Temenos looks for local partnerships to drive future growth in China and Japan
David Arnott, CEO of Temenos, discusses the company’s strategy for growth in Asia. March 08, 2013 | Carol WheatcroftIn a recent interview with The Asian Banker, David Arnott, chief executive officer of Temenos laid out his strategy to boost company earnings, identifying Asia as a strategically important region. The technology vendor wants to make particular inroads into the Chinese and Japanese markets where the use of partner channels is planned to accelerate growth within these countries. Arnott, who has been in his role for seven months having previously served as CFO since 2001, acknowledged that while other South East Asian countries including Indonesia, Philippines, Malaysia, and Vietnam are also seen as growth markets for Temenos, they were not transformational for the company. “My predecessor tried to do everything in many countries whereas I would rather only focus on those countries that can make a big difference,” Arnott said, adding that although the company continues to enjoy significant success in South East Asia, funds will be focused on three countries – China, Japan and the US. Without doubt Temenos has its work cut out in both China and Japan. Although the vendor has reference sites in both countries – principally with Bank of Shanghai in China and Sumitomo Mitsui Bank in Japan – it acknowledged the need to establish partnerships in order to further delve into each market. According to Arnott, he has a team in Japan currently working through the market entry strategy, which includes identifying suitable partners, and he hopes to announce a strategic partnership with a well-established local systems integrator in China over the coming months. With a product suite covering most banking market segments – universal, retail and Islamic banking, as well as private wealth management – Temenos differentiates itself from competitors by selling pre-packaged software in which the company retains the intellectual property (IP). The vendor relies on partners for the implementation process. Every new customer receives the core product alo... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
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