Temenos announced Omdia, a leading technology analyst and consulting firm, recognized Temenos as a market leader in the report “Omdia Universe: Digital Banking Platforms, 2023”. Temenos achieved leadership status due to its comprehensive capabilities, solution breadth, strategy and product roadmap across functionalities such as onboarding, digital marketing, analytics, and digital banking. Download the report here.
Temenos Infinity is an AI-powered digital banking solution that helps banks acquire, service, retain and cross-sell on multiple channels and devices and deliver real benefits to consumers and businesses. The solution is part of the Temenos banking platform and its capabilities can be consumed separately or together with other Temenos banking capabilities. The capabilities are packaged which means they are upgradeable but allow the bank flexibility to innovate at the app level with low code/no code. Temenos provides its clients with the choice to run the platform themselves on-premise, in a hybrid environment, on the cloud or as a SaaS solution on Temenos Banking Cloud.
In the report, Temenos Infinity scored consistently well in all areas, thanks to a comprehensive platform that can be adapted for all types of financial institutions, including corporate, retail and private banks, incumbents and neobanks, in all geographies. This contributed to Temenos achieving the highest score for market presence, with clients of all sizes and regions from global tier-1s to new challengers. Banks choosing Temenos Infinity include Credem, one of the top 10 banks in Italy, Sacombank, one of the largest banks in Vietnam with over 15 million customers, United Bank Limited (UBL) serving more than 4 million customers, as well as a variety of banks across North and South America, from large banks to credit unions.
In the Omdia report, Temenos also achieved top scores for its solution capabilities and customer experience, with customer feedback praising the adaptability of the platform, the strong business benefits in terms of enabling new feature launches, and a superior user experience.
Philip Benton, Principal Analyst, Omdia, commented: “Despite an uncertain economic outlook, enhancing digital customer experience will be critical to incumbents and neobanks alike, with the need for banks to provide a fully digital journey. Digital banking is no longer seen as simply a channel but as the central interaction engine with which the customer engages the bank on a daily basis. The pace of technological advancement and increasing customer expectations mean that banks must incorporate and harness newer technologies quickly to remain competitive. Temenos offers banks the choice of opting for a full-featured digital banking engagement platform via Infinity, or they can choose to consume these capabilities as SaaS via Temenos Banking Cloud. Our research showed that Temenos supports banks in every region of the world and serves banks of all types. Infinity scored consistently well in all areas, thanks to a comprehensive platform that can be adapted for all types of bank or geography, which contributed to the vendor achieving the highest score for market presence. Vendors like Temenos should appear on your short list, particularly if you are seeking a platform that enables rapid new product launches and an excellent user experience.”
Prema Varadhan, President Product and COO, Temenos, said: “We are proud to be recognized as a leader by Omdia. With Temenos Infinity, banks can deliver the same kind of responsive experience as e-commerce brands and keep ahead of changing customer expectations. And with more than 850 clients, we have the scale to evolve the solution much faster than any competitor in the market.”
Temenos Infinity offers rich functionality for all retail, business, corporate and private banks as well as wealth management firms. It provides SaaS solutions for digital onboarding, origination and servicing to incumbents and non-incumbents which gives great agility while reducing time to market and improving cost efficiency. Temenos offers end-to-end solutions with Temenos Infinity and Transact core banking but gives banks choice through its composable architecture.
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