Profile, a leading financial solutions provider, has announced the extension of the term of its contract with Allica Bank, which has been based on the strong relationship and fruitful collaboration between the two parties.

Since obtaining its banking license in September 2019, Allica Bank – the financial technology (fintech) challenger bank aimed at established SMEs – has successfully launched and scaled its core deposits and commercial lending on Profile’s core banking platform.

Allica Bank has 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 highly 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.

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

The adaptation to Allica’s evolving needs has been a top priority for Profile in order to meet the bank’s expectations and support their growth plans.

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.