Geneva-based banking software company Temenos' second-quarter earnings have been bolstered by new clients, and it is now re-organizing its sales management.
Temenos’ earnings before interest and taxation (EBIT) rose 13 percent on the year to $85.9 million after its total revenues grew 9 percent to $236 million, the company said in a press release Thursday.
The growth in earnings was driven by increased demand for banking software, cloud services and software as a service and came about even though the company is transitioning to a SaaS provider.
This sector posted a particularly strong performance, with annual contract value surging over fivefold on the year and growth particularly strong in the U.S.
The company also booked 16 new clients during the quarter.
New Sales Managers
In a separate press release Temenos said its had strengthened its Executive Committee to accelerate business growth and ensure it was best placed to capture the market opportunity in cloud banking and SaaS.
Martin Häring, Jean-Paul Mergeai and Phil Barnett will join the executiv committee with immediate effect.
Häring joins the company as chief marketing officer from Linux distributor Red Hat.
Mergeai has been appointed president of international sales.
Barnett as president of strategic growth will be responsible for relationships with key clients.
