Temenos AG (SWX: TEMN) is a company specialising in

enterprise software Enterprise software, also known as enterprise application software (EAS), is computer software used to satisfy the needs of an organization rather than individual users. Such organizations include businesses, schools, interest-based user groups, ...

for banks and

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

, with its headquarters in

Geneva, Switzerland Geneva ( ; french: Genève ) frp, Genèva ; german: link=no, Genf ; it, Ginevra ; rm, Genevra is the List of cities in Switzerland, second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaki ...

. Temenos was initially created in 1993, and has been listed on the Swiss stock exchange since 2001.

Company profile

Founded in 1993 and listed on the

Swiss stock exchange SIX Swiss Exchange (formerly SWX Swiss Exchange), based in Zurich, is Switzerland's principal stock exchange (the other being Berne eXchange). SIX Swiss Exchange also trades other securities such as Swiss government bonds and derivatives such as ...

(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. It claims to be used by 41 of the top 50 banks worldwide.

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 (1992), and continued to develop and market GLOBUS. In 2001, Temenos went public, and is listed on the main segment of the SWX Swiss Exchange (TEMN). Also in 2001, Temenos acquired a mainframe

core banking Core banking is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices. Core banking is often associated with retail b ...

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, 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. In 2011, George Koukis stepped down as

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

and became a

non-executive director A non-executive director (abbreviated to non-exec, NED or NXD), independent director or external director is a member of the board of directors of a corporation, such as a company, cooperative or non-government organization, but not a member of the ...

, and Andreas Andreades became chairman. In 2021, Temenos has launched a new collaborative

fintech Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are r ...

marketplace A marketplace or market place is a location where people regularly gather for the purchase and sale of provisions, livestock, and other goods. In different parts of the world, a marketplace may be described as a '' souk'' (from the Arabic), ' ...

, Temenos Exchange.

Acquisitions

References

{{Swiss Leader Index companies Software companies of Switzerland Banking software companies Financial software companies Companies based in Geneva Companies listed on the SIX Swiss Exchange Swiss brands Software companies established in 1993 Swiss companies established in 1993