IBS Intelligence recognizes Temenos as the #1 Best-Selling Banking Software in Six Categories
By Joy Dumasia
Temenos has been recognized as the market’s leading open platform for composable banking in the IBS Intelligence Sales League Table (SLT). IBSi recognized Temenos as the leader in six categories, more than any other technology provider, including digital banking and channels, core banking and payments.
The IBSi SLT 2022 assessed systems purchases made by over 1000+ banks across 250+ products from 60 suppliers. Temenos was ranked:
- #1 best-selling Universal Banking – Core Banking solution with 49 new named deals, maintaining its market leadership with 49% of total deals in the market. Temenos was the only major core vendor to increase its market share year on year.
- #1 for Digital Banking and Channels – signing 79 deals, maintaining more than 50% market share in the Americas
- #1 in Payments Systems for retail banking, for the fourth consecutive year, with 43 new named deals
- #1 for Risk Management with 39 new name deals, 2X the number of deals of the next vendor
- #1 for Islamic Core Banking with 50% year-on-year growth at 11 new named deals
- #1 vendor for Digital Banks, Neobanks and Challenger Banks with 34 new named deals – 4X the next placed vendor
Temenos provides the world’s leading open platform for composable banking, allowing banks and financial institutions to easily assemble, test and extend their broad banking capabilities. This helps banks and non-banks to bring innovative products to market faster to meet growing customer expectations while reducing the cost of development. Temenos’ extensibility framework enables its clients to make high-impact changes predictably and with minimum effort using low code / no-code tools.
Temenos’ ongoing investment in R&D is reflected in the number of signings. IBS recognized Temenos as a global leader, with the largest number of global deals in 2021. These accolades follow results from the Forrester Global Banking Platform Deals Survey 2022, where Temenos was the only vendor recognized as a Global Power Seller with more than 50 New Named Deals in more than five regions.
Nikhil Gokhale, Head of Research, IBS Intelligence, said: “The core of the future will be a modular system, letting the bank’ change pieces’ easily, in a ‘plug and play’ manner and implemented in a cloud environment. This was evident in the new customer deal activity reported for the conventional back-office system categories during the last two years. The SLT 2022 report highlights that as banks move from legacy core banking systems, they opt for solutions on a micro level depending on their requirement rather than replacing their entire systems. The composable nature of Temenos’ platform is in line with this trend where financial institutions are looking to modernize their technology one step at a time.”
Max Chuard, CEO, Temenos, said: “We are delighted to be recognized as a best-selling banking software provider across six categories, more than any other technology provider, including neo-vendors and established players. We are proud to power a world of banking that creates opportunities for everyone and that 1.2 billion people rely on our technology for their daily banking needs. This impact is reflected in our continued success and recognition from industry experts like IBS Intelligence. Financial institutions need an open platform that provides scale, agility, and speed to respond to a changing world where digital transformation is imperative. This year’s Sales League Table shows yet again that Temenos is the strategic technology partner of choice for banks that want to transform the way they do business.”
IBSi Daily News Analysis
May 30, 2023
Are AI chatbots useful in fighting cyberattacks?Read More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage