U.K. challenger bank Allica Bank has launched using Profile Software‘s banking programs in order to ensure small- to medium-sized business (SMB) customers a way to manage their banking and risk operations, according to a press release.
Allica Bank will use Profile’s FMS.next as its core banking platform. The program will “support their omnichannel digital banking experience,” including mortgage lending and managing savings accounts.
Allica Bank also plans to introduce new services in 2020, including Acumen, a treasury management platform, along with FMS.next payment services, the release states, helped along by Profile’s speedy methods of putting new programs in place.
Profile’s services are deployed through the Microsoft Azure Cloud and were integrated “with international systems and vendors for authentication services, credit control, KYC/KYB/AML and MIS Reporting,” according to the release.
Allica Bank Chief Information Officer Simon Bateman said the bank has “been working with Profile as a trusted partner to support us in the build of Allica Bank since the beginning.”
“We collaborated closely with their team to deliver on ambitious targets, all within a very short timescale,” Bateman said, according to the release. “They will continue to support us as we expand Allica Bank’s suite of financial products that are dedicated to the needs of small- and medium-sized businesses.”
Babis Stasinopoulos, Profile Software CEO, said the company intends to help banks unlock cloud-based tech and to achieve any number of goals through Profile’s flexible nature.
“At Allica we managed to quickly deliver a powerful system that meets client expectations,” he said, according to the release, adding that Allica Bank is working to help “create the next generation of digital [SMB] banking,” a goal which Profile found laudable.
Allica Bank was cleared for launch in September, PYMNTS reported, and the company billed itself as a resource for smaller community banks looking to access loans, payment services, savings solutions and more.
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