Temenos Group AG

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Temenos Group AG
Temenos logo.png
Founded 1993
Headquarters Geneva, Switzerland
Key People David Arnott, Chief Executive Officer
Employees 4,600
Products banking software
Website https://www.temenos.com/en/
Releases Company News

Temenos Goup AG, headquartered in Geneva and publicly traded on SIX Swiss Exchange, is a banking technology firm that helps financial institutions become more digital. The company says it serves more than 2,000 firms around the world, including 41 of the top 50 banks, use Temenos for processing of daily transactions.[1]

The company is the fourth largest software firm in Europe, with a market capitalization of more than $5 billion. It employs more than 4,600 people in 64 offices with clients in more than 145 countries. The company has grown organically and through acquisitions as banks outsource technology functions and customers move online.[2]


The company was founded in 1993 by George Koukis and went public on June 26, 2001. The name is an ancient Greek term meaning "something of value, something sacred, something you protect." It has been focused on providing software to the banking sector ranging from retail to corporate, private, Islamic, microfinance and community banking institutions and boasts about 700 banks globally use its software.[3]

Koukis is credited with transforming the company's sales strategy, which propelled the company quickly. The company's initial product was called GLOBUS, and in 2001, it created a new system called T24, which was able to operate on different banking platforms. The company expanded beyond that from 2003 to 2011, with the company's revenues growing from $100 million to $500 million.

In the late 1990s and early 2000s, the firm expanded into India, growing dramatically. In June 2015, it had about 1,800 staff in Bengaluru and Chennai with an announced plan to increase that number to almost 2,500 by 2018. India is the largest product development center for the company.[4]

Company Chairman Andreas Andreades succeeded Koukis in 2003 as CEO, who was succeeded by David Arnott in July 2012.[5]

In March 2012, the company pulled out of a deal to buy rival UK-based technology firm Misys. The companies initially agreed on key terms, which would have granted 53.9 percent of the firm to Temenos. That was followed by a successful bid of $2 billion for Misys by Vista Equity Partners, a private equity firm.[6]

In March 2013, the company announced it acquired TriNovus, which added 800 institutional clients to its US customer base. Terms of the deal were not disclosed, but was financed through a combination of cash and treasury shares.[7][8]

The company acquired Akcelerant, a Philadelphia-based financial software firm focused on the US credit union space. The total price on the deal was $50 million.[9]

The company acquired Australian-based financial software firm Rubik Financial in May 2017 for about $50 million, marking its largest deal of the year for the company. Rubik was focused on banking, wealth management and mortgage broker services.[10][11]

Temenos made a splash into the financial trading technology space with the announced acquisition of Fidessa Group in February 2018 for $1.96 billion.[12]

Products and Services

Temenos offers what it calls front-to-back, integrated banking and finance software and offers clients software licenses, software as a service, maintenance and services. The company said it invests 20 percent of its revenues back into research and development, twice the industry average and more than its peers. It breaks is offerings down into three categories: suites, products and technology.

Suites offer software packages designed for different banks: retail, wealth, corporate, universal, Islamic, inclusive and funds.

Products cover everything from core banking to analytics, risk and compliance.

Technology refers five major areas within banking structures: data, design, integration, interaction and platforms.[13]

In 2015, the company launched a new marketplace store for apps, an online platform where providers and institutions can find and implement full solutions.[14]

Key People


  1. What We Do. Temenos.
  2. Elliott Views $2 Billion Bid for Fidessa as Too Low. Bloomberg.
  3. Banking Technology names Temenos best core banking system. Bob's Guide.
  4. Temenos kicks off aggressive growth plan in India. Temenos.
  5. Koukis steps down as Temenos chief executive. Finextra.
  6. Temenos walks away from Misys merger. Reuters.
  7. Temenos expands U.S. footprint with TriNovus buy. Reuters.
  8. Temenos expands U.S. footprint with TriNovus buy. Temenos.
  9. Temenos purchases Akcelerant. Temenos.
  10. Temenos announces closing of Rubik acquisition and revises its 2017 outlook. Temenos.
  11. Temenos celebrates commitment to the Australian market. Bob's Guide.
  12. Temenos agrees 1.4 billion pounds deal for Fidessa, activist Elliott enters. Reuters.
  13. Temenos Interim Report 2017. Temenos.
  14. Temenos launches brand new MarketPlace store and website for FinTech providers. Temenos.