18 October 2017
visit www.response.ncr.com

Temenos reports record first quarter contract signings

05 April 2004  |  4009 views  |  0 temenos

Swiss core banking systems vendor Temenos says it has signed first quarter contracts to a value of $15.7 million, an increase of 91.5% compared to the same period last year.

Temenos says the performance is its best ever for the first quarter - traditionally a fallow period - and that 69% of initial licences purchased in Q1 were for retail banking projects, compared with 42% in Q4 2003.

First quarter targets were reached or exceeded in Asia Pacific, the Americas and
Europe but were slightly below target in the Middle East and Russia. Initial licence signings comprised 94% new licences and 6% upgrade sales to existing customers.

During the quarter, Temenos teamed with IBM and Thai Equipment Research to secure a contract worth £16.7m with the Bank for Agriculture and Agricultural Cooperatives (BAAC) in Thailand for the supply and implementation of its Corebanking platform.

BAAC will use the Temenos system to support retail banking operations across its 600 branches, which handle over 10 million accounts. IBM will install the platform and provide the bank with consulting services, while Thai Equipment Research - Temenos' local partner - will provide ongoing support services.

The vendor also secured deals with Anglo Irish Bank Corporation to replace a core system for corporate lending, corporate deposits and retail deposits in the UK and Ireland, as well as with US-based Overseas Private Investment, Banque de France and an undisclosed tier one bank.

Andreas Andreades, CEO, Temenos, says the firm's strategy to pursue growth and the more profitable retail banking sector is starting to deliver results.

He says the firm is well-positioned to reach its ILF signings target of $68 million for the full year.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Temenos bounces back into the black

Temenos bounces back into the black

08 March 2004  |  4117 views  |  0 comments
Large deals boost Temenos; signs of life reported in retail markets

Large deals boost Temenos; signs of life reported in retail markets

21 January 2004  |  6459 views  |  0 comments
Mexico's Bansefi signs with Temenos and IBM

Mexico's Bansefi signs with Temenos and IBM

04 December 2003  |  8348 views  |  0 comments | 1 tweets
Menatep St Petersburg signs $13 million Temenos T24 deal

Menatep St Petersburg signs $13 million Temenos T24 deal

14 November 2003  |  3792 views  |  0 comments
Meespierson Reads goes live with Temenos' Globus

Meespierson Reads goes live with Temenos' Globus

14 October 2003  |  3644 views  |  0 comments
Julius Baer goes live with Temenos' T24 in New York

Julius Baer goes live with Temenos' T24 in New York

28 August 2003  |  4219 views  |  0 comments

Related company news

 

Related company information

Temenos – The Banking Software Company

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comRegister now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15334 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8509 views comments | 16 tweets | 22 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
8046 views 0 | 8 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7576 views comments | 13 tweets | 9 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6709 views comments | 8 tweets | 16 linkedin

Featured job

A minimum of £200K (not a limiting factor)
London

Find your next job