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eNewsletter Autumn 2016, the core banking platform developed by Profile Software, has been recently enhanced to deliver advanced functionality for digital banking, risk management and payments creating a competitive offering for digital and challenger banks.

The FinTech landscape has received a great interest from major research firms such as EY and Innovate Finance highlighting the benefits of banking institutions collaborating with FinTech companies. In addition, challengers banks are considered a significant part of the FinTech environment, as it was recently presented in the Burnmark report. They also need to have an active support from Regulators. FinTech accelerators, regulatory sandboxes as well as fast track authorisation are in place to further support the evolution of FinTech and the rising trend of challenger banks.

Having a long-standing presence in the banking industry developing advanced and pioneering solutions (such as P2P Lending), which proactively respond to market needs, Profile has significantly enriched its core banking platform, with functionality that effectively accommodates the needs of modern banking institutions that want to advanced their operations and customer service.

The enriched payment capabilities support multiple networks (users, payment channels and interbank networks), within the demanding and fast-evolving global financial arena. Domestic and international fund transfers are fully managed, while the full cycle of payments and workflows is being automated and monitored.

In addition, deriving from many years of experience in risk management implementations, the enhanced risk management capabilities of the platform enables coverage of operational, market and credit risk management as well as regulatory capital calculation allowing the bank to obtain a single view of risk articulated across the entire organisation.

Furthermore, has been enhanced to deliver faster processing capabilities in a multi-channel environment when utilised in a digital or challenger bank and has also been improved in its Alternative finance offering to effectively accelerate the operations of innovative FinTech organisations. The criteria of advancements are pertinent to exceptional customer experience and flexibility in operations.

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