digital operations Mercedes-Benz Bank


originally took Spectrum to


manage its consumer lending departments in Poland and Greece. The bank went live with the system at the beginning of 2007. The selection came down to three companies (one was international and one was a local supplier) but the final assignment went to Profile. Profile was actually selected to implement the system across eleven countries although a management decision saw the group drop this project, the vendor stated. FMS.next made headway in 2008, picking up a further


three customers. First Business Bank (FBBank) in Greece selected FMS.next for leasing operations. The bank’s license was revoked in May 2013 and its assets and liabilities were transferred to NBG. BNP-Paribas Securities in Greece has a reporting component of FMS.next. Another major client for FMS.next was RBS local office to perform all core banking operations replacing a competitive one and act as the archiving system to offer Integration with the Bank’s productive systems to handle real time enquiries send reports to state authorities on customer activity, effectively combining information from different environments. The system offered powerful report generator. FMS.next can provide for Islamic Banking functionality while it also offers multi-currency capabilities and product factory to create new products fast accommodating local market needs in the Middle East and surrounding regions. Profile has already grown its user base of its products


across Europe, the Middle East, Africa and America. The vendor already has clients


in Albania, Cyprus, France,


Romania, Switzerland, France, the UK as well as the UAE, Qatar, Saudi Arabia, Nigeria, Costa Rick, Peru, Bahamas and more.


FMS.next, is targeted at all sizes of banking institutions,


which are looking to cover their operations in terms of core, digital private and Islamic banking facilities, credit facilities, leasing, autofinance, loan origination, and customer management, through an integrated whilst modular platform. Support for treasury and trade finance is achieved through Acumennet that has been added in the company’s portfolio offering through the acquisition of Login and partnerships, respectively. FMS.next as a major upgrade was launched in spring 2013. It is designed with the Windows Presentation Foundation (WPF), uses Microsoft’s Silverlight framework and ClickOnce technology, and is available on all standard databases, such as MS SQL, Oracle and DB2., . It is available as a desktop web or mobile application. Profile described this development as ‘a major technological upgrade of FMS’. It addresses the market’s demand for componentised and flexible solutions. By mid-2013, two challenger banks and alternative


financial institutions were implementing components of FMS. next. One of these was Elevate Capital, a greenfield lending Fintech entity in the UK, with FMS.next constituting the transaction engine to manage the full process of P2P Lending. The other was Credins Bank in Albania, which is a long- standing FMS.next user for the collections functionality, and is gradually moving to the FMS.next version. RBS in Greece also has a small component of FMS.next to access data from its old Misys Equation system and provide reporting to the Greek Ministry of Finance to comply with recent legislation. In June 2013, a private bank in Switzerland deployed Profile’s platforms to support its wealth management, internet and mobile banking operations.


Main focus at the time was the UAE and Swiss regions (private banks), ‘alternative finance’ companies, including peer-to-peer lenders, and also on private banks and banks with Islamic windows in the UK and the Channel Islands In August 2015, Elevate Capital, a real estate crowdfunding


company, was the first live UK customer for Profile Software’s peer-to-peer (P2P) lending platform. The platform is based on the vendor’s long-standing core banking system, FMS. next. Elevate is a start-up and chose FMS.next for the launch of its web-based investment and fundraising operations. FMS.next’s core engine is a combination of investment management and banking modules. Profile says the solution incorporates a workflow engine for originating and progressing transactions, credit scoring, risk management and fully automated loan procedure. FMS.next has also been selected by a UK based challenger bank and later on by the pension-fund owned lender, Fiduciam Holdings. The vendor has developed its implementations since then


with the most recent being Ditto bank, a French digital mobile bank who according to their CEO selected Profile and FMS. next as the backbone of their operations due to the flexibility and team work provided, as he states. The Profile system was chosen to provide a range of multicurrency online banking services. It supports the bank’s core operations, which is money transfers and payments. Ditto Bank is backed by the Banque Travelex SA, a subsidiary of Travelex Holdings, and the UAE exchange. FMS.next Marketplace Lending has been implemented in Fiduciam (UK) this pioneering alternative finance lender offering marketplace lending services to entrepreneurs and small and medium-sized enterprises. They offer flexible, efficient and competitive approach to lending by taking advantage of new technology.


Other clients using the fully flexible edition of FMS.


next are located in Europe and the Middle East, achieving company’s objectives for international expansion through product development.


Back Office Systems & Suppliers (BOSS) | www.ibsintelligence.com 599


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