Temenos is leading the transition to a more sustainable banking industry with Software-as-a-Service
GENEVA, Switzerland, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Temenos (SIX: TEMN) has been recognized again as a global sustainability leader according to the most reputable ESG ratings. The company achieved the top score in the Software industry for the second year running in the 2023 Dow Jones Sustainability Indices (DJSI) and was the only company in the industry awarded top 1% distinction in the S&P Global Sustainability Yearbook for 2024. Temenos was also classified as low risk in Sustainalytics ESG Risk Rating Report, while retained its platinum medal by EcoVadis for its sustainability performance.
These latest achievements reflect Temenos’ commitment to sustainability as the company leads the transition to SaaS, with more than 700 clients on Temenos Banking Cloud, helping banks reduce their carbon emissions up to 95% compared to using on-premise IT infrastructure.
Banking is an IT intensive sector, and the dependence is increasing with pressure to deliver new digital offerings, process growing transaction volumes, leverage new technologies such as Artificial Intelligence and maintain vast data repositories. By migrating banking operations to the cloud and SaaS, banks can significantly reduce their environmental impact and operate in a more sustainable manner.
Temenos’ new end-to-end SaaS Enterprise Services, enabling banks to quickly deploy software solutions and take advantage of a leaner, agile and more efficient banking system, is a further step towards decarbonizing the banking industry. Temenos recently announced LEAP, a new AI-powered offering that helps banks modernize faster and to seamlessly and quickly move to the latest cloud-native Temenos technology.
Temenos also continues to improve the efficiency of its code to minimize its environmental impact, by 32% in the latest software release validated by GoCodeGreen.
Kalliopi Chioti, Chief Marketing and ESG Officer, Temenos, said: “Temenos is leading the transition to SaaS and a more sustainable banking industry. To be recognized once again as a leader in the most prestigious ESG ratings worldwide, such as DJSI, S&P global, Sustainalytics and Ecovadis, demonstrates our commitment to sustainability and the positive impact we have, supporting our clients in their transition to a low-carbon economy and achieve their ESG goals on Temenos Banking Cloud.”
Temenos extended its leadership in the Dow Jones Sustainability Indices with the highest CSA score (76/100) in the 2023 S&P Global Corporate Sustainability Assessment (CSA) out of 359 companies assessed in the Software industry. Only 759 companies were included in the 2024 S&P Sustainability Yearbook out of more than 9,400 companies assessed, while Temenos was the only Software company that achieved top 1% distinction. The company also ranked top 1% in Sustainalytics out of 443 companies assessed in Enterprise and Infrastructure Software sub-industry and top 1% in Ecovadis out of over 85,000 companies assessed from all industries worldwide.
An overview of Temenos’ environmental roadmap towards a net zero economy and more information about the company’s ESG achievements are available here.
About Temenos
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.
For more information, please visit www.temenos.com.
