freedom of choice in how they deploy Temenos banking solutions. Our software can be hosted on premise, or on any private or public cloud, or as SaaS on the Temenos Banking Cloud.
In 2022, a top 50 US Bank completed its core transformation with Temenos.
Other banks going live on the Temenos platform for core banking in the past 18 months include: Komerční banka, part of the Société Générale Group and one of the largest financial institutions in the Czech Republic; Arab Tunisian Bank, a leading bank in Tunisia and part of the Arab Bank Group, one of the largest financial institutions in the Middle East; and Next Bank, a new digital bank backed by Chunghwa Telecom, Taiwan’s largest telecom operator.
The trusted SaaS provider for 700 banks worldwide
The market has been changing and so has the way that banks consume software. They are moving to software-as-a-service (SaaS). Today, SaaS accounts for more than 40% of our software licensing business.
Temenos SaaS delivers the benefits of the cloud while enabling banks to focus on customer-centric innovation and take advantage of new opportunities like BaaS, on a continuously updated, secure and trusted service.
With Temenos Banking Cloud we moved our core platform to the cloud; unlike other technology vendors, we are not maintaining a new and a legacy product line.
Today, we have over 700 clients live on Temenos Banking Cloud across five continents, covering over 30 regulatory jurisdictions, with a bank going live on our SaaS platform on average every 10 days.
Though our certifications which are the highest in the market. In 2023, Temenos earned the Trusted Cloud Provider trustmark from the Cloud Security Alliance (CSA), the global leading cloud security organization.
Temenos is one of only 30 technology providers globally to date, who collectively achieved the STAR Level 1, STAR Level 2 attestation and the Trusted Cloud Provider mark.
Banks going live with core banking SaaS on Temenos Banking Cloud in the past year include Bank of Queensland and Virgin Money in Australia. Alpian, Switzerland’s first digital private bank, and Saudi Export-Import Bank.
Our proven, highly scalable SaaS model together with robust localization is compelling for banks and financial institutions of all sizes.
Among the many new SaaS signings this year, include a top 30 US bank, which selected Temenos Banking Cloud to modernize its legacy systems for customers’ records and deposits.
Canadian Tire Bank, part of the largest Canadian retail companies, selected Temenos Banking Cloud to accelerate its core modernization. Moving to a SaaS model will enable the bank to deploy banking services more easily and launch new products faster to give customers seamless and more personalized experiences.
Aayaz Pira, President, Canadian Tire Financial Services and CEO, Canadian Tire Bank, said: “The move to Temenos Banking Cloud will accelerate our digital transformation to advance our digital banking capabilities in service of further integration across Canadian Tire Corporation’s retail brands and its millions of active loyalty members.”
AI-powered banking solutions
Temenos is the first to bring transparency and explainability of AI automated decision making to the banking industry. Our patented Explainable AI platform and machine learning capabilities are embedded in the Temenos platform and available with all Temenos software through an easy-to-use interface or APIs.
With Temenos’ AI-powered technology, banks can innovate faster, create new business models and future-proof their business. In July 2023, Atradius, a Temenos client and one of the largest trade credit insurance providers in the world, won the IBS Intelligence Global Fintech Innovation award for Best Risk Management Implementation for its innovative use of AI and machine learning using Temenos Explainable AI to reduce risk and improve the customer experience.
Global compliance support
As the market-leader serving 3,000 customers across Retail, Business, Corporate, Private Banking and Wealth Management segments, Temenos has proven support and coverage for regulatory compliance needs of banks in terms of banking and SaaS operations globally.
Unparalleled scalability
This year, Temenos set a new high-water benchmark for Temenos Banking Cloud on Microsoft Azure. In the test, Temenos Banking Cloud processed 200 million embedded finance loans and 100 million retail accounts at a record-breaking 150,000 transactions per second.
A global payments distruptor launched its Buy Now Pay Later on the Temenos Banking Cloud and has issued more than 200 million loans to 30 million customers since 2020.
Embedded finance and Banking-as-a-Service
The Temenos Open Platform for Composable Banking has the breadth and depth of functionality from product engines to financial crime, payments and origination that enables banks or license holders to not only run their own business but also provide BaaS to brands with the same underlying platform.
Leaner and greener
Banks running on Temenos Banking Cloud benefit from more than 95% lower carbon emissions over traditional on-premise applications. Temenos is also helping clients measure, improve and report on their carbon footprint of their operations with the Carbon Emissions Calculator, a first in the industry. In addition, our code is becoming more efficient every year: by 32% in latest release - audited by GoCodeGreen.
Flowe is a purpose driven mobile-only bank that makes it easy for Italians to manage their money while also protecting the planet. With Temenos, Flowe was able to scale to scale efficiently to nearly 700,000 customers in just six months.
Marco Segato, Head of Augmented Intelligence at Flowe, stated: “By running Temenos on the cloud, we have been able to avoid emissions amounting to 87 metric tons of CO2 in 2022 alone. The cloud model is the most effective way for us for reduce our CO2 emissions and has enabled us to achieve carbon neutral status.”
Proven business value
The Temenos Value Benchmark is an Industry-leading program with insights from over 135 banks and 65,000 data points to help banks optimize their technology investments and boost profitability.
An analysis of the data collected to date, highlights that our top-performing clients already achieve industry-leading 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 over 51% of their IT budget on growth and innovation rather than on maintenance, which is double the industry average.
Industry Recognition for Temenos core banking platform
In 2023, IBS Intelligence ranked Temenos #1 for core banking in its Annual Sales League Table, for the 18th consecutive year.
The IBSi Sales League Table assessed systems purchases made by over 500 banks and financial institutions across 170 products from 57 vendors across the Americas, Europe, Middle East, Africa, and APAC.
In Q3 2022, Temenos was also named a leader in The Forrester Wave™ for Digital Banking Processing Platforms for Retail Banking and Corporate Banking.
The Forester Wave™ evaluated the top 10 retail banking platform vendors and the top 7 corporate banking platform vendors against 33 criteria, according to their current offering, strategy and market presence.
According to the Forrester reports, “Temenos sets the pace in Digital Banking Processing Platforms (DBPP) functionality, application architecture, and lean core” with a strategy that “shows no weak spots”.