Allica Bank goes live on Profile platforms

via FinTech Futures

UK-based Allica Bank has implemented Profile Software’s FMS.next and RiskAvert platforms to support its core banking and risk management.

Allica focuses on serving small and medium-sized enterprises (SMEs). It gained a licence from the UK’s Prudential Regulation Authority (PRA) in September 2019.

FMS.next will manage the bank’s savings accounts and commercial mortgage lending to customers.

The two systems are live on Microsoft Azure,  “a critical component” of the bank’s architecture.

Formerly known as CivilisedBank, Allica originally opted for a packaged solution from local consultancy firm, Tusmor.

The package consisted of FMS.next, Dovetail (now Fiserv) for payments, Sphonic for risk management, and Aqilla for accounting.

“We have been working with Profile as a trusted partner to support us in the build of Allica Bank since the beginning,” says Simon Bateman, CIO at Allica Bank.

“We collaborated closely with their team to deliver on ambitious targets, all within a very short timescale.

“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.”

Allica plans to roll-out further Profile solutions, including treasury management platform Acumennet and further FMS.next payment services.

Babis Stasinopoulos, CEO at Profile Software, says his firm was able to “quickly deliver a powerful system that meets client expectations.”

He adds: “We consider Allica in the UK as a long-standing partner and valued customer working together to create the next generation of digital SME banking.”