Priya Jaiswal, an authority in Banking, Business, and Finance, joins us to discuss Temenos’s recognition by CNBC as one of the world’s top fintech companies. With a reputation for innovation and market leadership, Temenos continues to shape the future of banking through cutting-edge technology and strategic foresight. Join us as Priya delves into how Temenos maintains its status, the significance of this accolade, and what sets the company apart in the fintech landscape.
Can you explain what it means to be recognized as one of the world’s top fintech companies by CNBC?
Being recognized as one of the world’s top fintech companies by CNBC is a significant honor. It signals to the market and stakeholders that we are not just following trends but are at the forefront of innovation in financial technology. This acknowledgment comes from our transformational impact on the financial services industry and highlights our role as a key player in driving forward-thinking solutions that meet modern banking needs.
This is the second year in a row that Temenos has been included in this list. How does the company manage to maintain its status among the top fintech firms?
Maintaining our status on such a prestigious list requires a relentless commitment to innovation and excellence. At Temenos, we invest heavily in research and development, about 20% of our revenues, ensuring that we continually enhance our product offerings. Our client-centric approach, wherein we actively collaborate with banks to understand and fulfill their evolving needs, is essential. By consistently delivering flexible and scalable solutions, we ensure we remain a trusted partner for financial institutions worldwide.
Could you share more about the selection process for CNBC’s list and what criteria were used to evaluate the companies?
The selection process for CNBC’s list is quite comprehensive. Over 2,000 global firms were evaluated based on different criteria, including publicly available data, company-submitted performance metrics, and independent research conducted by CNBC in association with Statista. This rigorous process ensures that the final list represents companies demonstrating significant innovation, market influence, and the ability to effect change in the financial industry.
How does Temenos stand out from the other 2,000 global firms that were evaluated?
Temenos stands out due to our deep commitment to innovation, as evidenced by our market-leading core banking suite and best-in-class modular solutions. Our cloud-native architecture and embedded AI differentiate us from others by providing unmatched flexibility and efficiency. Furthermore, our robust client base of over 950 core banking and 600 digital clients speaks to the trust placed in our solutions and our capabilities in banking modernization.
What specific attributes or achievements do you believe contributed to Temenos being named on the list this year?
Several attributes contribute to our recognition. Firstly, our continuous innovation, such as the launch of Gen AI Copilot and FCM AI Agent, has been monumental in addressing current banking challenges. Additionally, the adaptability of our offerings, whether on-premises, cloud, or SaaS, ensures that banks can tailor solutions to their needs. Our strategic focus on delivering exceptional customer experiences also plays a vital role in our achievements.
What is Temenos’s market-leading core banking suite, and what makes it unique in the fintech industry?
Our market-leading core banking suite is a comprehensive set of tools designed to modernize banking operations. What makes it unique is its modularity and flexibility, allowing banks to customize and scale operations as needed. Coupled with a cloud-native design and AI-embedded technologies, our suite enables banks to deliver streamlined and cost-effective services, setting new standards in the industry.
Can you elaborate on the role of cloud-native architecture and embedded AI in your offerings?
Cloud-native architecture allows for greater scalability and flexibility, essential in today’s ever-changing financial landscape. It helps reduce costs while enhancing operational efficiency. The embedded AI empowers banks to offer personalized services and gain insights into customer behavior. By integrating these technologies, Temenos provides banks with the tools to efficiently manage and adapt to consumer needs and market changes.
How does Temenos ensure it meets the diverse needs of over 950 core banking clients and 600 digital clients worldwide?
We prioritize a deep understanding of our clients’ needs and maintain an agile approach to meet them. Our solutions are built to be highly adaptable, ensuring they can be customized for various needs and regulations across different markets. Furthermore, our ongoing R&D efforts allow us to anticipate future demands and keep our offerings one step ahead of the industry requirements.
Could you discuss the importance of R&D for Temenos and some of the recent innovations from your team?
Research and development are the backbone of our strategy at Temenos, ensuring continuous innovation and enhancement of our products. Recent innovations include the Gen AI Copilot, designed to streamline the design, launch, and optimization of financial products, and the FCM AI Agent that tackles the issue of false positives in sanctions screening. These innovations not only improve service delivery but also enhance overall bank operations.
How do the Gen AI Copilot and FCM AI Agent support financial institutions in enhancing their services?
The Gen AI Copilot aids financial institutions in rapidly bringing new products to market, testing them, and optimizing their effectiveness and customer reach. Similarly, the FCM AI Agent is pivotal in refining compliance processes by significantly reducing false positives in sanctions screening, leading to more accurate and faster decision-making by banks, which is crucial in today’s regulatory environment.
How does being named by CNBC compare to other accolades Temenos has received, like the World’s Best Core Banking Solution title by Euromoney?
While each accolade holds its own significance, recognition by CNBC highlights our influence on a global scale and in the broader fintech ecosystem. It’s a testament not only to our product innovation and market leadership but also to our enduring commitment to enhancing the financial services landscape. Every award reinforces our dedication to being a top-tier service provider and innovator in banking technology.
What strategies does Temenos plan to implement to continue its leadership in banking technology in the coming years?
Our primary strategy involves continuing our investment in R&D to keep ahead of technological advances. We also focus on enhancing our AI capabilities and expanding our cloud solutions to better serve diverse banking needs. Engaging with our clients to innovate and adapt our offerings helps us maintain our leadership. We are dedicated to pioneering solutions that make banking more efficient and accessible for everyone.
Can you talk about the flexibility in your technology solutions, and how they can be deployed on-premises, in the cloud, or as SaaS?
Our technology solutions are designed with flexibility at their core, allowing institutions to deploy them in a manner that best suits their operational strategy and goals. Whether an organization needs on-premise control, the scalability of cloud, or the convenience of SaaS, our solutions can seamlessly integrate into existing infrastructures, giving banks the agility to scale and adapt to market demands.
What drives Temenos’s mission to enable people to live their best financial lives, and how is the company achieving this aim?
Our mission is driven by the belief that everyone deserves access to advanced and reliable banking services. By empowering banks with innovative technology, we enable them to provide better financial products and services that improve their customers’ lives. Our consistent focus on customer satisfaction, coupled with our drive for innovation, allows us to deliver on this mission effectively every day.
How can potential clients learn more about Temenos and its offerings if they’re interested?
Potential clients can learn more about our offerings by visiting our website, which provides detailed information about our products and solutions. Additionally, we encourage reaching out directly to our sales teams who are always ready to provide personalized consultations and insights tailored to specific needs and objectives.
