TEMENOS Group, the provider of integrated core banking systems, says that Forrester Research has placed TEMENOS in the Leaders category in its report, The Forrester Wave Core Banking Suites, Q1 2007. The report also found that TEMENOS T24, the company’s modular core banking application, received the highest score in terms of core banking functionality and installed base, with some 500 clients and 600 live sites.
TEMENOS scored 4.78 out of 5 in the core banking category, which reviewed areas such as bank and product management, bank support, sales, and product alignment. Forrester Research also highlights that TEMENOS T24 is one of the core banking systems to choose when multi-channel support is a very strong requirement.
Forrester Research selected vendors based on qualification criteria that included a forward-looking architectural approach, sound success in 2005, global delivery capability, and banking platform and core banking commitment. It then evaluated each against 88 criteria, grouped into current offering, strategy and market presence.
TEMENOS T24 is a modular banking system which offers multiple application server support.
“Having worked so hard to establish ourselves, this report is welcome recognition of our market position,” say Andreas Andreades, the CEO of TEMENOS. “With experience of working across the vertical markets, including retail, wholesale, universal and private banking, as well as Microfinance, we understand the differing needs of each. We continue to work with banks from the global tier 1s to smaller regional players, helping them benefit from our advanced technology and professional services offering.”