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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Temenos Group    TEMN   CH0012453913

TEMENOS GROUP

(TEMN)
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Temenos : LTI Selects Temenos to launch Digital Banking Platform in the Nordic Market

12/01/2020 | 02:57am EST
News
LTI Selects Temenos to launch Digital Banking Platform in the Nordic Market

Powered by Temenos, the banking-as-a-service platform modernizes legacy core banking systems, rapidly and efficiently

Press Releases, December 1, 2020
Temenos - Company

India, Mumbai, December 01, 2020 - Larsen & Toubro Infotech (LTI), a global technology consulting and digital solutions company, has partnered with Temenos, the banking software company, to launch the Digital Banking Platform, powered by Temenos technology to modernize legacy core banking systems, in the Nordic region. The platform enables financial institutions to be more agile and scalable while reducing operating costs. Banks will also be able to leverage the platform to launch new products and services faster.

With its comprehensive capabilities, the Digital Banking Platform provides end-to-end integration with Temenos Transact, Temenos Infinity, Temenos Payments, and Temenos Financial Crime Mitigation as well as Fintech solutions like regulatory reporting, authentication, KYC solutions, cards services and payment solutions available on Temenos Marketplace. LTI and its fully-owned subsidiary, Syncordis Consulting, a leading Temenos expert in the European region for more than 15 years, will provide implementation and managed services.

The partnership heralds a new era for Nordic banks as it brings together LTI's expertise in the domain and its deep understanding of Temenos functionality and advanced cloud-native, cloud-agnostic, AI and API-first technology solutions, enjoyed by over 3,000 banks in over 150 countries.

Sanjay Jalona, CEO & Managing Director, LTI,said:

'This partnership of Temenos and LTI brings unmatched experience, expertise, and passion for innovation to the banks and financial institutions in the Nordic region. The new powerful banking platform based on Temenos' cloud-native technology, will enable banks to scale, modernize, and reduce IT cost significantly. Through our exclusive Temenos Accelerator Toolkit, we amplify outcomes with a faster time-to-market and continue to provide outstanding banking modernization services that empower banks to take a quantum leap in their digital transformation journey.'

Max Chuard, Chief Executive Officer, Temenos, said:

'This is a strategically important signing for Temenos in the Nordics. We are delighted to expand our partnership with LTI and Syncordis to offer to the market the next generation digital banking platform. Together with our partners, we are offering banks access to LTI's global banking expertise across the full Temenos' solutions applied to the specific needs of the Nordic region. Our advanced cloud and AI technology combined with our rich banking country model bank functionality is becoming the de facto choice for the Nordic banks and financial institutions. We enable banks to modernize their legacy systems, future-proof their banking platform while offering innovative services to their customers.'

LTI is one of the leading IT Service Providers in the Nordic region. The IT Sourcing Study 2020 by Whitelane Research ranks LTI at #2 in terms of customer satisfaction across Europe. The company counts leading banks and financial institutions among its clients in the region.

Temenos Press Contacts

Jessica Wolfe & Scott Rowe

Temenos Global Public Relations

+1 610 232 2793 / +44 20 7423 3857

Alistair Kellie & Andrew Adie

Newgate Communications for Temenos

+44 20 7680 6550

Disclaimer

Temenos AG published this content on 01 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2020 07:56:01 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 896 M - -
Net income 2020 173 M - -
Net Debt 2020 852 M - -
P/E ratio 2020 56,2x
Yield 2020 0,68%
Capitalization 9 542 M 9 535 M -
EV / Sales 2020 11,6x
EV / Sales 2021 10,4x
Nbr of Employees 7 351
Free-Float 86,2%
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 132,84 $
Last Close Price 131,79 $
Spread / Highest target 45,3%
Spread / Average Target 0,80%
Spread / Lowest Target -55,6%
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NameTitle
Max Chuard Chief Executive Officer
Andreas Andreades Executive Chairman
Alexa Guenoun Chief Operating Officer
Panagiotis Spiliopoulos Chief Financial Officer
André Loustau Chief Technology Officer
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