Profinit
About Profinit
Profinit is one of the leading companies in the field of Software Development, Big Data & Data Science, Consulting and IT Outsourcing. IDC Research ranked Profinit as the third largest custom application developer in the Czech Republic.
Key clients:
Erste Group, O2, BNP Paribas, KBC Group, Vodafone, Deutsche Telekom, Raiffeisenbank, Allianz, Société Générale, Prague Airport, CEZ Group, Darag, Nord/LB, My Community Finance, Coinmate
Our services:
- Custom application development
- Application management outsourcing
- BI/DWH design & development
- Enterprise integration
- Big data & data science
- IT outsourcing & nearshore services<...Read more
Profinit is one of the leading companies in the field of Software Development, Big Data & Data Science, Consulting and IT Outsourcing. IDC Research ranked Profinit as the third largest custom application developer in the Czech Republic.
Key clients:
Erste Group, O2, BNP Paribas, KBC Group, Vodafone, Deutsche Telekom, Raiffeisenbank, Allianz, Société Générale, Prague Airport, CEZ Group, Darag, Nord/LB, My Community Finance, Coinmate
Our services:
- Custom application development
- Application management outsourcing
- BI/DWH design & development
- Enterprise integration
- Big data & data science
- IT outsourcing & nearshore services
Main clients include banking, insurance, pharmaceutical and telecommunications companies in Central and Western Europe, and we also service a number of other private and public-sector organizations.
Clients use Profinit's services and products in Germany, Austria, Benelux, the UK, and other countries, where we operate in the nearshore mode.
Profinit develops and maintains vital internet banking systems and other bank applications, insurance policy management systems, B2B and B2C portals, EPM systems, fraud prevention solutions and even a mission-critical software system for an international airport.
For more information visit the following websites:
- https://profinit.eu
- https://bigdataforbanking.com/
- https://systemsmodernization.com
Key Insights
Services & Focus
Industry Focus
Client Focus
Portfolio
Administration and development of a core system
Profinit’s main tasks were to take over the maintenance and further development of Cardif’s core system without any breakdowns, to merge the development and operations of the Czech, Slovak, and Austrian versions into one shared services center, and to further develop system features in step with the latest requirements of the insurance company’s branches.
The key phase where Profinit took control of the core system had to be carried out as quickly as possible to keep the time frame during which two different providers would be working on the system to a minimum. Profinit executed the first phase of the implementation in five weeks.
Shared services centre
Profinit transformed the development and administration of Cardif’s core system into a Prague- based shared services centre. The Czech, Slovak, and Austrian branches of Cardif now use a new version of the core system where each branch has its data and settings and, nevertheless, can have its own requirements for new functionalities and the implementation of new insurance products.
The main benefits of Profinit’s takeover of the administration of Cardif’s core system include:
- Speed at which Profinit took over the core system from the previous service provider.
- Stabilization and setup of administrative and other system development processes.
- Significant acceleration and improved quality of the implementation of new features and products.
- Decreased risks associated with the operations of the core system, verified by a BNP Paribas audit.
- Transparent cost model for branches using the shared services centre.
“The main benefits of cooperation with Profinit are apparent in the acceleration and improved quality of the development of our core system and the assurance of its reliable operation. The system migration project was done over a very short time period, and its results were very positively assessed by the BNP Paribas headquarters,” says Rudolf Šlesinger, Chief Operating Officer at Cardif.
Receivables monitoring system
Summary
Profinit delivered a strategic solution called REMOS for ?SOB bank. The project consisted of specifying and implementing a system, which enables bank clients to file and deposit invoices in various electronic formats and through diverse channels without the need to physically visit a branch.
Project background
?SOB made the strategic decision to develop a new software solution called the Receivables Monitoring System—abbreviated as REMOS. Subsequently, Profinit secured the system specifications and implementation of the REMOS project. This system enables bank clients to send receivables in various electronic formats through diverse channels without the need to go to a branch in person.
Thanks to REMOS, clients (even new ones) can now immediately withdraw loan finances the day after handing in their receivables. The money can be accessed as a revolving line of credit or a current account. From the bank’s perspective, REMOS has fulfilled the defined requests and supports the entire life cycle of the enterprise finance service.
Profinit's role
Profinit acted as a contractor for the turnkey REMOS solution and handled everything from analysis, design, development, internal testing, and acceptance testing support all the way to production installation, pilot run support, and support during normal operations as defined in the SLA. The detailed system specifications take up more than 600 pages of text.
The development of the entire REMOS solution took 15 months and was done in several stages, including the bank’s initial assessment of our ability to actually produce a quality product. The total project volume was almost 2,000 man-days.
„I definitely view the REMOS solution as a successful project that fulfilled the defined expectations and, in many aspects, even exceeded them. A large portion of the credit goes to the Profinit team, who was professional, well-organized, and otherwise great to work with."
Martin Šindelá? Executive Manager IT DEVOPS at ?SOB
Big data management platform
Participating in the development of Big Data Management Platform for Telekom Germany. Storing, integrating and analysing large volumes of data using state of art tools and technologies with the aim to replace selected traditional business intelligence systems.
Big data platform
Project Brief
Banking security compliant big data platform for use case analyses
Business needs
The solution needed to meet the following specifications:
- Select and build a highly efficient big data processing platform
- Set up tools for solving business cases with data science
- Meet strict requirements on system security and data anonymisation
Project Summary
We implemented an end-to-end big data platform for new business use case analyses, and achieved these results for the bank:
- End-to-end delivery of a big data platform, including tools for data science
- Single sign-on and integration with Active Directory
- Fully compliant, bullet-proof platform security
- A powerful tool for self-service BI/DS analytical departments
Migrating data to a new core systems
Profinit prepared the comprehensive plan including the minute-by-minute cutover plan for this first wave of the SOC project. We ensured its progress and the coordination of all 60 affected systems, we prepared and implemented data migrations from ten discarded or modified applications to seven newly running systems.
The data migrations included not only the physical movement of data from source systems to target systems but also the extensive transformation of data demanded by the differences in logic between the original and new environments, changes resulting from the significant simplification of the product portfolio, and the cancellation or introduction of dozens of tariffs, packages, and other services.
Such a large migration required approximately 10 months of preparation. The preparation of the cutover alone took 6 months. The main part of the cutover went on for 55 hours straight, for which the eight-member team from Profinit coordinated approximately 110 staff from 11 other service providers as well as O2 employees. 75,000 rows of code, 4.5 MB of source code, and configurations were written.
“It was the most extensive IT project ever in the history of our company, thanks to which we have simplified the architecture, saved the old systems and, above all, made it possible for our business colleagues to reduce TTM. Although Profinit didn’t provide any of the source or target systems, they successfully managed both the technical and organisational aspects of the data migration, which are always the riskiest parts of a project of this type.”
Michal Dvo?ák, CIO of O2 Czech Republic
Nearshore Partnership with M.M. Warburg & Co
Project Brief
Develop custom software capabilities for a leading Germany private bank as part of a long-term nearshore partnership.
Business Needs
The solution needed to meet the following targets:
- Support business through legacy modernisation
- Respond more flexibly to changing requirements
- Engage in long-term collaboration with a nearshore team
- Apply a bespoke tech stack to optimise costs
Project Summary
We applied the Profinit Modernisation Framework to deliver a custom software development solution for our client as part of a wider long-term nearshore partnership.
- Bank’s ability to meet market challenges expedited significantly
- Nearshoring resulted in 65% savings compared to German providers
- Seamless transfer of knowledge and alignment with client’s IT department
- Fine-tuned and ongoing coordination on SDLC to realise development goals
- Future agreements established on other long-term projects for the client
High-speed platform for fraud detection
Project Brief
Implementing a high-speed big data platform for computing anti-fraud predictors.
Business needs
The solution needed to meet the following specifications:
- Have the ability to perform high-speed computations of predictors within a limited time window
- Allow in-house departments to design and adjust the computed predictors
- Easy integration with the surrounding banking systems
- Scalability for future extensions and customization
Project Summary
We implemented a high-speed big data platform for computing anti-fraud predictors, and achieved these results for the bank:
- ?eská spo?itelna has a new high-speed solution which fulfills the requirements of the limited-time window
- The solution is scalable – it can process larger data volumes and conduct faster computations in the future
- The bank’s in-house departments can customize the computations
- The big data platform integrates fully with all required banking systems
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