Temenos AG is a Swiss technology company specialising in enterprise software for banks and financial services, with its headquarters in Geneva. It was founded in 1993, and has been listed on the Swiss stock exchange since 2001.
Temenos serves over 3,000 financial institutions in 145 countries across the world. It claims to be used by 41 of the top 50 banks worldwide.
History Temenos was established in November 1993 by George Koukis and Kim Goodall, having acquired the rights to GLOBUS, the successful banking software platform developed by a team of technical and banking experts in 1988. The company was renamed to Temenos, in reference to a lecture on money given by Hans-Wolfgang Frick at the Temenos Academy (1992), and continued to develop and market GLOBUS.
In 2001, Temenos went public, and is listed on the main segment of the SWX Swiss Exchange (TEMN). Also in 2001, Temenos acquired a mainframe core banking application aimed at high-end retail banks, originally developed by IBM, and now marketed as Temenos Corebanking.
On 30 September 2003, Temenos launched its T24 banking package. T24 was based on GLOBUS, but with a state-of-the-art banking technology platform. This was the result of 3 years of development effort and an investment of more than US$24 million.
In 2011, George Koukis stepped down as chairman and became a non-executive director, and Andreas Andreades became chairman.
In 2021, Temenos launched a new collaborative fintech marketplace, Temenos Exchange.
In February 2024, American short-selling firm Hindenburg Research released a report alleging "major accounting irregularities" at Temenos.Louis Goss (15 Feb 2024). Temenos stock price dives as short-seller Hindenburg takes aim. Marketwatch via MSN.com, accessed 15 Feb 2024 Temenos denied the allegations, and announced an independent review. The independent review was published in April 2024, claiming that the allegations made by Hindenburg Research were "inaccurate and misleading." In response, Hindenburg asserted that the independent review was a "tacit confirmation of accounting manipulation and disclosure violations," and questioned the "independence" of the review.
In February 2025, Temenos announced the sale of its Multifonds business to Montagu Private Equity for approximately US$400 million, as part of a strategic shift to refocus on core and digital banking platforms.
Acquisitions
+ Companies acquired by Temenos, listed by year Year Company Country 2007 Actis.bsp Germany 2008 Financial Objects Ltd United Kingdom 2008 Lydian Associates Ltd United Kingdom 2009 Viveo France 2010 FE Mobile United Kingdom 2010 Odyssey Financial Technologies Luxembourg 2011 Primisyn Canada 2012 Edge IPK United Kingdom 2013 Trinovus United States 2015 Akcelerant United States 2015 Multifonds Luxembourg 2017 Rubik Financial Limited ('Rubik') Australia 2018AvokaUnited States 2019Htrunk Software SolutionsIndia 2019Logical GlueUnited Kingdom 2019Kony, IncUnited States / India
References