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Founded in 1993 and listed on the Swiss Stock Exchange, Temenos Group AG is a market-leading provider of banking software systems to retail, corporate, universal, private, Islamic, microfinance, and community banks. Headquartered in Geneva and with more than 60 offices worldwide, Temenos is a proven solution for more than 1,500 customer deployments in over 125 countries.
The company’s WealthManager product is an integrated wealth management software platform designed specifically for private financial advisors. It gives users a 360-degree view of their clients that combines flexible, day-to-day management with graphical, dashboard reporting, accurate data aggregation, and agile portfolio management.
Temenos’ WealthManager is at work in financial institutions of all sizes. For example, Temenos’ biggest client for WealthManager—a major Canadian bank—has almost 10 years of transaction history online for more than 1 million clients who perform billions of transactions. However, no matter the size, each of Temenos’ customers has one requirement in common: a need for fast technology. The company wanted to offer its customers a scalable and high-performance wealth management solution.
This led Temenos to conduct a performance benchmark, running its WealthManager platform on Oracle Exadata Database Machine. During the study, Temenos executed high-intensity financial engines two- to three-times faster than its previous internal benchmarks and/or largest customer throughput. The company also demonstrated greater than two-times the average improvement in response times for six-times the number of users and data volumes. Further, Temenos secured a two-times gain in service-level agreements for batch and user-oriented workloads via dedicated or parallelized processing windows.
“We have a strong relationship with Oracle, and have optimized our WealthManager solution for Oracle technology. The Oracle Exadata innovation struck a chord with us because it could add to our performance story. With Oracle Exadata Database Machine, we are able to give our customers a hardware boost, add to their growth, and meet service level agreements,” said Frank Opat, product manager and principal architect, Temenos Group AG.
Temenos achieved Oracle Exadata Optimized status through the Oracle PartnerNetwork. In achieving this status, the application was fully tested and is now certified as supported on Oracle Exadata Database Machine.