Temenos, a global innovator in banking software, kicked off its TCF 2024 conference in Ireland with a showcase of its achievements from the past year, highlighting key insights and strategies for the future.

The event, held to discuss the Temenos Community Forum (TCF) 2024, began with former chief executive Andreas Andreades setting the stage by underlining the critical role of Temenos banking platforms in navigating market changes, competitive challenges, and significant events impacting performance.

Andreades encouraged banks already invested in the platform to continue their support and invited those not yet on board to explore joining.

He emphasised the importance of prioritising customer value and efficiency in the financial industry, citing the benefits of Temenos’s strategic value benchmark for banks, which has led to doubled profitability and halved cost-to-income ratios.

Former Temenos CEO Andreas Andreades

With Temenos’s value benchmark now encompassing 150 clients worldwide, Andreades highlighted its value for CEOs in gaining competitive advantage and improving performance.

He expressed the need to focus on creating value for customers and delivering consistent results to protect investments.

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Addressing the attendees, Andreades said, “We have reached 150 clients. Globally, it is the single largest strategic value benchmark exercise that exists for the banking industry. I’m absolutely convinced that for those that have participated in this and have shared their data, a very big thank you, I’m sure that your CEOs are taking great value from looking at the aggregate data. For those that haven’t participated, I’m also convinced that your CEOs would like to see how their bank is performing against their peers.”

Newly appointed CEO Jean Pierre Brulard joined the conference to share insights on transforming the financial services industry and outlined the challenges faced by banks, including demanding customers and regulatory requirements.

According to Brulard, the success of the software industry lies in two key ingredients: “customer centricity and innovation”.

He highlighted the importance of a strong value-driven corporate culture and customer-centric approach for companies to prioritise innovation and customer satisfaction.

Brulard warned that neglecting either of these elements can lead to stagnation or failure, stressing that successful software companies must strike a balance between innovation and customer focus to remain competitive.

One of the major initiatives Temenos is focusing on is responsible AI, aimed at making systems more responsive and secure. He also concluded the importance of addressing relevant use cases and ensuring ethical and responsible implementation of AI technology.

The TCF 2024 conference has so far set a tone for Temenos’s commitment to innovation, customer value, and responsible practices in the ever-evolving landscape of the financial services industry.