Temenos AG

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.

Temenos AG

Type	Public (SIX: TEMN)
Industry	Banking software Computer software Digital banking
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 Alexa Guenoun, COO
Products	Temenos Infinity - Digital Front Office Temenos Transact - Core Banking Temenos Payments Temenos Fund Administration Temenos SaaS
Revenue	$981 million (2019)^[1]
Number of employees	7,500 (2020)^[2]
Website	www.temenos.com

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.

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]

Acquisitions

Companies acquired by Temenos, listed by year

Year	Company	Country
2007	Actis.bsp^[9]	Germany
2008	Financial Objects Ltd^[10]	United Kingdom
2008	Lydian Associates Ltd^[11]	United Kingdom
2009	Viveo^[12]	France
2010	FE Mobile^[13]	United Kingdom
2010	Odyssey Financial Technologies^[14]^[15]	Luxembourg
2011	Primisyn^[16]	Canada
2012	Edge IPK^[17]	United Kingdom
2013	Trinovus^[18]	United States
2015	Akcelerant^[19]	United States
2015	Multifonds^[20]	Luxembourg
2017	Rubik Financial Limited ('Rubik')^[21]	Australia
2018	Avoka^[22]	United States
2019	Htrunk Software Solutions^[23]^[24]	India
2019	Logical Glue	United Kingdom
2019	Kony, Inc	USA / India

References

1. "Capital Markets Day 2020 Presentation" (PDF). Temenos. p. 139.
2. "Capital Markets Day 2020 Presentation" (PDF). Temenos.
3. "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. Retrieved 13 October 2017.
7. . temenos.com. Temenos Headquarters SA. 16 February 2011. Archived from the original on 4 May 2012. Retrieved 3 October 2017.
8. "Temenos Launches New Fintech Marketplace Temenos Exchange". Fintechnews. 28 November 2021. Retrieved 4 October 2022.
9. "Temenos buys German banking software outfit ACTIS.BSP". Finextra Research. 12 March 2007. Retrieved 13 October 2017.
10. "Temenos to acquire Financial Objects", Finextra, 3 July 2008, retrieved 9 June 2010
11. "Temenos Acquires Lydian Associates To Enhance Business Intelligence Modules | Global Custodian". www.globalcustodian.com. Retrieved 13 October 2017.
12. "Temenos buys rival core vendor, Viveo", IBS Journal, 6 January 2010, retrieved 9 June 2010
13. "FE-Mobile acquired by Temenos Group AG | Gibraltar". www.bcms.com. Retrieved 13 October 2017.
14. Finextra (28 September 2010). "Temenos agrees Odyssey acquisition". Finextra Research. Retrieved 13 October 2017.
15. . odyssey-group.com. Odyssey Group S.A. 27 September 2010. Archived from the original on 30 May 2014.
16. "Temenos buys Canadian BI software vendor Primisyn". Finextra Research. 27 July 2011. Retrieved 13 October 2017.
17. "Temenos Acquisition Adds New Front-End Software to Its Core Offerings | Bank Systems & Technology". Bank Systems & Technology. Retrieved 13 October 2017.
18. "Temenos expands U.S. footprint with TriNovus buy". Reuters. 22 March 2013. Retrieved 13 October 2017.
19. "Temenos purchases Akcelerant to accelerate growth in North America". Temenos. Retrieved 13 October 2017.
20. "BRIEF-Temenos Group acquires Multifonds for 235 mln euros". Reuters. 4 March 2015. Retrieved 13 October 2017.
21. "Temenos announces closing of Rubik acquisition and revises its 2017 outlook". Temenos. Retrieved 13 October 2017.
22. "Temenos acquires US-headquartered SaaS vendor Avoka to strengthen its leading Digital Front Office banking product". Temenos. Retrieved 12 December 2018.
23. "Temenos acquires hTrunk to accelerate its analytics and big data solutions". Temenos. Retrieved 22 February 2019.
24. "Temenos acquires Bangalore based big data firm hTRUNK". IBS Intelligence. 21 February 2019. Retrieved 22 February 2019.