Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Switzerland
  4. Swiss Exchange
  5. Temenos AG
  6. News
  7. Summary
    TEMN   CH0012453913

TEMENOS AG

(TEMN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Barko to Launch a Digital Bank for Low-Income South Africans on The Temenos Banking Cloud

10/27/2021 | 02:28am EST
News
Barko to Launch a Digital Bank for Low-Income South Africans on The Temenos Banking Cloud

Temenos open banking platform will enable Barko to offer affordable, accessible banking services to unbanked South Africans

Press Releases, October 27, 2021
Temenos - Company

GENEVA, Switzerland - OCTOBER 27, 2021 - Temenos (SIX: TEMN), the banking software company, today announced that Barko, a leading microfinance company, plans to enter the retail banking market in South Africa with a new digital bank built on Temenos Transact and powered by The Temenos Banking Cloud. Barko will leverage the full front-to-back services, giving the new bank total control to create banking products that are easy to consume, configure and integrate with external applications.

With Temenos, Barko aims to disrupt the banking status quo with more accessible and affordable banking to advance the financial wellbeing of millions of South Africans underserved by traditional banks. Critically, the investment in Temenos' open banking platform will enable Barko to launch new banking products, from deposit and savings accounts to credit and loans, at speed and at a low cost.

Barko has applied for a Mutual Banking License to operate as a full service digital bank. In line with its social mission, the new banking capabilities powered by Temenos will enable Barko to further assist underserved and unbanked South Africans with longer-term and lower-cost loans, competitive affordable banking products and easy to use services with a seamless experience across its digital and branch channels.

Barko already uses Temenos Infinity to deliver a seamless omnichannel lending experience with fast access to microfinance via a digital lending app and a network of more than 200 branches.

More than 3,000 financial services institutions around the world rely on Temenos' modern, open, cloud technology. The Temenos Banking Cloud enables banks and businesses to consume, manage and maintain banking services in a secure, continually evolving, self-service platform. Using open APIs, banks can also collaborate and extend banking services with other fintechs and developers.

Kobus de Wet, CEO, Barko, commented:

"We want to build a digital bank for the millions of South Africans that are unbanked or underserved by the traditional banks. The extended collaboration with Temenos is critical to our mission. With Temenos modern cloud banking platform we can bring new products to market faster and at a significantly lower cost compared to banks on traditional core banking system. Ultimately, this means we can pass on savings with products and services that improve the financial lives of the people that bank with us."

Jean-Paul Mergeai, President - International Sales, Temenos, said:

"At Temenos we are passionate about transforming banking. Barko's entry into the South Africa retail banking market represents a significant moment for customers and the industry. We're pleased to work jointly with Barko to deliver the hyper-efficient cloud banking platform that will help it realize its ambitions of making financial services more affordable and accessible to all South Africans."

Disclaimer

Temenos AG published this content on 27 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 06:27:08 UTC.


© Publicnow 2021
All news about TEMENOS AG
11/24TEMENOS : Presents the Temenos Exchange – its Enhanced Open Marketplace for Fintech ..
PU
11/23TEMENOS : Nordea Investment Funds Picks Temenos Multifonds to Scale its Business
PU
11/19TEMENOS : Wins 2021 IDC FinTech Rankings Real Results Awards for Digital Banking
PU
11/16TEMENOS : Extends ESG Leadership position in the Dow Jones Sustainability World and Europe..
PU
11/11Cloud adoption in banking accelerates as banks ramp up digital services, reports Econom..
PU
11/09Temenos to Host SCALE 2021 Developer Conference to Support Sustainable and Inclusive Ba..
PU
11/08U Microfinance Bank collaborates with NdcTech and Temenos to accelerate digitalization ..
PU
11/04MyState Bank Selects Temenos for its Digital Banking Expansion in Australia
PU
11/02Temenos to Deliver Digital Banking Platform to Cambodia's Hattha Bank
MT
11/02Cambodian Bank, Hattha Bank Selects Temenos Cloud-Native Digital Banking Platform to Sp..
PU
More news
Analyst Recommendations on TEMENOS AG
More recommendations
Financials (USD)
Sales 2021 983 M - -
Net income 2021 191 M - -
Net Debt 2021 844 M - -
P/E ratio 2021 50,8x
Yield 2021 0,75%
Capitalization 9 550 M 9 551 M -
EV / Sales 2021 10,6x
EV / Sales 2022 9,40x
Nbr of Employees 7 259
Free-Float 85,5%
Chart TEMENOS AG
Duration : Period :
Temenos AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TEMENOS AG
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 133,46 $
Average target price 147,77 $
Spread / Average Target 10,7%
EPS Revisions
Managers and Directors
Max Chuard Chief Executive Officer
Panagiotis Spiliopoulos Chief Financial Officer
Andreas Andreades Executive Chairman
Mark Winterburn Chief Product and Technology Officer
Alexa Guenoun Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
TEMENOS AG-0.36%9 551
MICROSOFT CORPORATION48.22%2 475 231
SEA LIMITED49.12%164 624
ATLASSIAN CORPORATION PLC67.42%98 962
DASSAULT SYSTÈMES SE59.16%78 695
ROBLOX CORPORATION0.00%70 994