With the acquisition of Financial Objects in 2008, the Chennai-based Indian subsidiary had set up its Bengaluru facility for product development work and providing core banking systems to financial institutions.

"As we believe our Bengaluru operations will grow faster, our staff strength will triple to 2,100 from 700 currently by 2018," Jayanthan pointed out.

Observing that India was a key region for its growth strategy, company's chief executive David Arnott said in a statement that world class talent, emerging infrastructure and global market requirements made the country a favourable market for growth and expansion.

"Our cumulative investment of $300 million since 1996 and long-term vision to further expand the Chennai and Bengaluru development centres testify our commitment to India operations," Temenos client director Mike Davis said on the occasion.

Admitting that its competitors were BFSI product of Infosys, Oracle and TCS, Arnott said India was at the centre stage of its product development strategy.

"The functionality covered by our financial product (T24) is the largest in banking software, spanning universal, retail, corporate, Islamic, wealth and microfinance," Arnott added

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