ZURICH (Reuters) – Swiss banking software supplier Temenos expects a bigger share of its revenue to come from the United States, Canada and South America in the years ahead, Chief Executive David Arnott said on Wednesday.
Geneva-based Temenos now generates 15-20 percent of its turnover in North and South America, most of which comes from Canada and Latin America, Arnott told Reuters in an interview.
Having signed contracts with Ally Financial and Commerce Bank last year and after announcing on Thursday a contract with a U.S. digital bank for “core banking in the cloud”, Arnott saw this share going up.
“It has a huge potential as a market and we expect the revenue mix to shift towards the Americas over the medium term.”
In the United States, Arnott said Temenos was targeting banks with more than $10 billion in assets.
Elsewhere in its earnings, Temenos said third-quarter IFRS revenue rose to $186.3 million from $160.6 million a year earlier. The company also raised its outlook for 2017 and announced a share buyback.
(Reporting by Joshua Franklin; Editing by Michael Shields)