PROFILE Software, an award-winning financial solutions provider, announced that FMS.next its banking platform has been enriched to successfully meet the increasing requirements of Peer-to-Peer Lending, crowdfunding platforms, building societies, credit unions and start-up banks. Presenting the value-adding capabilities of FMS.next at a ground-breaking UK event for the alternative banking sector, the system ensures continuity, flexibility and scalability to the evolving market requirements.

The FMS.next’s latest functionalities were presented at the “Meeting the Competition Challenge with Alternative Banks and Banking Models” half day event hosted by PROFILE and organized with Tusmor, its associate in the UK. It was supported with the active contribution of esteemed speakers and industry experts, from the state regulatory authorities, start-up financial firms (new banks, building societies, credit unions and crowdfunding businesses) as well as the service providers. The intriguing presentations offered insights as to how the new alternative banking sector is expected to grow.

The FMS.next platform, presented at the end of the three panel discussions focused on the latest advanced developments with a focus on Peer-to-Peer lending and crowdfunding unique system’s functionality. The FMS.next P2P Lending solution’s core engine is a combination of investment management and banking modules, reflecting PROFILE’s proven experience in both domains. This flexible yet robust set of modules is specifically designed to effectively accommodate the particular requirements and the complexity of the new start-up businesses.

As it was unveiled during the event, the key priority for all parties invlolved is the consumer’s best interest with the options available to him/her. The regulators want to support progress creating a healthy competitive environment by removing barriers to entry while the businesses focus on delivering added-value to the growing consumer requirements utilising latest technology tools.

PROFILE’s FMS.next P2P Lending solution enables businesses to manage and monitor their processes through a modern, comprehensive and user friendly environment for both the business users and end consumers.  Particularly, the solution incorporates a powerful workflow engine to automate the lending and borrowing process, provide risk management metrics while incorporating flexible investment features for both primary and secondary market operations.

FMS.next offering for the alternative banking sector coupled with the P2P Lending solution ensures compliance to internal and external policies while enhancing productivity with its inherent STP features. In addition, future requirements that arise as the business grows and regulations change, can be accommodated easily and reliably due to the system’s modern and open architecture. These product capabilities were entrusted by a new “challenger” bank that was announced at the end of the event and a crowdfunding platform that selected FMS.next to manage their operations.