Profile Software extends core banking relationship with Allica Bank

By Gloria Methri

Financial solutions provider Profile Software has announced the extension of the term of its contract with Allica Bank, the FinTech challenger bank aimed at established SMEs. Since obtaining its banking license in September 2019, Allica Bank has launched and scaled its core deposits and commercial lending on Profile’s core banking platform.

The bank recently exceeded £2 billion in deposits alongside more than £1 billion in lending on the platform, becoming one of the fastest-growing UK FinTechs to also achieve profitability in the summer of 2022.

Finuevo Core enables Allica Bank to benefit from a modular component-based architecture that allows easy implementation for banking operations, offering an end-to-end banking experience. The easily configurable and scalable environment provides an instant, multi-level overview of operations, built around the bank.

Profile states that the adaptation to Allica’s evolving needs has been a top priority for the company, to help meet the bank’s expectations and support its growth plans.

The extension of the bank’s collaboration with Profile will provide extra flexibility and enable the bank to proactively meet the market’s evolving demands.

Founded in 1990, Profile is a specialised software solutions provider delivering n solutions to the Investment Management and Banking industries. Its solutions enable organisations to align their business and IT strategies, whilst providing the necessary business agility to proactively respond to the ever-changing market conditions.

Profile’s software solutions are becoming the preferred choice for financial institutions around the world. Through continuous evolution and rich functionality, they offer a unique experience, creating unparalleled client value.