Temenos AG

Temenos AG is a European company that offers enterprise software especially to banks and other financial organizations. The company was founded in 1993 as Temenos Systems and today it offers its services to more than 145 countries around the world. Temenos AG witnesses daily transactions of more than 1.2 billion people using the technology of the company. Currently, 41 out of 50 top most banks of the world are clients of Temenos. From multinational corporate banks to small community banks, Temenos AG offers software across a wide range of demographics. The headquarter’s of the company is based in Geneva, Switzerland and the present CEO of the company is Max Chuard.

About Temenos AG

Founded in 1993, Temenos became a publicly-traded company in 2001 as it got listed on the Swiss Stock Exchange. Apart from the company’s headquarters, Temenos has more than 67 offices in various countries and the total number of employees is approximately 7,500. Temenos has also received several awards and featured in various popular magazines. In the IBS League Table (2017-2021) Temenos was the number one best-selling digital banking system. Temenos is one of the fourth largest European software companies.

There are more than 3,000 firms across the globe that uses Temenos’s banking software for daily transactions every day. The solutions and products offered by Temenos include core banking, payments, fund management, digital banking, wealth management applications, etc. The company has got every aspect of monetary need covered when it comes to smooth user experience and reliable applications. Though most of the banking companies don’t invest rigorously in R&D, Temenos 20% of the revenue into their R&D sector to focus more on renovation. Around 30% of the world’s banking population uses Temenos for any banking purposes.

History and Acquisitions

The baking project behind Temenos was started a few years before it was officially launched. A group of banking experts and technical researchers started developing a successful banking platform in the late 1980s. And, it was in 1993 that George Koukis and Kim Goodall acquired the rights to GLOBUS, the newly designed banking platform, and changed the name of the company to Temenos. The name of the company was taken from a reference lecture on money that was given by Hans Wolfgang Frick and Temenos Academy. Temenos became public in 2001 and right after going public, it made a big acquisition by purchasing a mainframe core banking software. The application it acquired was originally made by IBM and now it is sold as a part of Temenos Core banking.

Temenos launched the T24 banking package in 2003 with a more improved banking technology platform. To build the T24 package, the company required three long years of effort and also invested more than $24 million. After acquiring the banking application from IBM, the company made a major acquisition in 2007 when it acquired a German company called Actis.BSP. In 2008, Temenos acquired two UK-based companies, namely, Financial Objects Ltd and Lydian Associates Ltd. In 2009, it acquired a French company called Viveo and FE mobile, a UK-based company in 2010. After a few years, Temenos also started investing in the American market as it acquired Trinovus and Akcelerant, two US-based companies in 2013 and 2015 respectively. It has also acquired a couple of Indian companies to expand its territories in Asia. Recently, Tatra Banka, Slovakia’s largest mutual fund company chose Temenos Multifonds.

Max Chuard – CEO of Temenos AG

Max Chuard is serving as the CEO of Temenos since 2019. He joined the company a long time back in 2002 as the Director of Corporate Finance and Investor Relations and then got promoted to Chief Financial Officer in 2012. Before joining Temenos, Max worked at Investment Baking Boutique and JPMorgan Chase & Co. Max Chuard went to the University of Lausanne and holds a master’s degree in finance.