Temenos Ag · SIX:TEMN
Temenos — Investor Day (February 2014)
104 slides from Temenos's investor day presentation, Feb 19, 2014
Slide 1: Delivering growth
Delivering growth Analyst & Investor Event 19 February 2014
Slide 2: Disclaimer
Disclaimer Any remarks that we may make about future expectations, plans and prospects for the company constitute forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of various factors. In particular, the forward-looki
Slide 3: Running order for today
Running order for today 10.00 to 10.45 Strategy and vision David Arnott, CEO 10.45 to 11.15 Delivering innovation Mark Winterburn, Group Product Director 11.15 to 11.30 Coffee 11.30 to 12.00 Making payments pay Amanda Gilmour, Payments Product Director Jost Hoppermann, Forrester 12.00 to 12.30 Deliv
Slide 4: Strategy and vision
Strategy and vision David Arnott, CEO
Slide 5: Key takeaways
Key takeaways • We have delivered on our commitments • Our market opportunity is massive… and has increased with the launch of TPS • The industry is undergoing a structural shift - the fundamental growth drivers remain • We have the solutions to meet the industry’s needs and a compelling roadmap • T
Slide 6: We have delivered on our commitments
We have delivered on our commitments Sustainably grow licence and maintenance revenues Multi-product offering with a focus on reusable product investment Realising the installed base opportunity Higher margin services supporting product business Partner strategy moving into the next phase Strategic
Slide 7: The market opportunity is huge
The market opportunity is huge Core banking Wealth BI Channels Payments USDbn 35 USD 32.0bn 30 6.0 25 5.6 20 3.0 15 4.5 10 USD 7.0bn 12.9 5 0 Spend with third-parties today Total spend on banking software today *Licences and maintenance Source: Gartner, IDC, Celent, Temenos estimates Multi-product o
Slide 8: Application software is significantly underpenetrated in banks
Application software is significantly underpenetrated in banks 100% 80% 60% 40% 20% 0% Industrial Energy Consumer Healthcare Public sector Insurance Telecoms Banking goods Sources: BCG, Gartner, Forrester Banks have the lowest penetration of 3rd party software 8
Slide 9: The industry is undergoing a structural shift
The industry is undergoing a structural shift Multi- Cloud Multi-channels Breaking the value chain 1bn predicted smartphone shipments in 2014 49% annual growth rate of tablet sales to 2018 Regulation Price transparency Diminishing customer loyalty 3% pts 50% 29% The amount BASLE III lowers ROE % of
Slide 10: We have the solutions to meet the industry's needs
We have the solutions to meet the industry’s needs Efficient Omnichannel IT solutions delivering 60% higher Great, consistent user experience across IT efficiency ratios all channels Analytics Agile Fastest time to value, best success The best product-building capabilities rate on analytics in our i
Slide 11: Multi-product offering remains the winning model
Multi-product offering remains the winning model • Multi-product offering accelerating demand for core replacements • Focus in 2013 was on winning the larger core banking deals • However, in the medium term, multi-product still expected to drive growth • Multi-product offering expected to increase c
Slide 12: Key drivers for our five verticals
Key drivers for our five verticals More intense competition Growing Higher capital complexity Core banking requirements PWM Channels BI Payments More demanding Technology customers disruption The key drivers are consistent across all of our verticals 12
Slide 13: Beating the competition
Beating the competition Taking market share <1% >4% Market growth in 2013 Temenos growth in 2013 Extending our lead Product Sales Delivery • Best products • Unrivalled referenceability • Rich methodologies • Best roadmap • A strong partner channel • The right partners We are extending our leadership
Slide 14: Partner selling
Partner selling % of software licensing brought by partners 20% • Earlier involvement in the sales cycle 16% • Greater reach 12% • Better connected 8% • Entrenched within the customer 4% 0% 2009 2010 2011 2012 2013 Partner programme delivering results 14
Slide 15: A platform to capture the US market
A platform to capture the US market “…the consolidation of the vendor market in US has created a general appetite for alternative options. The combination of a strong product with credible delivery and higher mindshare means that Temenos is now well placed to take advantage of this opportunity.” “Te
Slide 16: Primed to capture the US opportunity
Primed to capture the US opportunity 2013 in numbers The fullest US SaaS offering 5 • • T24 core banking Insight Business Intelligence T24 on a SaaS basis sold in Q4 • Channels • BSA/AML Compliance Suite 263 • • TriComply SocialComply Total new customers for Temenos US in 2013 • BankerVMS • BankerML
Slide 17: SaaS
SaaS 2020 What we are doing… We believe by 2020 all new core • Setting up new division with a new culture replacements will be in the cloud • Dedicated team 1st • 3 main products: Microfinance, smaller Temenos was first vendor to put universal and non-core (Insight and AML) core banking in the cloud
Slide 18: Delivery – rich methodologies and the right partners
Delivery – rich methodologies and the right partners 43 132 New clients live in 2013 Go lives around the world in 2013 “Temenos scored highest on service and support and delivered a balanced performance for many criteria” The Forrester Wave™: Global Banking Platforms, Q4 2012 – Jost Hoppermann, Dece
Slide 19: Segment focus for 2014
Segment focus for 2014 US SaaS Retail / Non-US Universal SaaS Delivering growth Payments PWM Channels BI Key drivers for 2014 19
Slide 20: Delivering on our vision
Delivering on our vision Build Scale Lead 1993 to 2002 2003 to 2011 2012 onwards Domain focus Built out regional structure True multi-product focus Truly global Expansion of addressable market Multi-deployment options Single packaged product M&A programme Realising installed base opportunity Commitm
Slide 21: Thank you
Thank you www.temenos.com
Slide 22: Delivering innovation
Delivering innovation Mark Winterburn, Group Product Director
Slide 23: Agenda
Agenda 1 We have the solutions to meet the industry’s needs 2 We will continue to out-innovate our peers 23
Slide 24: Banking as it used to be
Banking as it used to be 1 Low customer switching 2 Regulation 3 High start-up costs 4 Branch networks High barriers to entry protecting margins 24
Slide 25: Banking now
Banking now 1 Price transparency 2 Multi-channel banking / internet 3 Regulation 4 Cloud 5 Diminishing customer loyalty The moat has disappeared 25
Slide 26: We have the solutions to meet the industry's needs
We have the solutions to meet the industry’s needs Efficient Omnichannel IT solutions delivering 60% higher Great, consistent user experience across IT efficiency ratios all channels Analytics Agile Fastest time to value, best success The best product-building capabilities rate on analytics in our i
Slide 27: The legacy challenge
The legacy challenge IT as a % of total costs 14% 12% The systems architecture of the 10% typical lender is 8% like a gothic house 6% of horror. 4% Martin Taylor Former CEO of Barclays 2% 0% Source: BCG The question is when, not if, and urgency growing 27
Slide 28: Core renewal
Core renewal Solution broad and integrated All deployment options Progressive renovation Rich processes & workflow engine All hardware stacks Frameworks WeWe offer offer thefastest fastestand andlowest lowestrisk riskoption optioncreating - creating most most value value 28
Slide 29: Core renewal
Core renewal Return on assets of banks using legacy systems vs. Temenos and other 3rd party software 1.2% 1.0% 25% 30% 0.8% 0.6% 0.4% 0.2% 0.0% Legacy 3rd Temenos systems Party Source: IBS, The Banker, Temenos, Deloitte Temenos customers spend 60% less on IT than the industry 29
Slide 30: Digital channels – challenges and opportunities
Digital channels – challenges and opportunities Explosion in smart devices Banks can take out 20 – 25% of their cost base by leveraging this digital shift to transform how they 1 billion process and serve. Predicted smartphone shipments in 2014 McKinsey 49% Banks are leaking as much as 80% of leads
Slide 31: Temenos Connect
Temenos Connect 50% Organisations with a need to create better user experiences for new channels of Savings on maintenance costs interaction within short with Temenos Connect timeframes; and those seeking innovative ways to 85% leverage numerous, heavy and inflexible legacy systems …should look at T
Slide 32: Digital channels - Metro Bank
Digital channels - Metro Bank User experience as a differentiator 32
Slide 33: Digital channels - Metro Bank
Digital channels - Metro Bank Customer journeys designed for the customer 33
Slide 34: Digital channels - Metro Bank
Digital channels - Metro Bank Personalised Every service servicethrough & marketing every driving channelloyalty 34
Slide 35: Analytics – the challenge
Analytics – the challenge Customers are more demanding Banks must move from being 10% data custodians to data Customers who are likely to switch banks in the next 6 months experts. They must use analytics to improve decision- 70% making and add value to their Customers willing to provide banks with
Slide 36: Insight
Insight We witnessed a 59% increase in 1 Customer & operational Intelligence average profit per customer within the first six months of using the Insight tool. 2 Domain specific 3 Fastest time-to-value A huge strategic decision that is in the process of being implemented 4 Integrated was made in 30
Slide 37: The agility constraints
The agility constraints Complex Many banks have legacy core Systems and interfaces at a typical universal bank banking systems…where adding new products and services can take months of development and testing at considerable cost. Hani Massoud, IBM management consultant Source: BCG Making changes is
Slide 38: Arrangement Architecture
Arrangement Architecture 1 Leverages common components 850,000 2 Easy to configure new products Customers on-boarded in the first 3 weeks after launching M-Shwari New products tailored to individual 3 customers 4 Rapid product launches 2.5x BSF has been growing its asset base by 15% per year on aver
Slide 39: Banking transformation challenges
Banking transformation challenges 4.5 years 70% Average pay back period for a Failure of transformational projects core banking transformation McKinsey Capgemini Banking IT projects historically associated with high risk and slow payback 39
Slide 40: Architecture solution
Architecture solution 1 Code-free interfaces in minutes 2 Componentised Product Platform 3 Leverage existing customer investments 4 Multi-channel cross-product user agents 5 1,000x faster enquiries, 10x faster TPS 6 80% reduction in database size Delivering more value, faster and with minimal risk 4
Slide 41: Payments challenge
Payments challenge Volume has grown by roughly 24 percent over this period, yet Explosion in payments and operational cost has grown at transaction banking 18.1% nearly the same rate, clearly indicating that scale effects have been negligible. Predicted growth rate of M-payment transactions in 2014
Slide 42: Temenos Payment Suite
Temenos Payment Suite Channel agnostic Brand new Built for banks by banks Any instrument, scheme, and Incorporates best practices of ABN AMRO co-development transaction can be handled hub design and latest ensures scalability and high over any channel technology quality Linear condition driven Highl
Slide 43: Agenda
Agenda 1 We have the solutions to meet the industry’s needs 2 We will continue to out-innovate our peers 43
Slide 44: Track record of innovation
Track record of innovation Windows SOA XML Open Multi 24/7 Process Models Cloud Platform Integration GUI Database entity Workflow Framework Framework 1993 2013 Retail banking, Corporate banking, Treasury, Lending, Payments back office, Securities Trade finance Front office – CRM Internet banking Ins
Slide 45: The highest R&D in the industry
The highest R&D in the industry 30 25 20 % of revenues Temenos spends on average 20% 15 of sales on R&D 10 Source: Company Annual 5 Reports, Temenos estimates 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 *Normalised cash R&D – adjusted for difference between capitalisation and amortisati
Slide 46: Product strategy and development
Product strategy and development Build 1500+ R&D team CMMI certified Domain experts We understand the Qualification, market needs validation, approval Buy Minimal overlap Customer base Modern technology The products the market wants with best value-creating potential 46
Slide 47: Summary
Summary Market demands Maintaining our product leadership Efficiency Culture of innovation Omnichannel capabilities Great people Analytics High R&D spend Agility Maximum re-use Strong process and governance Best products and most exciting product roadmap in the industry 47
Slide 48: Thank you
Thank you www.temenos.com
Slide 49: Making payments pay
Making payments pay Amanda Gilmour, Payments Product Director Jost Hoppermann, Forrester
Slide 50: A Quick Look At Payments
A Quick Look At Payments Jost Hoppermann, VP February 19, 2014
Slide 51: Retail And Wholesale Payments
Retail And Wholesale Payments Wholesale Average value per transaction Retail Number of transactions Illustrative © 2014 Forrester Research, Inc. Reproduction Prohibited 51
Slide 52: Where Do Banks Typically Start Change?
Where Do Banks Typically Start Change? Top Ten Initial Focal Points For Transformation 1 • Core banking 2 • Analytics/BI 3 • Transformational architecture 4 • Mobile banking 5 • Multichannel enablement • Regulatory compliance 7 • CRM 8 • Central customer / party data management 9 • Risk management 1
Slide 53: Where Do Banks Typically Start Change?
Where Do Banks Typically Start Change? Top Ten Initial Focal Points For Transformation 1 • Core banking 2 • Analytics/BI 3 • Transformational architecture 4 • Mobile banking 5 • Multichannel enablement • Regulatory compliance 7 • CRM 8 • Central customer / party data management 9 • Risk management 1
Slide 54: Where Do Banks Typically Start Change?
Where Do Banks Typically Start Change? Top Ten Initial Focal Points For Transformation 1 • Core banking 2 • Analytics/BI 3 • Transformational architecture 4 • Mobile banking 5 • Multichannel enablement 7 • CRM 7 8 • Central CRM customer / party data management 8 10 • Internet Central customer bankin
Slide 55: Where Do Banks Typically Start Change?
Where Do Banks Typically Start Change? Top Ten Initial Focal Points For Transformation 1 • Core banking 2 • Analytics/BI 3 • Transformational architecture 4 • Mobile banking 5 • Multichannel enablement 7 • CRM 8 • Central customer / party data management 10 • Internet banking • Payments © 2014 Forre
Slide 56: Where Do Banks Typically Start Change?
Where Do Banks Typically Start Change? Top Ten Initial Focal Points For Transformation 1 • Core banking • Transformational architecture 3 • Transformational Payments architecture • Payments © 2014 Forrester Research, Inc. Reproduction Prohibited 56
Slide 57: Global banking platform deals survey
Global banking platform deals survey 2013 55% of counted deals included core banking functionality 17% of counted deals included retail-payment banking functionality 27% of counted deals included non-retail payment functionality Base: 1,633 submitted global banking platform deals © 2014 Forrester Re
Slide 58: 85% don't!
15% of decision makers in financial services say: “We prefer mainly in-house-developed applications with a low share of off-the-shelf applications.” 85% don‘t! © 2014 Forrester Research, Inc. Reproduction Prohibited 58
Slide 59: The Evolution Of Business Applications
The Evolution Of Business Applications Buy vs. build Buy plus build © 2014 Forrester Research, Inc. Reproduction Prohibited 59
Slide 60: The transformation imperative
74% of business application decision-makers in The banking say: “We are working on a major transformation transformation initiative or plan to do imperative so by 2016 the latest.”
Slide 61: Thank you
Thank you Jost Hoppermann +49 699.592.9837 JHoppermann@forrester.com 61
Slide 62: Making payments pay
Making payments pay Amanda Gilmour, Payments Product Director
Slide 63: Why payments?
Why payments? USD 6bn market opportunity Growing fast with an estimated 5-year CAGR of 9.6% Market opportunity Increased financial inclusion driving growth in overall payments – 8.8% annually Online shift – m-payments and e-payments growing at 58.5% and 18.1% p.a. in 2014 We are experts in banking U
Slide 64: The market opportunity
The market opportunity Target market Banks 1.3bn 1.7bn Clearing houses 0.9bn Service bureaus 1.5bn Pricing model 0.5bn ILF ASP Source: IDC, CEB, Temenos estimates Target market for payments is as large as core banking 64
Slide 65: Why now?
Why now? TPS Opportunity for co-development with ABN AMRO 65
Slide 66: What is TPS and how is it built?
What is TPS and how is it built? • Temenos Payment Suite is a payments hub • Allows financial institutions’ customers to make any type of payment, in any form or currency, to any payee • Sold to institutions with complex payments needs • Built using agile methods – built in just 18 months • Built to
Slide 67: Where does TPS sit?
Where does TPS sit? or Service Teller/Branch Internet Mobile Cash Card ATM Operators POS/Internet ATM Telecoms Network Financial Institution Network Scheme TPS owner Paypal or The whole payments industry is worth c. USD 1 trillion 67
Slide 68: Why do banks need TPS?
Why do banks need TPS? Banking revenues from payments are growing fast… 10% CAGR to 2022 for banking revenues generated from payments. BCG …but costs grew as fast as revenue Volume has grown by roughly 24 percent over this period, between 2007 and 2012 yet operational cost has grown at nearly the sa
Slide 69: Competitors
Competitors Dovetail ACI Fundtech Clear2Pay Global presence Multi-product Universal payments process Payment hub* Extensive partner ecosystem** *As defined by CEB**Extensive partner ecosystem defined as having more than 10 services partners, as per I
Slide 70: Universal payments process
Universal payments process Illustrating the Universal Payments Process which evidences the supply chain nature of the product. In addition clearly showing the principles of components 70
Slide 71: Go-to-market
Go-to-market Development Launched to Recruitment of Launched to Market-building Go-Live date Target for first agreement industry specialist sales sales activities (ABN AMRO) new customer with ABN analyst, press initiated commence May 12 Sept 13 Dec 13 Jan 14 Mar 14 Jun 14 Dec 14 • Sales cycle is 12
Slide 72: Summary
Summary Ground-breaking payments hub, exactly aligned to market needs 72
Slide 73: Thank you
Thank you www.temenos.com
Slide 74: Delivering client success
Delivering client success Mike Davis, Client Director
Slide 75: 2013 review
2013 review We delivered more projects Time to go-live for our projects was reduced We grew “premium” services Our partner model delivered and was scaled We improved the governance of projects A year of successes 75
Slide 76: A record year for go-lives
A record year for go-lives 132 Total Go Lives in 2013 • 38 full implementations • 48 phased implementations • 45 upgrades 132 Go-Lives in • 1 insurance go live 2013 76
Slide 77: Our strategy has delivered client success
Our strategy has delivered client success Highest levels of execution Regional delivery Reducing implementation times Accountability within the regions Delivery excellence Global support remains Referenceability Rich methodologies and model banks Supportive partner model “Premium” services Implement
Slide 78: Highest levels of execution: reducing time to go-live
Highest levels of execution: reducing time to go-live Model Bank….TIM….Country platforms….Partners….Integration framework Continual enhancement Risk reduction Implementation time - months 20 Product centricity Customer success 15 10 5 2008 2009 2010 2011 2012 2013 2014 Average implementation times a
Slide 79: Highest levels of execution: centres of excellence
Highest levels of execution: centres of excellence 1 Accelerate growth of implementation 2 Field-driven product improvement skills and knowledge 3 4 Knowledge sharing in the Temenos Business and solution development Delivery Ecosystem Connecting partners, services and product 79
Slide 80: Case study: Metro Bank UK – Retail IB case study
Case study: Metro Bank UK – Retail IB case study We’re absolutely delighted to launch Upgrade to Personal Banking platform – replacing ARC IB our new internet banking platform to our personal customers. We’ve listened • Provides Metro with a solid user experience extensively to feedback from our pla
Slide 81: Supportive partner model: a win-win relationship
Supportive partner model: a win-win relationship USD1bn Revenue opportunity The value of services opportunity around Temenos applications Self-sustaining People Generate Investment sales, deliver • Consultants growth in key • Pre-sales geographies and segments Partners implementing and selling – now
Slide 82: Supportive partner model: reducing Temenos headcount
Supportive partner model: reducing Temenos headcount “Implementation” “Expert” Total Total From 2010 headcount consultants headcount go-lives vs 2010 vs 2010 vs 2010 2012 Down 10% Up 19% Down 8% 89 2013 / 14 Down 31% Up 52% Down 21% 132 Headcount down…. but more go-lives than ever 82
Slide 83: Supportive partner model: improving governance
Supportive partner model: improving governance Monthly Regional IPRs Regional Governance Reviews Regional Services Scorecards Regional Scorecards Ensuring consistent delivery 83
Slide 84: "Premium" services: productised services covering all products
“Premium” services: productised services covering all products Client Architect Service T24 Private Wealth Productised Services for Productised Services Productised Services All Temenos Products Performance Healthcheck Triple’A Plus Performance Insight Model Version Delivery Upgrade Assessment Tripl
Slide 85: "Premium" services: what our clients say about Expert Services
“Premium” services: what our clients say about Expert Services We wish we’d known about this a long time ago Having used the system for around a decade, we thought we understood the system very well. John Mitchell National Bank of Malawi Whilst the Temenos specialist confirmed our views, we also rea
Slide 86: Case Study: Unibank, Accra, Ghana
Case Study: Unibank, Accra, Ghana • Progressive Expert and Productised Services to optimise use of our products • Driven by Client Architect engagement with client, local partners and database T24 Performance Healthcheck 2012 Client Architect engagement 2013 Thanks to the progress Database conversio
Slide 87: Case Study: Temenos Client Architect
Case Study: Temenos Client Architect • Our most experienced and respected consultants • Trusted advisor to our clients • Focused on optimal use of our products, now and in future The service we received from the Client Architect Quick time to value. Within two days, you are was beyond our wildest dr
Slide 88: Case study: T24 performance optimisation
Case study: T24 performance optimisation • Over 70 assignments delivered • High impact, high value, two week engagement at premium rates • 70% reduction in daily COB time from 14 hours to 4.5 hours at NIC Bank, Kenya • 82% improvement in transaction time at National Bank of Malawi, from 5.5 seconds
Slide 89: Summary
Summary Services Partners A strong 2013 The model is delivering • More projects delivered • Growth in partner resource • Growth in “premium” services • Increase in ILF brought by partners • Implementation times reduced • Improved governance of partner- led projects No change to the strategy which is
Slide 90: Thank You
Thank You
Slide 91: Financials
‘é TEMENOS Financials Max Chuard, CFO 4
Slide 92: Medium term targets announced in February 2013
Medium term targets announced in February 2013 Non-IFRS revenue growth of 5%+ pa with • Licence growth of 10%+ pa • Services contributing 20% to 25% of group revenue and be profitable Non-IFRS EBIT margin improvement of 100 to 150bps on average pa Cash conversion over 100% pa DSOs reducing by 10 to
Slide 93: Q4 and FY 2013 financial KPIs
Q4 and FY 2013 financial KPIs LFL licence revenue Services Q4 up 15% FY services revenue down 9% FY up 10% FY services margin up 7% Non-IFRS EBIT (and margin) Non-IFRS EPS Q4 up 11% (margin up 1.1% pts) Q4 up 3% FY up 30% (margin up 4.9% pts) FY up 36% Cash Leverage USD 169m of operating cash flow i
Slide 94: 2014 guidance
2014 guidance Software licensing growth of 10% to 15% (implying software licensing revenue of USD 152m to USD 158m)* Non-IFRS revenue growth of 5% to 10% (implying revenue of USD 491m to USD 515m)* Non-IFRS EBIT margin of 25.1% (implying non-IFRS EBIT of USD 123m to USD 129m)* 100%+ conversion of EB
Slide 95: Delivering on our medium term targets
Delivering on our medium term targets Software licensing Services Margin Cash & DSOs Faster recovery Higher growth of Faster improvement Faster recovery in Europe “premium” services in revenue mix of old balances Return of larger Faster shift of Faster improvement More sales to existing core banking
Slide 96: Growth in 2014 and beyond
Growth in 2014 and beyond By geography By product • Europe continuing to grow • Core banking continuing to grow • MEA and APAC biggest contributors to • Contribution from multi-product offer to growth increase from 25% in 2013 to 30% in 2014 • Strong growth from Americas but from a • Strong growth f
Slide 97: A view on costs
A view on costs Cost breakdown • Cost of services falling as % of revenue: focus on “premium” services and leveraging fixed Cost of Services R&D G&A S&M costs 100% • R&D falling as % of revenue (although increasing in actual amounts): exploiting 80% scale synergies and productivity improvements and
Slide 98: Year-on-year margin expansion
Year-on-year margin expansion 100-150bps of margin expansion on average per annum in the medium term Margin improvement to be driven by • better revenue mix • improving services margin • economies of scale Due to the headwind in 2014 and 2015 of increased amortisation of capitalised development cost
Slide 99: High quality earnings
High quality earnings 100%+ conversion of EBITDA into operating cashflow DSOs driven by quality of earnings 250 • EBITDA growing faster that EBIT • cash growing faster than profit 200 150 10 to 15 days reduction in DSOs per annum driven by • reducing implementation time 100 • higher proportion of sa
Slide 100: Financial flexibility
Financial flexibility Use of funds Temenos is highly cash generative with a strong balance sheet which enables investment in the business as well significant cash return to shareholders Preference for M&A over returning additional capital to shareholders, providing suitable acquisition opportunities
Slide 101: A three-pronged approach to M&A
A three-pronged approach to M&A Increased scale Accelerated growth in key markets and A three-pronged segments approach Complementary products 2007 2008 2009 2010 2011 2012 2013 101
Slide 102: M&A criteria and pipeline
M&A criteria and pipeline Strong financial metrics • EPS accretive within 12 months • IRR of at least 13% Most attractive and synergistic areas are • Core banking • Payments • Wealth management • SaaS / Cloud Good pipeline of opportunities • Broad geographic and market spread • Range of values, with
Slide 103: Key takeaways
Key takeaways • We have delivered on our commitments • Our market opportunity is massive… and has increased with the launch of TPS • The industry is undergoing a structural shift - the fundamental growth drivers remain • We have the solutions to meet the industry’s needs and a compelling roadmap • T
Slide 104: Thank you
Thank you www.temenos.com