Profile Centevo completes transition to independent solution and AWS

Profile Centevo completes transition to independent solution and AWS

Profile Centevo, a leading Asset and Fund Management software provider in the Nordics and member of Profile Group, announces the completion of its transition to an independent solution and migration to Amazon Web Services (AWS). This landmark achievement marks a pivotal moment in Profile Centevo’s journey toward autonomy and enhanced service provision.

Following the acquisition of Centevo by Profile, the decoupling project from the Norwegian Central Securities Depository “The Norwegian CSD” (former owner of the company) was initiated and the process was successfully completed. The project involved exiting the Euronext data centre and building an entirely cloud native solution by Profile Centevo.

Profile Centevo has now built its own functionality whilst at the same time it has forged an external partnership with “The Norwegian CSD”. As part of this transformative initiative, Profile Centevo has developed its own robust message integration capabilities via sFTP, MQ, and has obtained its own SWIFT certificate. Moreover, it has built an independent IAM solution and introduced functionalities tailored for distributors amongst various other enhancements that means more tailored and efficient services for clients.

Furthermore, Profile Centevo is among the pioneers integrating Amazon RDS for Db2 into its Centevo Suite on the AWS cloud. This development, officially announced by AWS on November 27, 2023, revolutionises the management of Db2 databases in the cloud. The integration enhances Profile Centevo’s commitment to financial services, providing advanced connectivity for entities utilising SWIFT. With Amazon RDS for Db2, Profile Centevo benefits from seamless database creation and management, including Multi-AZ deployment for highly available databases. The move ensures advanced security measures within the AWS cloud, reinforcing Profile Centevo’s position as a leading financial service provider in Norway.

The migration to AWS is a significant milestone, with over twenty fund managers and distributors seamlessly transitioning to the new platform. Profile Centevo has also migrated its message integration services, laying the foundation for a comprehensive evolution and solidifying its commitment to providing uninterrupted services whilst innovating, ultimately benefitting its clients with improved services and capabilities.

Mr. Stefanos Athanasiadis, Chief Executive Officer at Profile Centevo says that “We are thrilled to announce that Profile Centevo is now the premier service provider in Norway with integrated connections to “The Norwegian CSD” for funds. Our commitment to autonomy and innovation have propelled us to create our own functionalities, ensuring an unmatched experience to our clients”.

Dr. Apostolos Kritikopoulos, Group Technical Director at Profile Group says that “This achievement not only highlights our commitment to innovation and autonomy but also underscores our dedication to providing superior services to our clients. The transition to AWS and the development of our independent functionalities places us on a prominent position in the financial service providers market in Norway”.

Profile Centevo remains committed to delivering innovative solutions, redefining the financial services landscape in the Nordics.