The story
Temenos was established in November 1993 by George Koukis and Kim Goodall, having acquired the rights to GLOBUS, the successful banking software platform developed by a team of technical and banking experts in 1988. The company was renamed to Temenos, in reference to a lecture on money given by Hans-Wolfgang Frick at the Temenos Academy (1992), and continued to develop and market GLOBUS.
In 2001, Temenos went public, and is listed on the main segment of the SWX Swiss Exchange (TEMN). Also in 2001, Temenos acquired a mainframe core banking application aimed at high-end retail banks, originally developed by IBM, and now marketed as Temenos Corebanking.
On 30 September 2003, Temenos launched its T24 banking package. T24 was based on GLOBUS, but with a state-of-the-art banking technology platform. This was the result of 3 years of development effort and an investment of more than US$24 million.
In 2011, George Koukis stepped down as chairman and became a non-executive director, and Andreas Andreades became chairman.
In 2021, Temenos launched a new collaborative fintech marketplace, Temenos Exchange.
In February 2024, American short-selling firm Hindenburg Research released a report alleging "major accounting irregularities" at Temenos. Temenos denied the allegations, and announced an independent review. The independent review was published in April 2024, claiming that the allegations made by Hindenburg Research were "inaccurate and misleading." In response, Hindenburg asserted that the independent review was a "tacit confirmation of accounting manipulation and disclosure violations," and questioned the "independence" of the review.
In February 2025, Temenos announced the sale of its Multifonds business to Montagu Private Equity for approximately US$400 million, as part of a strategic shift to refocus on core and digital banking platforms.
From Wikipedia’s article on Temenos AG, shared under CC BY-SA 4.0.5