Banking systems provider TEMENOS Group AG, reported $91 million new initial license fees (ILF) contracts for 2005. Signed contracts totaled $28 million in the fourth quarter, compared to US$ 19 million for the previous year, up 47%.
TEMENOS T24, one of the companys banking systems, grew at approximately 30% compared to last year, reaching $65 million, up from the $51 million it brought in for 2004.
More than 42% of the companys signings in 2005 were made with tier one and tier two financial institutions, compared with around 40% for 2004. In 2005 approximately 70% of signings were with retail and universal banks.
The company more than tripled signings in North and South America, compared to last year, and in EMEA where signings grew at close to 40%. In Asia Pacific, the companys TEMENOS T24 business more than doubled compared to last year. TEMENOS performance the last two years has resulted in a more balanced geographic distribution of its ILF signings with each of the Americas and Asia Pacific representing 17% of the mix. In 2004 they represented 6% and 25% respectively, and EMEA the balance at 65%.