According to the report, “Temenos sets the pace in AI-powered banking capabilities and application architecture” with a strategy that “shows no weak spots”
Temenos announced that it has been recognized as a leader in The Forrester Wave: Digital Banking Processing Platforms for Corporate Banking, Q3 2022. Temenos believes that its position as a leader reflects the advances in Temenos open platform for composable banking and the broad set of banking services that cover all areas of corporate banking. According to the Forrester report, “Temenos sets the pace in AI-powered banking capabilities and application architecture”. Temenos was also named a Leader in The Forrester Wave™: Digital Banking Processing Platforms for Retail Banking, Q3 2022 evaluation.
“The vendor’s [Temenos’] strategy shows no weak spots. […] The [Temenos] product roadmap includes the continuation of an overarching corporate banking rejuvenation program, AI-powered operations, and fine-grain banking services out of the cloud that are aligned with the concept of a lean core.”
The corporate banking report, authored by Jost Hoppermann, Vice President and Principal Analyst, Forrester, notes: “The vendor’s [Temenos’] strategy shows no weak spots. […] The [Temenos] product roadmap includes the continuation of an overarching corporate banking rejuvenation program, AI-powered operations, and fine-grain banking services out of the cloud that are aligned with the concept of a lean core.” The report also states, “Its reference customers reported that the system is very modular, could satisfy almost any needs or requirements, and allows a bank to differentiate.”
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This Forrester Wave™ evaluates the top 7 corporate banking platform vendors against 33 criteria, according to their current offering, strategy and market presence. Temenos received the highest score in the strategy category and the 2nd highest score in the current offering category, which Temenos believes reflects its success in serving clients of all tiers to deliver corporate banking services such as Commerce Bank, Bank of Queensland, and Shanghai Commercial & Savings Bank (SCSB).
Max Chuard, Chief Executive Officer, Temenos, said: “We are proud to be recognized as a leader in the Forrester Wave report for corporate banking. Banks have a renewed focus on corporate growth and are seeking more agile, progressive renovation, targeting quicker gains at lower risk and cost – enabled by SaaS, microservices, and packaged banking capabilities. We believe this recognition as a leader by Forrester shows the maturity of our open platform for composable banking and market adoption. Helping clients of all sizes to reduce total cost of ownership, deliver higher service levels with reduced turnaround times and capture new revenue opportunities.”
According to the Forrester report on corporate banking: “Examples of the [Temenos] DBPP’s broad and rich capabilities include functionally rich AI-powered banking capabilities with a strong focus on explainable AI and a state-of-the-art application architecture that has been designed from the ground up to offer choice to banks.”
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Temenos was also recently named a ‘Global Power Seller’ and ‘Top Global Player’ based on Forrester’s Global Banking Platform Deals Survey 2022 in the report, ‘Identify The Winners In A Consolidating Banking Platform Market To Make Informed Transformation Decisions.’
With Temenos’ open platform, clients can compose solutions based on granular banking capabilities across all areas of corporate banking including corporate lending, trade finance, payments and cash and liquidity management, with the addition of embedded analytics and compliance. It offers pre-composed, front-to-back solutions and clients and partners can create customized banking services themselves using a personalized sandbox. All these can be integrated with third-party solutions on Temenos Exchange, an ecosystem of pre-integrated fintech solutions. The platform is cloud-native and cloud-agnostic, offering the flexibility to run on-premise, on any private or public cloud, or as SaaS through the Temenos Banking Cloud.
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