Kommuninvest, one of Sweden’s key financial institutions, has chosen Athens-based Profile’s Finuevo Core banking system to update and improve its operations, following a competitive international procurement process.
Kommuninvest is jointly owned by 281 Swedish municipalities and 15 regions.
It provides approximately 60% of Sweden’s municipal investment financing, managing around €50 billion in loans and €55 billion in total assets.
The institution focuses on sustainability, cost-efficiency, and stable public sector funding.
Finuevo Core, developed by financial solutions provider Profile, will be deployed fully across Kommuninvest’s operations.
The new system will support lending and payment processes, help meet regulatory requirements, and integrate with existing infrastructure.
David Ljung, Chief Lending and Advice Officer at Kommuninvest, said:
“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.”
Profile, which operates in the Nordic region through its subsidiary Profile Centevo, will also provide local support.
Evangelos Angelides, CEO at Profile, said:
“This strategic partnership represents a key milestone in our Nordic expansion journey and reinforces our standing as one of the top European financial software providers.”
Featured image credit: edited from freepik
