Kommuninvest selects Profile’s Finuevo Core to modernise public sector lending

By Gloria Methri

Profile, a provider of financial software solutions, has announced that Swedish public-sector lender Kommuninvest has selected its Finuevo Core banking platform to enhance operational efficiency and support future growth.

Kommuninvest, headquartered in Örebro, is jointly owned by 281 municipalities and 15 regions, and is Sweden’s largest provider of public investment finance. The institution, which holds AAA credit ratings, manages approximately €50 billion in loans and total assets of €55 billion, representing close to 60% of Sweden’s total municipal investment financing.

The selection follows a competitive international procurement process designed to identify a core system capable of supporting the lender’s objectives regarding cost efficiency, sustainability, and stability in public sector funding. Profile’s Finuevo Core was chosen to replace Kommuninvest’s existing infrastructure with a more streamlined, scalable platform that integrates with current systems, supports regulatory compliance, and enhances lending and payment processes.

The project scope encompasses the full implementation of the core banking solution, along with ongoing support. Profile, which operates in the Nordic region through its subsidiary Profile Centevo, will provide localised delivery and services.

This development marks the latest step in Profile’s efforts to expand its presence in the Nordic and broader European markets, reflecting increased interest from regional institutions in upgrading to cloud-native, modular banking technologies.

David Ljung, Chief Lending and Advice Officer at Kommuninvest, said, “We are excited to partner with Profile, a technology supplier with strong credentials and technical expertise. Finuevo Core will allow us to modernise and streamline our lending operations, supporting our mission to provide cost-efficient and sustainable financing solutions to our members with enhanced speed and precision.”

Evangelos Angelides, Chief Executive Officer at Profile, stated, “We are honoured that Kommuninvest has selected our Finuevo Core solution to power its critical operations. This strategic partnership marks a key milestone in our Nordic expansion journey, reinforcing our position as one of the leading European providers of financial software. Finuevo Core, which forms part of our innovative Finuevo Suite platform, is an award-winning, advanced and integrated banking solution that empowers forward-looking institutions like Kommuninvest to thrive in today’s fast-changing financial environment.”

Profile continues to drive innovation in financial services by offering cloud-based, integrated solutions that enhance operational efficiency, ensure regulatory compliance, and support client success across the Nordics and globally.