FMS.next has been enhanced to support PSD2 and Open Banking requirements

Profile Software, an international financial solutions provider, announced today the latest release of its FMS.next Universal Banking platform that provides full coverage to the needs of modern financial institutions to meet the PSD2 and Open Banking requirements with the availability of an industry standard API layer.

FMS.next is continuously being enriched with new features to support the evolving market needs such as multi-channel delivery, digital payments and powerful onboarding facilities, based on a flexible workflow mechanism covering all verification and checking requirements.

Already having a number of international implementations, the FMS.next Banking platform has been enhanced with the required functionality to accommodate compliance with PSD2 and UK specific Open Banking; it now offers a seamless and effective way for banks and Fintech firms to integrate with global banking networks, exchanging information and accepting transaction initiations in a secure, robust and expandable manner.

The solution comes with a preloaded set of APIs to cover requirements of directives, implementing all necessary security mechanisms for authentication and consent management. Moreover, 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.

Profile Software has a growing international presence, investing heavily in its product evolution that proactively meets market trends and supports diverse and demanding banking and Fintech requirements.