Hudson Sandler called in for Swiss Temenos brief

Swiss banking software firm Temenos has turned to Hudson Sandler to raise its profile in the financial press.

The blue chip firm is listed on the Swiss Stock Exchange with a market capitalisation of around £950m.

'Temenos has made fantastic progress in terms of growing the business and creating shareholder value,' said Temenos investor relations manager Ben Robinson. 'The next challenge for us is translating our financial performance into a more prominent media profile.'

The bank posted a large rise in revenue and profits for 2007. It also thinks it will perform well this year despite the credit crunch.

Fears that banks will cut back on IT spending have been growing since the credit crisis in August last year. Already, major banking IT clients such as Tibco and Detica have noted declines in revenue from investment houses.

Temenos makes much of the fact its only domain is banking software and says its success is based on that arena. If the credit crunch did affect bank IT spending, then it would be one of the major sufferers.

But at the moment Hudson Sandler will be able to tell journalists and stakeholders that Temenos is posting impressive income growth. The Geneva-based firm reported an 88 per cent rise in net income to £32.5m for the full year 2007, compared with £17.3m in 2006.

Last month Temenos picked up a large contract from Swedish Swedbank to support its Finnish corporate banking operations, including internet banking capabilities. The contract was signed in September, and the project is expected to go live later this year.

The IT system used by Swedbank is proving popular. According to Temenos 36 new clients used T24 in 2007.

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