Banking software house Temenos has won a major new client – so major that the contract win will materially move the Genevan firm's results.
Temenos said it has persuaded a Tier 1 bank to opt for its core software banking system. Geneva-based Temenos didn't disclose the name of the bank, saying merely that the scope of the deal is «material» to its results, due next Wednesday.
Software is increasingly the battleground of banks seeking efficiencies, and Temenos, along with Avaloq is among the largest vendors of such products.
Temenos' most recent deal was with Ethiopia's Cooperative Bank of Oromia for 2.4 million client accounts.
