TEMENOS strengthens its position in IBS Sales League Table 2005
GENEVA, Switzerland – 2 March 2006: TEMENOS Group (SWX:TEMN), the provider of integrated core banking systems, today announced that International Banking Systems (IBS) places TEMENOS T24™ second in its Sales League Table 2005. The company has appeared in the top two positions of the league table for seven of the last eight years. In 2005, the report states that 32 new customers selected TEMENOS T24, an increase of 14% on last year with another two deals for TEMENOS™ COREBANKING. This now gives TEMENOS the largest core banking client base in the world with a stated 400 clients and 600 live sites.
Andreas Andreades, CEO, TEMENOS, says: "We have consistently excelled in the IBS league table and our ranking is confirmation of our exceptional achievements in the industry. 2005 saw our Initial Licence Fees (ILF) increase by 47% to US$ 91 million, and over two years we have grown by almost 80%. As the core banking market matures, we continue to invest in our products to ensure they meet the highest demands of our global client base."
The report counts number of new named clients and so placed Flexcube from i-flex Solutions first with six more deals than TEMENOS. However the report acknowledges that this does not take into account actual deal size, where TEMENOS T24 has an average deal size of US$ 2.7 million, compared to Flexcube of US$ 1.6 million. Infosys, another competitor in the TEMENOS target market, was ranked sixth with 13 new name deals.
As well as the 32 new clients listed in the report, a further 34 clients selected the ASP model with two deals for TEMENOSâ"¢ COREBANKING. New clients for TEMENOS came from every geographic region in retail, universal, wholesale and private banking sectors and included several central banks.
TEMENOS T24 is a functionally rich, thin client, scalable, integrated, modular banking system. It is built on an open architecture, and uses established standards such as HTTP, XML and J2EE. It offers a single client view across the enterprise and can support huge numbers of users with true non-stop resilience. It offers multiple application server support and is the only system available with no end-of-day batch processing and so can genuinely boast of providing real-time 24/7 non-stop banking.
TEMENOS COREBANKING is a modern, scalable retail banking platform that is capable of handling growing business volumes of the very largest banks worldwide. It offers all the functionality required by operations on this scale, but a greatly reduced cost of transactions and operations compared with other, less efficient solutions. Above all, TEMENOS COREBANKING is a multi-bank system in a single software image that enables banks to develop new products across many channels quickly and cost-effectively.
Andreades adds: "We've already got off to a strong start in 2006 with some significant deals in the pipeline. This year, we are set to further strengthen our product offering and continue to implement our growth strategy. We will not rest until we are the leading brand in financial services software."
The IBS Sales League Table is published by IBS Publishing, and is based on sales of technology systems to the banking sector. IBS Publishing is dedicated to the wholesale, retail and private back office systems market sector.
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