Temenos AG

Last updated

Temenos AG
Company type Public ( Aktiengesellschaft )
SIX:  TEMN
SMI MID component
Industry
Founded Geneva, Switzerland (1993, as Temenos Systems)
Headquarters
Geneva
,
Switzerland
Key people
  • Andreas Andreades, chairman
  • Andreas Andreades, CEO
  • Takis Spiliopoulos, CFO
  • Prema Varadhan, Chief Product and Technology Officer
Products
RevenueIncrease2.svg $981 million (2019) [1]
Number of employees
7,500 (2020) [2]
Website www.temenos.com

Temenos AG (SWX: TEMN) is a company specialising in enterprise software for banks and financial services, with its headquarters in Geneva, Switzerland. Temenos was initially created in 1993, and has been listed on the Swiss stock exchange since 2001.

Contents

Company profile

Founded in 1993 and listed on the Swiss stock exchange (SIX: TEMN), Temenos AG is a provider of banking software systems to retail, corporate, universal, private, treasury, fund administration, Islamic, microfinance and community banks. Headquartered in Geneva, Switzerland, and with 67 offices in 40 countries, Temenos serves over 3,000 financial institutions in 145 countries across the world. [3] [2] It claims to be used by 41 of the top 50 banks worldwide. [2] [3]

History

The company was started in November 1993, by George Koukis and Kim Goodall, having acquired the rights to GLOBUS, the successful banking software platform developed by a team of technical and banking experts in 1988. The company was renamed to Temenos, in reference to a lecture on money given by Hans-Wolfgang Frick at the Temenos Academy [4] (1992), and continued to develop and market GLOBUS.

In 2001, Temenos went public, [5] and is listed on the main segment of the SWX Swiss Exchange (TEMN). Also in 2001, Temenos acquired a mainframe core banking application aimed at high-end retail banks, originally developed by IBM, and now marketed as Temenos Corebanking.[ citation needed ]

On 30 September 2003, Temenos launched its T24 banking package. T24 was based on GLOBUS, [6] but with a state-of-the-art banking technology platform. This was the result of 3 years of development effort and an investment of more than US$24 million.[ citation needed ]

In 2011, George Koukis stepped down as chairman and became a non-executive director, [7] and Andreas Andreades became chairman.

In 2021, Temenos has launched a new collaborative fintech marketplace, Temenos Exchange. [8]

In February 2024, American short-selling firm Hindenburg Research released a report alleging "major accounting irregularities" at Temenos. [9] Temenos denied the allegations, and announced an independent review. [10] [11]

Acquisitions

Companies acquired by Temenos, listed by year
YearCompanyCountry
2007Actis.bsp [12] Germany
2008Financial Objects Ltd [13] United Kingdom
2008Lydian Associates Ltd [14] United Kingdom
2009Viveo [15] France
2010FE Mobile [16] United Kingdom
2010Odyssey Financial Technologies [17] [18] Luxembourg
2011Primisyn [19] Canada
2012Edge IPK [20] United Kingdom
2013Trinovus [21] United States
2015Akcelerant [22] United States
2015Multifonds [23] Luxembourg
2017Rubik Financial Limited ('Rubik') [24] Australia
2018Avoka [25] United States
2019Htrunk Software Solutions [26] [27] India
2019Logical GlueUnited Kingdom
2019Kony, IncUSA / India

Related Research Articles

Software AG is a German multinational software corporation that develops enterprise software for business process management, integration, and big data analytics. Founded in 1969, the company is headquartered in Darmstadt, Germany, and has offices worldwide.

SIX Swiss Exchange, based in Zürich, is Switzerland's principal stock exchange. SIX Swiss Exchange also trades other securities such as Swiss government bonds and derivatives such as stock options.

<span class="mw-page-title-main">Finastra</span> Software companies of the United Kingdom

Finastra is a financial software company headquartered in London, England. The company offers a portfolio of products and solutions to the retail banking, transaction banking, lending, and treasury capital markets. Finastra was formed in 2017 by the combination of London-based Misys, a provider of financial operations software, and global payments and lending technology provider D+H. At the time of its formation, Finastra was considered the third-largest financial services company in the world.

<span class="mw-page-title-main">Vermeg</span>

VERMEG is an international software group operating across several lines of B2B services: pensions & insurance, wealth & asset management, financial & security markets and Digital Financial Services. The company develops software used across the private banking sector, consumer finance, asset management companies, central banks, insurance and other financial services providers covering insurance policy administration, asset portfolio management, regulatory reporting, collateral management, post-trade processing, low code application development, business process management and risk management.

The Swiss Interbank Clearing (SIC) system is a mechanism for the clearing of domestic and international payments.

AnaCap Financial Partners ('AnaCap') is a private equity firm advising funds that invest in Software, Technology and Services within the European financial ecosystem.

Synechron Inc. is a New York-based information technology and consulting company focused on the financial services industry including capital markets, insurance, banking, cards & payments and digital.

OakNorth Bank is a UK bank for scaling businesses that provides loans and both business and personal savings accounts. The bank, which gained regulatory approval in early 2015, was founded by entrepreneurs Rishi Khosla and Joel Perlman, who had previously founded Copal Amba. The bank focuses on providing loans of £0.5m–£25m as well as savings accounts.

<span class="mw-page-title-main">Murex (financial software)</span> French financial company

Murex is a financial services company based in Paris (France), that provides financial software for trading, treasury, risk, and post-trade operations in financial markets.

Tandem Money is a company that owns Tandem Bank, one of the UK's original challenger banks. Tandem Bank is a digital bank with a mobile app, and no branches.

Gresham Technologies plc, known as Gresham Tech and formerly known as Gresham Computing plc, is a software and services company that specialises in providing real-time transaction control and enterprise data integrity solutions. Listed on the main market of the London Stock Exchange GHT and headquartered in the City of London, customers include some of the world's largest financial institutions, all of whom are served locally from offices located in Europe, North America and Asia Pacific.

<span class="mw-page-title-main">SumUp</span> Financial technology company

SumUp is a global financial technology company headquartered in London, United Kingdom. SumUp supports more than 3.5 million merchants in over 30 markets worldwide, and operates a product suite of tailor-made business tools created specifically for the micro and nano segment.

<span class="mw-page-title-main">Avaloq</span> Swiss banking software company

Avaloq is a Swiss company that develops and provides the Avaloq Banking Suite software for core banking.

<span class="mw-page-title-main">Meniga</span>

Meniga is a software company founded in Reykjavík, Iceland in 2009 by Georg Ludviksson and brothers Asgeir Asgeirsson and Viggo Asgeirsson.

Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as consumer-remittance platform Instarem in 2014. In 2016, the company introduced its B2B payments platform and rebranded as Nium in 2019, subsequently elevating Pratik Gandhi to co-founder in 2021.

<span class="mw-page-title-main">Kony, Inc.</span>

Kony Inc, a cloud-based provider of mobility, omnichannel and internet-of-things systems and services, was based in Austin, Texas with over 1600 employees worldwide. At the time of its sale to Temenos Group in 2019, Kony operated out of 11 offices in the US, UK, Germany, The Netherlands, Brazil, Mexico, India, Hong Kong, and Australia.

Entersekt is a Stellenbosch, South Africa-based fintech provider of mobile-based authentication and app security software protecting online and mobile banking and transactions.

Ohpen is a Dutch financial technology company that built the first core-banking platform in the cloud. Ohpen is a platform for mortgage/consumer lending origination and the administration of savings-, investment- and mortgage products. The company provides a cloud-based alternative for financial institutions such as banks, mortgage lenders, building societies and pension funds to legacy systems and processes. More than 300 people work at the company's Amsterdam headquarters and its offices in Antwerp, London, Barcelona, Bratislava and Zilina.

<span class="mw-page-title-main">Solaris (credit institution)</span> German banking-as-a-service credit institution

Solaris SE is a credit institution licensed in Germany, with headquarters in Berlin and branches in London, Paris, Milan, Madrid and Vilnius.

bunq International fintech company

bunq B.V. is a Dutch fintech and neobank licensed in the Netherlands within the European Union and operating in 30 European countries. It was founded in Amsterdam where its headquarters are currently located.

References

  1. ↑ "Capital Markets Day 2020 Presentation" (PDF). Temenos. p. 139.
  2. 1 2 3 "Capital Markets Day 2020 Presentation" (PDF). Temenos.
  3. 1 2 "REAL-WORLD FINTECH: Interim Report 2017" (PDF). temenos.com.
  4. ↑ "Temenos Academy Publications catalogue". www.temenosacademy.org.
  5. ↑ "Investor FAQs". Temenos. Retrieved 13 October 2017.
  6. ↑ "Temenos Globus / T24 Banking Package « WIKIBANKING dot INFO". www.wikibanking.info. 15 August 2012. Retrieved 13 October 2017.
  7. ↑ "Temenos Group announces CEO and Chairman succession plans". temenos.com. Temenos Headquarters SA. 16 February 2011. Archived from the original on 4 May 2012. Retrieved 3 October 2017.
  8. ↑ https://www.temenos.com/news/2021/11/24/temenos-presents-the-temenos-exchange-its-enhanced-open-marketplace-for-fintech-solutions/
  9. ↑ Louis Goss (15 Feb 2024). Temenos stock price dives as short-seller Hindenburg takes aim. Marketwatch via MSN.com, accessed 15 Feb 2024
  10. ↑ Kiderlin, Sophie (16 February 2024). "Hindenburg's latest short target Temenos rejects allegations as share price tumbles". CNBC. Retrieved 27 February 2024.
  11. ↑ Catelli, Allegra; Doenecke, Paula (19 February 2024). "Temenos Announces Independent Review of Hindenburg Claims". Bloomberg. Retrieved 26 February 2024.
  12. ↑ "Temenos buys German banking software outfit ACTIS.BSP". Finextra Research. 12 March 2007. Retrieved 13 October 2017.
  13. ↑ "Temenos to acquire Financial Objects", Finextra, 3 July 2008, retrieved 9 June 2010
  14. ↑ "Temenos Acquires Lydian Associates To Enhance Business Intelligence Modules | Global Custodian". www.globalcustodian.com. Retrieved 13 October 2017.
  15. ↑ "Temenos buys rival core vendor, Viveo", IBS Journal, 6 January 2010, retrieved 9 June 2010
  16. ↑ "FE-Mobile acquired by Temenos Group AG | Gibraltar". www.bcms.com. Retrieved 13 October 2017.
  17. ↑ Finextra (28 September 2010). "Temenos agrees Odyssey acquisition". Finextra Research. Retrieved 13 October 2017.
  18. ↑ "Odyssey Financial Technologies joins forces with Temenos". odyssey-group.com. Odyssey Group S.A. 27 September 2010. Archived from the original on 30 May 2014.
  19. ↑ "Temenos buys Canadian BI software vendor Primisyn". Finextra Research. 27 July 2011. Retrieved 13 October 2017.
  20. ↑ "Temenos Acquisition Adds New Front-End Software to Its Core Offerings | Bank Systems & Technology". Bank Systems & Technology. Retrieved 13 October 2017.
  21. ↑ "Temenos expands U.S. footprint with TriNovus buy". Reuters. 22 March 2013. Retrieved 13 October 2017.
  22. ↑ "Temenos purchases Akcelerant to accelerate growth in North America". Temenos. 10 February 2015. Retrieved 13 October 2017.
  23. ↑ "BRIEF-Temenos Group acquires Multifonds for 235 mln euros". Reuters. 4 March 2015. Retrieved 13 October 2017.
  24. ↑ "Temenos announces closing of Rubik acquisition and revises its 2017 outlook". Temenos. 22 May 2017. Retrieved 13 October 2017.
  25. ↑ "Temenos acquires US-headquartered SaaS vendor Avoka to strengthen its leading Digital Front Office banking product". Temenos. Retrieved 12 December 2018.
  26. ↑ "Temenos acquires hTrunk to accelerate its analytics and big data solutions". Temenos. 20 February 2019. Retrieved 22 February 2019.
  27. ↑ "Temenos acquires Bangalore based big data firm hTRUNK". IBS Intelligence. 21 February 2019. Retrieved 22 February 2019.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.