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# Temenos Recognized as Leader in Small Business Lending Reports

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AI legalese decoder can assist by providing a clear understanding of the legal jargon used in reports like the IDC MarketScapes. By breaking down complex terms and language, it can help professionals in the legal and financial sectors comprehend the information more easily, enabling them to make informed decisions based on the reports.

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Temenos has been acknowledged by IDC for its extensive digital banking and lending platforms, alongside its provision of support for alternative credit data sources for lending decisions and composable banking features that offer choice and flexibility to bank clients.

GENEVA, March 05, 2024 (GLOBE NEWSWIRE) — Temenos (SIX: TEMN) announced its recognition as a Leader in two prominent reports in the United States – the IDC MarketScape: North American Small Business Lending Customer Experience Solutions 2023-2024 Vendor Assessment and the IDC MarketScape: North American Small Business Lending Decisioning Platforms 2023ÔÇô2024 Vendor Assessment[1].

Both IDC MarketScapes assessed 11 technology vendors in the small business lending sector, encompassing any secured or unsecured loan granted to a small business owner, except for mortgage-related products. To attain Leader status, vendors must have the ability to address the majority of small business lending needs of any North American institution and support multiple use cases consistent with delivering a comprehensive end-to-end small business banking solution.

Temenos was positioned as a Leader due to its comprehensive digital banking and lending platforms, as well as its backing for alternative credit data sources in lending decisions, and composable banking features offering choice and flexibility to bank clients.

Temenos believes that its recognition as a Leader in the two reports highlights the end-to-end capabilities of its cloud-native solution. Temenos empowers US financial institutions to provide tangible value to small and medium businesses, from onboarding to origination, utilizing digital and face-to-face servicing, advisory and cross-sell for accounts, as well as lending and asset finance.

According to a recent Economist Impact study for Temenos, 71% of bankers see extracting value from AI as a crucial differentiator between successful and unsuccessful banks, with enhancing user experience through enhanced customer personalization considered the most valuable use case. With Temenos, banks can leverage an AI-powered Smart Banking Advisor to deliver comprehensive customer 360┬░ view capabilities and proactively assist small business customers’ growth with personalized advice, intelligent insights, and tailored solutions.

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**Marc DeCastro, Research director, Consumer Banking Digital Strategies at IDC, said:** ÔÇ£Over the past few years, the amount of small business ownership has increased substantially, creating more opportunities for financial institutions to deepen their relationships with their customers. As these small businesses expand, they are likely to need access to credit and will seek solutions that are user-friendly and tailored to their requirements, whether from a traditional lender, a nonbank lender, or a purely digital lender. Finding the right solution will be crucial to attract this growing and lucrative customer segment. Banks and credit unions should consider Temenos when seeking front-to-back core and digital banking platforms for small business lending.ÔÇØ

**Philip Barnett, President ÔÇô Americas, Temenos, said:** ÔÇ£We believe that being named a Leader by IDC reflects our continuous investment in innovation and our strong forward momentum in the North American market. Temenos’ highly scalable, cutting-edge cloud technology, combined with robust localization and US compliance capabilities, is aiding banks of all sizes in the US and Canada to enhance efficiency and speed to value. With over 30 million SMEs in the US, banks have a significant opportunity to tap into this traditionally underserved market by offering more personalized services and enhanced data insights. Temenos’ cloud-native composable banking platform, embedded with AI-powered tools tailored for SMEs, empowers North American banks to cultivate their small business relationships and broaden their customer base in a scalable, cost-effective manner.ÔÇØ

This validation by IDC further substantiates Temenos’s leading position in the market, having been previously recognized as a Leader in Digital Banking Platforms and Cloud-based Core Banking by Omdia in 2023, as well as clinching the top spot in eight categories, including core and digital banking, in the IBS Sales League Table.

[1] IDC MarketScape: North American Small Business Lending Customer Experience Solutions 2023-2024 Vendor Assessment (doc # US49787323, November 2023) and the IDC MarketScape: North America Small Business Lending Decisioning Platforms 2023ÔÇô2024 Vendor Assessment (doc # US49787523, November 2023).

**About Temenos**
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, offering opportunities for over 1.2 billion people globally every day. Serving 3000 banks from the largest to challengers and community banks in 150+ countries, Temenos assists in building new banking services and cutting-edge customer experiences. The Temenos open platform aids our top-performing clients in achieving a return on equity three times the industry average and cost-to-income ratios half the industry average.

For more information, visit [www.temenos.com](www.temenos.com).

**CONTACT:** Media Contacts Michael Anderson & Scott Rowe Temenos Global Public Relations Tel: +44 20 7423 3857 Email: [email protected] Alistair Kellie SECNewgate Communications for Temenos Tel: +44 20 7680 6550 Email: [email protected]

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