GENEVA, Switzerland--(BUSINESS WIRE)--Temenos (SIX: TEMN), the cloud banking platform, has been named a leader in The Forrester Wave™: Digital Wealth Management Platforms (DWMP) for Q1 2022.
Temenos received the highest scores in the strategy and current offering categories. The report states, “Temenos excels in most areas of product functionality…”, and “its innovation hub focuses on explainable AI/ML; environmental, social, and governance (ESG) capabilities; digital assets; and advanced analytics”.
The report, authored by Vijay Raghavan, Senior Analyst, Forrester, states: “Temenos’ wealth platform offers broad, off-the-shelf business capabilities along with access to a broad array of third-party fintech solutions. […] Temenos is a good choice for financial institutions worldwide looking for broad business capabilities, strong data and analytics, and a vendor with access to a global partner community and large marketplace of fintech solutions through its Temenos Exchange platform.”
According to the Forrester report, “Temenos stands out for its end-to-end digital wealth management capabilities. As one of the most established vendors in the DWMP space, Temenos’ knowledge of different markets has given it a diverse customer base in Europe, APAC, the Middle East, and Latin America, with a target of increasing market share in North America. Temenos excels in most areas of product functionality and has a roadmap and planned enhancements to ensure they will continue to do so.”
The Forester Wave™ evaluates the 12 most significant digital wealth management platform vendors against 27 criteria according to their current offering, strategy and market presence. Temenos received the highest possible score for various categories of the evaluation, including the Customer Experience, Execution Roadmap, Partner Ecosystem, and Planned Enhancements categories.
Max Chuard, Chief Executive Officer, Temenos, said: “We are proud of our leadership in this Forrester Wave, which is a testament to our continued investment in wealth management technology. With narrowing margins in retail, banks are focusing on wealth management in search of higher returns and business model diversification. The industry is also seeing a rapid change with a global generational transfer of wealth, steady growth of high-net-worth individuals, new asset classes, and new regulations. With superior digital customer experience, hyper-personalized services and highly automated processes powered by Temenos, these trends present real opportunities for wealth management firms to retain customers and attract a new generation of investors.”
Temenos believes that this position as a leader reflects Temenos’ commitment to wealth management and its global success serving some of the world’s largest wealth management firms. With Temenos Wealth solutions, banks can differentiate with hyper-personalized digital and human customer interactions. At the same time, wealth management firms can drive efficiencies through core automation and cloud technology.
– Ends –
Temenos AG (SIX: TEMN) is the world’s leader in banking software. 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 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com.