Financial solutions provider Profile Software has released an enhanced version of its universal banking platform FMS.next with an aim to enable the FIs in meeting PSD2 and Open Banking requirements with the availability of an industry standard API layer.

Post enhancement, as Profile states, FMS.next supports multi-channel delivery, digital payments, powerful onboarding facilities as well as covers all necessary verification and checking requirements.

According to the supplier, the banking platform will be able to accommodate PSD2 and UK compliance as well as provide an efficient way of integrating with global banking networks, facilitate information exchange and transaction initiations. The updated solution comes with a set of preloaded APIs covering requirements for directives and implementations of security mechanisms. Through an administrative and a developer’s portal offered to the Banks and the Third-Party providers respectively, the Bank has full control over the products that are offered, and how they are used by third parties.

The platform is already available in the cloud and SaaS environment.

Recently, Profile Software’s Axia omnichannel platform was selected by ‘MADA Capital’ and `Mada Financial Services’– subsidiaries of Dubai-based investment firm Primavis Capital to support their wealth and fund management operations.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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