Temenos AG
Swiss banking software company From Wikipedia, the free encyclopedia
Temenos AG is a Swiss technology company specialising in enterprise software for banks and financial services, with its headquarters in Geneva. It was founded in 1993, and has been listed on the Swiss stock exchange since 2001.
 | |
| Company type | Public (Aktiengesellschaft) |
|---|---|
| SIX: TEMN SMI MID component | |
| Industry |
|
| Founded | Geneva, Switzerland (1993, as Temenos Systems) |
| Founders | George Koukis Kim Goodall |
| Headquarters | Geneva , Switzerland |
Key people | |
| Products |
|
| Revenue | $981 million (2019)[1] |
Number of employees | 7,500 (2020)[2] |
| Website | www |
Temenos serves over 3,000 financial institutions in 145 countries across the world.[3][2] It claims to be used by 41 of the top 50 banks worldwide.[2][3]
History
Summarize
Perspective
Temenos was established in November 1993 by George Koukis and Kim Goodall, having acquired the rights to GLOBUS, the successful banking software platform developed by a team of technical and banking experts in 1988. The company was renamed to Temenos, in reference to a lecture on money given by Hans-Wolfgang Frick at the Temenos Academy[4] (1992), and continued to develop and market GLOBUS.
In 2001, Temenos went public,[5] and is listed on the main segment of the SWX Swiss Exchange (TEMN). Also in 2001, Temenos acquired a mainframe core banking application aimed at high-end retail banks, originally developed by IBM, and now marketed as Temenos Corebanking.[citation needed]
On 30 September 2003, Temenos launched its T24 banking package. T24 was based on GLOBUS,[6] but with a state-of-the-art banking technology platform. This was the result of 3 years of development effort and an investment of more than US$24 million.[citation needed]
In 2011, George Koukis stepped down as chairman and became a non-executive director,[7] and Andreas Andreades became chairman.
In 2021, Temenos launched a new collaborative fintech marketplace, Temenos Exchange.[8]
In February 2024, American short-selling firm Hindenburg Research released a report alleging "major accounting irregularities" at Temenos.[9] Temenos denied the allegations, and announced an independent review.[10][11] The independent review was published in April 2024, claiming that the allegations made by Hindenburg Research were "inaccurate and misleading."[12] In response, Hindenburg asserted that the independent review was a "tacit confirmation of accounting manipulation and disclosure violations," and questioned the "independence" of the review.[13]
Acquisitions
| Year | Company | Country |
|---|---|---|
| 2007 | Actis.bsp[14] | Germany |
| 2008 | Financial Objects Ltd[15] | United Kingdom |
| 2008 | Lydian Associates Ltd[16] | United Kingdom |
| 2009 | Viveo[17] | France |
| 2010 | FE Mobile[18] | United Kingdom |
| 2010 | Odyssey Financial Technologies[19][20] | Luxembourg |
| 2011 | Primisyn[21] | Canada |
| 2012 | Edge IPK[22] | United Kingdom |
| 2013 | Trinovus[23] | United States |
| 2015 | Akcelerant[24] | United States |
| 2015 | Multifonds[25] | Luxembourg |
| 2017 | Rubik Financial Limited ('Rubik')[26] | Australia |
| 2018 | Avoka[27] | United States |
| 2019 | Htrunk Software Solutions[28][29] | India |
| 2019 | Logical Glue | United Kingdom |
| 2019 | Kony, Inc | United States / India |
References
Wikiwand - on
Seamless Wikipedia browsing. On steroids.