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MetraTech's Metanga to Monetize Cloud Banking Application for TemenosSolution for Windows Azure Enables Temenos Global T24 Rollout (February 13, 2012)
WALTHAM, MA -- (Marketwire) -- 02/13/12 -- MetraTech Corp., the leading provider of agreements-based billing (ABB) and compensation solutions, today announced the selection of Metanga, its multi-tenant, cloud-based billing application, as the monetization and billing system for the Temenos T24 cloud-banking offering. The first of its kind, T24 is a public cloud banking platform operating on the Windows Azure platform in support of microfinance and community banking organizations. Temenos supports more than 1,500 customers and is a leading provider of banking software systems to retail, corporate, global, private, microfinance and community banks. The company selected Metanga because of the solution's ability to market-enable Windows Azure applications, allowing rapid monetization and adoption of T24 in new microfinance markets worldwide.
While movements like Occupy Wall Street (OWS) have challenged the inequalities of established financial models, microfinance enables low-income households to have permanent access to a range of high quality and affordable financial services to finance income-producing activities, build assets, and improve standards of living.
"Temenos' mission is to not only develop leading technology, but also to leverage that technology to do good. Our collaboration with Microsoft and MetraTech lets us cost-effectively deliver, by the cloud, our application to those focused on improving lives," said Murray Gardiner, director of community banking and cloud services.
"Billing management is a key function for software companies in the cloud," said Kim Akers, general manager for ISV partners at Microsoft Corp (NASDAQ: MSFT). "Having Metanga and Temenos both use Windows Azure while delivering a cost-effective tool to improve lives around the globe is validation of the power of cloud-based services to help people."
A business unit of MetraTech Corp., Metanga provides Microsoft's independent software vendor (ISV) customers with the shortest path to monetization of their cloud-based offerings. Metanga provides management of customer enrollment, product catalogs, pricing, promotions, invoicing, customer self-care and payment capture for financial and emerging business verticals. It is designed to facilitate consumption-based billing for online applications that require more than simplistic recurring credit card billing.
Scott Swartz, CEO of MetraTech, said, "Temenos' selection of Metanga echoes the growing call from the industry for better cloud monetization solutions. This is an opportunity for us to help Temenos go to market with its software-as-a-service (SaaS) offerings and to more effectively serve emerging microfinance markets via cloud-based tools."
MetraTech Corp. offers an innovative approach to billing, compensation and self-care. We empower organizations to embrace change through a unique agreements-based billing (ABB) and compensation solution that models and supports fluid, personalized multi-party agreements. We automate business processes and business models to address rapidly changing or complex business strategies. Our products are deployed globally, and our customers use MetraTech to securely collect revenue, compensate partners and manage their customer lifecycles in 12 languages, 28 currencies and 90 countries. Customers include CETIP, The City of Chicago, Concur, The Depository Trust and Clearing Corporation (DTCC), Microsoft, PGi, OnStream (National Grid), and Telus. The company is headquartered in Boston, with offices in San Francisco, Munich, Paris, Rio de Janeiro and London. MetraTech is a venture-backed, privately held company whose investors include Accel Partners, Meritech Capital and Vesbridge Partners. For more information, please visit www.metratech.com and www.metanga.com.
Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group AG is the market leading provider of banking software systems to retail, corporate, universal, private, Islamic and microfinance & community banks. Headquartered in Geneva with more than 60 offices worldwide, Temenos serves over 1,500 customers in more than 125 countries across the world. Temenos' software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos' experience in over 700 implementations around the globe. Temenos customers are proven to be more profitable than their peers: data from The Banker -- top 1000 banks shows that Temenos' customers enjoy a 54% higher return on assets, a 62% higher return on capital and a cost/income ratio that is 7.2 points lower than non-Temenos customers. For more information please visit www.temenos.com
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