With 850 clients using digital banking, Temenos was recognized as the vendor with the strongest market presence. These clients range in size and geographic location.
Temenos was named a market leader by Omdia, a renowned technology analyst and consultancy organization, in the publication “Omdia Universe: Digital Banking Platforms, 2023.” Temenos’ extensive capabilities, solution breadth, strategy, and product roadmap across functionalities like onboarding, digital marketing, analytics, and digital banking helped them gain leadership status. Here is a link to the report.
Temenos Infinity is a digital banking solution powered by AI that enables banks to acquire, service, retain, and cross-sell customers across different channels and devices while providing substantial advantages to individuals and companies. The solution is a component of the Temenos banking platform, and its features can be used independently or in tandem with those of other Temenos banking features. Because the capabilities are packaged, they may be upgraded while still giving the bank the freedom to innovate at the level of the app with low or no code. Temenos offers its customers the option of using the platform on-premises, in a hybrid environment, in the cloud, or as a SaaS solution on Temenos Banking Cloud.
Thanks to a comprehensive platform that can be customized for all sorts of financial institutions, including corporate, retail, and private banks, incumbents, and neobanks, across all regions, Temenos Infinity continuously received high marks in the report. As a result, Temenos received the highest rating for market presence, with customers ranging in size and location from global tier-1s to up-and-coming challengers. Several banks in North and South America, ranging in size from large banks to credit unions, have chosen Temenos Infinity, including United Bank Limited (UBL), which serves more than 4 million customers, Credem, one of the top 10 banks in Italy, Sacombank, one of the largest banks in Vietnam with over 15 million customers, and Sacombank.
Temenos also received high marks in the Omdia report for its solution capabilities and customer experience. Customers praised the platform’s agility, the platform’s strong business benefits in terms of enabling the launch of new features, and the user experience.
“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,” said Philip Benton, Principal Analyst at Omdia. “Digital banking is now considered the primary means by which customers connect with banks on a daily basis rather than just a channel. To be competitive, banks must adopt and use newer technology swiftly, given the speed of technological change and rising client demands. Temenos gives banks the option of choosing a fully functional digital banking interaction platform through Infinity or using these features as SaaS through the Temenos Banking Cloud. Our investigation revealed that Temenos assists all varieties of banks and supports banks everywhere in the world. Thanks to a broad platform that can be customized for any type of bank or location, Infinity regularly received good marks across the board, helping the vendor earn the highest market presence rating. Temenos and other similar vendors ought to be on your shortlist if you’re looking for a platform that supports quick new product launches and top-notch user experience.”
Temenos’ President of Product and COO, Prema Varadhan, said: “We are honored to be acknowledged by Omdia as a leader. With Temenos Infinity, banks can keep up with shifting customer expectations and provide the same responsive experience as e-commerce firms. Additionally, we have the scale to update the solution considerably more quickly than any rival in the market, thanks to our more than 850 clients.”
Temenos Infinity provides comprehensive capabilities for wealth management companies and corporate, retail, and business banks. It offers incumbents and non-incumbents SaaS solutions for digital onboarding, origination, and servicing that deliver high agility while lowering time to market and increasing cost-effectiveness. With Temenos Infinity and Transact core banking, Temenos provides end-to-end solutions, but its composable design gives banks options.