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

TEMENOS GROUP

(TEMN)
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Temenos : BCI, a Leading Latin American Bank, Selects Temenos to Launch New Corporate Bank in Peru

10/21/2020 | 03:30am EST
News
BCI, a Leading Latin American Bank, Selects Temenos to Launch New Corporate Bank in Peru

Chile's BCI selects Temenos core banking, payments and digital front-office technology to launch a new corporate bank in Peru in record time

Temenos Transact and Temenos Infinity will enable BCI's new bank to benefit from efficient and optimized operations, enhanced digital customer experiences and grow its corporate customer base fast

Press Releases, October 21, 2020
Temenos - Company

GENEVA, Switzerland - OCTOBER 21, 2020 - Temenos (SIX: TEMN), the banking software company today announced that Banco de Crédito e Inversiones (BCI), Chile's third largest bank, selected Temenos' advanced technology to launch a new corporate bank in Peru. BCI chose Temenos Transact, including the payments solution, as well as Temenos Infinity, the omnichannel digital banking product, to drive its growth strategy and deliver corporate banking and trade finance services to primarily Chilean enterprises with operations in Peru, as well as Peruvian corporate clients. Using Temenos technology, the new bank plans to launch in 2021.

BCI specializes in savings and deposits, securities brokerage, asset management and insurance. The bank is headquartered in Chile and it also has operations in Florida, USA. Temenos Transact, with its rich, pre-configured core banking functionality will underpin the greenfield bank in Peru, delivering scale and agility to reach corporate customers. BCI will use the Temenos Model Bank approach, which is compliant with Peruvian regulations and incorporates best local business practices, to accelerate the banking license process and launch its new corporate bank in Peru.

With Temenos Infinity, the bank will benefit from the leading omnichannel digital banking product covering customer engagement from acquisition to long-term retention. Deploying both Temenos Infinity and Temenos Transact, BCI Peru will achieve simplified operations and outstanding digital customer experiences. Temenos' agile technology architecture will help the new bank automate its back-office and efficiently serve its corporate customers with tailored solutions ranging from deposits, loans, and payments to warranties.

BCI will also leverage Temenos' payments functionality to support cross-border payments of its corporate customers. Temenos technology supports the latest SWIFT messaging enhancements, interest rates and enables a smooth transition from LIBOR to Risk-Free Rates (RFRs).

Eduardo Nazal, Managing Director, International Strategy Development, stated:

'We selected Temenos as our strategic technology partner to support us with our growing plan in Peru. Temenos' advanced technology, scale and international expertise made them the ideal partner. We were also impressed with the company's strong presence in Americas, as well as its ability to deliver fast implementations even in these times. BCI in Peru will benefit from embedded local best practices and we expect a smooth launch next year. By launching a new bank in Peru and using Temenos' technology as our differentiator, we aspire to have a state of the art bank for corporate banking in the region.'

Enrique Ramos O'Reilly, Managing Director, Latin America & Caribbean, said:

'We are excited to be partnering with BCI Bank, one of the main financial groups in Latin America, and are looking forward to expanding our relationship in the future. Our innovative technology will provide an agile banking platform for BCI to launch its new corporate bank in Peru fast and deliver innovative products and digital experiences to its corporate customers. We have invested extensively to deliver the most advanced cloud and AI technology, and rich corporate banking functionality. With our core, payments and digital banking products, BCI will benefit from optimized and efficient operations and support its customers with tailored solutions. Temenos has a strong and growing presence across Latin America, and this signing cements our position in Peru, as our fourth customer in the country.'

Temenos was recently recognized as a Leader in The Forrester Wave™: Digital Banking Processing Platforms (Corporate Banking) Q3 2020, reflecting its investment and innovation in its cloud-native platform with embedded AI technology to power the digital transformation of corporate banking. Temenos Transact is an integrated core banking system with deployable components, which covers all areas of corporate banking including corporate lending, trade finance, payments and cash and liquidity management, with the addition of embedded analytics and compliance. It also offers front to back capabilities for corporates to initiate all transactions ranging from trade finance to payments and cash sweeping.

Disclaimer

Temenos AG published this content on 21 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2020 07:29:05 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 898 M - -
Net income 2020 173 M - -
Net Debt 2020 859 M - -
P/E ratio 2020 56,6x
Yield 2020 0,68%
Capitalization 9 604 M 9 619 M -
EV / Sales 2020 11,7x
EV / Sales 2021 10,4x
Nbr of Employees 7 351
Free-Float 86,2%
Chart TEMENOS GROUP
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Temenos Group Technical Analysis Chart | TEMN | CH0012453913 | MarketScreener
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 18
Average target price 130,89 $
Last Close Price 132,66 $
Spread / Highest target 41,7%
Spread / Average Target -1,33%
Spread / Lowest Target -57,2%
EPS Revisions
Managers
NameTitle
Max Chuard Chief Executive Officer
Andreas Andreades Executive Chairman
Jean-Michel Hilsenkopf Chief Operating Officer
Panagiotis Spiliopoulos Chief Financial Officer
André Loustau Chief Technology Officer
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