Temenos Group AG is a software company specializing in core banking

Core banking

Core banking is a general term used to describe the services provided by a group of networked bank branches. Bank customers may access their funds and other simple transactions from any of the member branch offices.- Core banking :...

 systems.

Company profile

Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group AG is a provider of banking software systems to retail, corporate, universal, private, Islamic and microfinance & community banks. Headquartered in Geneva and with more than 60 offices in 41 countries, Temenos serves over 1,000 financial institutions in more than 125 countries across the world.

According to IBS Intelligence, which maintains an annual league table, TEMENOS T24 has been the first or second best selling core banking solution for the last 12 years and in 2009 was the best selling solution for the third year in a row. Forrester Research ranks Temenos as one of only two global power sellers (Forrester Global Banking Platform Deals Report 2010) and Temenos has been the winner every year since its launch of the Best Core Banking Product in Banking Technology magazine’s Readers’ Choice Awards.

Temenos customers are alleged to be more profitable than their peers: analysis on data from The Banker1 – top 1000 banks supposedly shows that Temenos customers enjoy a 62% higher return on capital, a 54% higher return on assets and a cost/income ratio that is 7.2 points lower than non-Temenos customers.

History

The company was started in London in 1993. Later the company was acquired by George Koukis and renamed Temenos, in reference to a lecture on Money given by Hans-Wolfgang Frick at the Temenos Academy (1992). Temenos became therefore a swiss company.

2001: Temenos floated an IPO

Initial public offering

An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...

. It also acquired IRIS and introduced Temenos Core Banking (TCB)

2006: Temenos makes strategic acquisition of TLC Risk Solutions.

2007: Temenos expands German footprint with acquisition of ACTIS.BSP

2008: Temenos acquires partner Informer Group.

2008: Temenos acquired the London-based company Financial Objects Ltd in September 2008,

2008: Temenos acquires Lydian-Associates

2009: Temenos signed a partnership agreement with Cognizant

2009: Temenos makes largest acquisition to date by acquiring French company Viveo.

2010: Temenos signs further agreements with Deloitte and Capgemini

Capgemini

Capgemini is a French global IT services company, one of the world's largest management consulting, outsourcing and professional services companies with a staff of 114,274 operating in 40 countries. It is headquartered in Paris and was founded in 1967 by Serge Kampf, the current chairman, in...

.
2010: Temenos acquires Odyssey Financial Technologies.

2010: Inntron names Temenos as one of the Top 10 Core Banking System predictive vendors for Europe and Asia Pacific.

2011: George Koukis steps down as Chairman and becomes a Non-executive director

Non-executive director

A non-executive director or outside director is a member of the board of directors of a company who does not form part of the executive management team. He or she is not an employee of the company or affiliated with it in any other way...

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2011: Andreas Andreades steps down as CEO and becomes Chairman.

2011: Guy Dubois takes over as new CEO.

2011: Temenos partners Wipro on core banking ASP offering for European Banks.

2011: Temenos acquires Canadian Business Intelligence (BI) Provider Primisyn.