Temenos Only Vendor Rated Best-in-Class in Aite Matrix Evaluation of US Digital Banking Solutions
Temenos (SIX: TEMN), the banking software company, today announced that Temenos Infinity has been awarded "best-in-class" (the highest rating) in the Aite Matrix Evaluation: US Digital Banking Solutions of Core Providers. Temenos edged out six others as the only "best-in-class" vendor in the report. In its analysis, Aite-Novarica (previously Aite Group) recognized Temenos Infinity for its openness, ecosystem of integrated fintech solutions, conversational banking capability, and a forward-looking approach to financial wellness.
Aite-Novarica evaluated the top seven core banking providers in the US that offer a digital banking solution. Out of all the vendors evaluated, Temenos scored the highest in three out of four categories: vendor stability, client strength, and product features, and was joint highest for client services.
Temenos Infinity is available to any financial institution regardless of the core system they have in place. The solution uses APIs to support multiple vendor cores, internally built systems, or Temenos Transact.
David Albertazzi, Director, Retail Banking & Payments Practice, Aite-Novarica Group, commented: "Temenos finished ahead of the competition, demonstrating a strong balance of both vendor strength and product performance. The Temenos Infinity digital banking platform is both feature-rich and UX strong, has the ability to deliver a seamless end-to-end digital journey through a platform approach that connects legacy and fintech partners, and has a more forward-looking vision on financial wellness tools that enables it to stand out from its peers."
Max Chuard, Chief Executive Officer, Temenos, said: "This is a proud achievement that reflects the powerful capability of the Temenos Infinity platform and our commitment to customer success. Temenos Infinity is the world's best-selling digital banking platform used by over 650 financial institutions, from global tier one banks to digital challengers. Today's consumers expect the same kind of responsive experience for their banking needs as they get from the likes of Amazon and Netflix. We are seeing an acceleration in adoption in the US market and with Temenos Infinity, these banks can fulfill their customers' ever-increasing demands for digital services faster and at lower costs."
Temenos Infinity leads the market with groundbreaking innovations, benefitting from Temenos' industry-leading levels of R&D - 20% of annual revenue, more than twice the level of industry competitors. In the last 12 months, Temenos launched Temenos Infinity Virtual COO, a digital solution enabled by Explainable AI that provides data-driven insights and helps banks power SME growth. The company also announced its Micro Apps architecture, making it easier for banks to quickly create personalized digital experiences to serve specific segments, like families or students.
With digitalization an imperative for banks, Temenos Infinity helps banks succeed and grow. It drives exceptional, personal customer experiences by combining digital technology with a human touch. Its advanced analytics drives customer acquisition and digital banking engagement, enabling financial institutions to increase digital revenues 5x and cut customer onboarding time by 75%. Financial institutions that use Temenos Infinity report a 20% higher Net Promoter Score.
Temenos was also recently named a leader in two key reports - The Forrester Wave™: Digital Banking Engagement Platforms and Digital Banking Engagement Hubs evaluations for Q3 2021.
– Ends –
About Temenos
Temenos AG (SIX: TEMN) is the world's leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve 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 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks' IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com.
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Contact information
Media Contacts
Jessica Wolfe & Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email : press@temenos.com
Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
Email: allnewgatetemenos@newgatecomms.com
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