GENEVA--(BUSINESS WIRE)--Temenos (SIX: TEMN), the banking software company, today announced that BNP Paribas Securities Services has extended its license for Temenos Multifonds Global Accounting and Temenos Multifonds Global Investor. Temenos’ single, global software platform and integrated operating model will deliver localized accounting and reporting to underpin the management of BNP Paribas Securities Services’ fund administration operations.
BNP Paribas Securities Services has been a partner of Temenos for more than 20 years, initially deploying the Temenos Fund Administration platform in Luxembourg to replace its legacy architecture and deliver the fundamental scalability needed for BNP Paribas to rapidly onboard new countries onto the global platform. By using a scalable platform and enabling more automated exception-based processing, BNP Paribas Securities Services will benefit from greater operational efficiency, reduced costs and new growth opportunities.
As part of this long-standing strategic partnership, Temenos recently completed the integration of Temenos Multifonds Global Accounting into BNP Paribas Securities Services’ domestic fund administration business in France. Achieved in under two years, the project covered 1,300 fund accounts, representing over 20% of the total French market.
Alain Pochet, Head of Client Delivery at BNP Paribas Securities Services, commented: “We are delighted to continue this strategic, long-standing partnership with Temenos. Its investment in R&D means that we will continue to benefit from cutting-edge, next generation banking software, enabling us to enhance operational efficiency and streamline our operating model to enable us to quickly onboard new jurisdictions and grow our business over time.”
Max Chuard, CEO, Temenos, said: “It is a great privilege to continue our ongoing support of BNP Paribas Securities Services as they continue to optimize their global fund administration operations and enhance operational efficiency. Throughout this long-standing partnership, our goals have been consistently aligned to BNP Paribas’ who have adopted our market-leading products to enhance fund administration with sophisticated workflow, production and control techniques. With a 20-year track record for providing leading fund administration software that supports $7 trillion assets and more than 30,000 funds across 30 countries, Temenos has the blueprint for transformative software that delivers greater efficiencies, reduced costs and enables our clients to take advantage of future growth opportunities.”
– Ends –
About BNP Paribas
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.
Temenos AG (SIX: TEMN), headquartered in Geneva, is the world’s leader in banking software, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 500 million banking customers. Temenos offers cloud-native, cloud-agnostic front office and core banking, payments, fund management and wealth management software products enabling banks to deliver consistent, frictionless customer journeys and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve industry-leading cost-income ratios of 25.2% and returns on equity of 25.0%, 2X better than the industry average. These clients also invest over 53% of their IT budget on growth and innovation versus maintenance, which is 2.5X the industry average, proving the banks’ IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com.