Capgemini has announced the acquisition of Thesys Technologies in a bid to expand its global delivery capabilities for the Temenos-enabled core banking front-to-back solutions and product offerings, such as retail, corporate, universal, private wealth management, Islamic banking and microfinance to financial institutions.

The move as well bolsters Capgemini’s position as a leading core banking and wealth management service provider. Thesys’ highly specialized service delivery infrastructure will expand the scope of Capgemini’s offerings in the Middle East, Asia-Pacific and Latin America and will strengthen its position in the packaged core banking platform market, said the firm.

Its portfolio of services complements Capgemini’s vast financial services sector expertise in business and IT services and its industry leading data migration, testing and project management services. The acquisition of Thesys, to become part of Capgemini’s current offering, should provide Temenos’ current and prospective clients with the opportunity to significantly accelerate speed to market mitigate risk and enhance operational efficiency.

Thesis Technologies chief executive officer Tirunelveli Sivaramakrishnan Jeyaraman said Thesys has delivered the highest levels of Temenos implementation services for over a decade. Combining Thesys’s offerings with Capgemini’s global delivery model will create the industry-leading delivery platform of choice for Temenos-enabled core banking and wealth management implementation services, said Jeyaraman.

Aiman Ezzat, Chief Executive Officer of Capgemini’s Financial Services Global Business Unit said the acquisition of Thesys enables Capgemini to create value for more than 700 existing Temenos clients as well as a large prospective client base. This acquisition helps ensure that Capgemini will maintain a leadership position as a trusted business and technology solutions partner in the retail banking and wealth management market segments.

Thesys Technologies, with more than 300 employees has significant experience in offering end-to-end Temenos services including implementation, training, testing, upgrades, product customization, support and maintenance and runs a specialized service delivery platform for T24 – an advanced banking system.

Andreas Andreades, Chief Executive Officer of Temenos added that given its global reach, rich domain expertise and international standing, the partnership with Capgemini is extremely important for Temenos and will help us offer our customers best-in-class business management and project delivery skills.

Thesys has been an important, highly valued and trusted services partner of Temenos and has been providing qualified services for some time, he said. Capgemini’s acquisition of Thesys establishes an exceptionally strong global delivery infrastructure for Temenos and we look forward to working with Capgemini to develop this even further for the benefit of our customers, both existing and new, added Andreades.

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