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Head office: 2 Rue de l’Ecole-de-Chimie, CH-1205 Geneva, Switzerland Tel: +41 22 708 1150 Email: marketing@temenos.com Other offices: Australia, Bangladesh, Belgium, Canada (2), China, Costa Rica, Ecuador, Egypt, France (3), Germany (2), Greece, Hong Kong, India (4), Indonesia, Japan, Kazakhstan, Kenya, Lebanon, Luxembourg, Malaysia, Mexico, Morocco, Netherlands, Pakistan, Romania, Russia, Saudi Arabia, Singapore, South Africa, Spain, Switzerland, Taiwan, Thailand, Turkey, UAE, UK (5), US (4), Vietnam Website: www.temenos.com Twitter: @temenos Founded: Temenos was founded in November 1993. The operation was initially set up as Electronic Banking Systems in 1984 Ownership: A public listed company on the SIX Swiss Stock Exchange Number of staff: Approximately 4000


was the clear best seller in the industry, with 44 new name wins. It narrowly maintained top spot in 2008, one ahead of what was now Oracle FSS, and grew its lead in the following two years. However, there was a sharp drop in new name sales in 2011 and Temenos found itself in second place, just one behind Oracle FSS. Temenos constantly sought to broaden Globus/T24, as well as increasing its staff and infrastructure. The new millennium brought with it enhancements including an eGlobus internet banking interface, improved trade finance functionality, securities functionality for private banking, and depository market support. In addition, futures and options support was also unveiled. On the technical front, for most of its history, Globus was tied to the proprietary Universe database. However, the turn of the century supposedly ushered in versions for Oracle and, on the mainframe, DB2, prior to the T24 overhaul (see below). Temenos also had distributor agreements with a number of companies worldwide, with success in the 1990s. Notable service partners have included IBM, Bishop Cavanagh, Logica, Sofgen, Thesys, Thai Equipment Research, and Unisystems. Temenos also works with a few other applications, as reflected in the tie-up in February 2005 with anti-money laundering partner, Mantas (prior to this being bought by I-flex/Oracle). For a time, Temenos’ focus moved towards direct sales and implementations but this strategy has subsequently again been reversed, with a renewed focus on partnerships. Temenos’ long awaited flotation on the Swiss Stock Exchange was


a brave move and saw a rather rocky baptism. Financial results were below expectation in the first couple of years as a listed company. Indeed, Temenos’ 2002 year-end results were grim reading, with a reported loss of $44.4 million despite healthy sales during the year. Koukis was, however, as ebullient as ever with predictions that the company would return to the black in 2003. By the end of the year, his predictions had been borne out by reality, with initial 2004 figures also looking good and the share price reacting accordingly. On the pure retail side, in late 2001, Temenos acquired Integrated


Core Technologies (ICT) along with its top-end back office system, Iris. This system had been built by the Spanish rural banks working with IBM. Temenos was seeking to fulfil its ambition of moving into retail banking which it had partly achieved, in the low-end of the market, with Globus. Both the ICT and Iris names were discarded and the system rebranded as Globus Corebanking, then Temenos Corebanking/TCB.


This system has had a number of setbacks and has few users. However, the relevant system from an Islamic banking perspective was Globus. In July 2003, Temenos announced the imminent launch of a re-architected version of this, T24. The new release was hailed as a non-stop, 24x7 solution, designed to remove the need for end- of-day procedures. T24 was developed following discussions with a number of Temenos’ larger clients. The release brought an open database and architecture, with the platform ranging from Windows to Unix.


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