Temenos names Philip Barnett global sales director, Corebanking

Source: Temenos

Temenos Group (SWX: TEMN), the provider of integrated core banking systems, today announced the appointment of Philip Barnett as Global Sales Director for Temenos Corebanking (TCB).

The appointment reinforces Temenos' strategy to focus on delivering TCB to outsourcing providers, as well as large-scale retail banks, globally.

TCB is a highly scalable solution for tier-one and tier-two banks, as well as multi-bank outsourcing centres. It is a next generation platform that delivers core retail processing together with a competitive advantage. TCB's component structure enables large financial institutions to adopt a phased migration path, providing a viable route to replace fragmented systems with a fully functional architecture. Due to the high level of reusability within these functional components, financial institutions can lower the cost to maintain and integrate their technology. It also allows them to adopt a product manufacturing approach to their businesses, designing, building and distributing products quickly and effectively.

TCB runs a number of large-scale banking operations. For example, in Europe, TCB operates in the largest retail bank outsourcing centre in Spain, running 74 banks and supporting a branch network of over 4,000 branches in a single processing instance. In Asia, TCB has been used as the core platform for a retail bank processing 17 million accounts for a leading Korean bank.

Philip will be responsible for driving sales of TCB, which was made available as a packaged solution to all customers in the version 7.0 release, in a number of key selected geographies where market demands for such modern componentised and service based solutions have increased. This will involve leveraging relationships with existing partners and forging new strategic alliances. In addition to driving sales, Philip will also be responsible for the full Asian operations of TCB.

Philip has worked in various roles in the financial services IT sector for the last 20 years, joining Temenos in 2003 as Asia Pacific Sales Director. He was promoted to Regional Director in 2006, for being instrumental in driving the substantial growth of thee business in that region. Replacing Philip in Asia Pacific as Regional Director is Chris Longden, bringing with him 20 years of banking software experience. He has also held a number of general management positions within the Asia Pacific Region, spending a total of nine years living in Tokyo, Hong Kong and Sydney.

Commenting on his appointment Philip noted: "I am looking forward to playing a pivotal role in further building TCB's momentum and global sales growth. Given the substantial investment in TCB we can now offer a wide variety of platform and deployment choices to these highly complex organisations, enabling them to gain significant competitive advantage and at the same time guaranteeing a safe replacement of their legacy systems."

Andreas Andreades, CEO of Temenos, says of the appointment: "This is an exciting growth period for TCB and the appointment is a very strategic one for Temenos. We are in a new phase in the evolution of TCB as top-tier banks are increasingly looking to replace legacy core systems with a single modern core platform. Existing clients have proved that TCB can lower costs, deliver significant operational improvements and provide a real return on investment.

"Chris is a significant addition to the Temenos management team and I believe he will be instrumental in developing our Asian presence over the next few years."

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