Rcube Professional Services celebrates 10 years of PFS support !

On this August 27, 2024, Rcube Professional Services celebrates 10 years of its PFS (Professional of Financial Sector) support status! This accreditation enables it to offer its services and IT solutions to all companies regulated by the financial sector in Luxembourg.

A look back over the past 10 years with some of Rcube’s key figures!

Why did you decide to set up a company with PFS support status?

• Jean-Guy Roche (CEO) : “Rcarré had been around for over 10 years, and our growth meant that we became known to many companies. But we couldn’t meet the needs of companies regulated by the national authority. That’s why, in order to continue our expansion on the Luxembourg market, we decided to get listed as a support PFS.”

• Murielle John (Founder and previous PFS director) : “In the years before the creation of Rcube, I had observed on several occasions the extent to which small and medium-sized regulated companies were being ignored by most of the IT players in the Luxembourg marketplace. So the idea was to create an entity along the lines of Rcarré, but adapted to the PFS world.”

What were the biggest challenges in obtaining PFS support status?

Jean-Pol Cozier (Retired director PSF): “Rcube (formerly Agil-IT ) had to make a 180° turn from a hardware sales business to a service company. We then had to design a PFS-level private cloud from A to Z (design, components, hosting, managed services) on which the remote computing and managed services offer is based.

We also had to write and present this service offering to the regulator, find competent technical resources in the greatest possible synergy with Rcarré, and start the commercial work towards future PFS customers of this new platform until approval was obtained.”

Following the acquisition of Systemat, did you encounter any difficulties in taking over the staff?

• Jean-Guy Roche (CEO) : “ Acquiring a company with its employees is always a challenge, both for the employees and for the new management. Many people are worried about the changes to come, and employees need to be reassured through active communication. We met several challenges with this takeover! Firstly, we had to adapt to the increase in the number of employees, from 68 to 98! We had to put in place all the logistics and administration in phase with this growth! Secondly, the employees taken over were very worried, as they had lived for some time with the uncertainty of being able to keep their jobs. Would they lose their jobs when the business stopped? Would they be affected by a social plan? Would they be welcomed in the new structure? Many were consumed by anxiety, and it was only time and support that eased their fears.”

• Murielle John (Founder and previous PFS director): “My feeling is that we have been warmly welcomed by the Systemat employees. We did our maximum to encourage their integration, especially by setting up a sponsorship program. One proof of this success is that former Systemat employees are still with us today. Rcube is and will remain, I hope, a family company where working well together continues to be a reality.”

Estelle, an ex-Systemat employee, tells us how she felt about the takeover!

“2016 got off to a complicated start, marked by cash flow difficulties that were impacting our customers, and the repeated departures of some of our staff. At the time, I was filled with doubts and worries about the company’s future.

The announcement of Rcarré’s takeover aroused two emotions in me:

• the hope that we would be able to continue our business and support our loyal customers
• the fear that the remaining administrative staff would have to duplicate their jobs.

In May 2016, at our first meeting with Rcarré’s shareholders and future colleagues, Jean Guy’s humanistic speech instantly removed any remaining doubts. In the months that followed, I realized that their management matched the principles and values I had known for 14 years, before everything changed; as a result, integration was quick and easy, and the desire to take on new challenges once again present.

My gratitude is theirs, the wish to do well is always present, and I’m proud to be part of this fine team that’s growing fast and well, with these preached values that I share.”

What are the current IT challenges for financial companies in Luxembourg?

• Serge Sauvage (PFS director) : “The challenge is, without prejudice to exaggerated costs or without slowing down the core business, to meet external requirements; be they Information Security, regulatory, reporting or even governance.”

• Cédric Bavay (PFS director) : “The great need for information security is forcing financial companies to redouble their vigilance and put in place all the necessary tools to secure their data. They must also adopt new practices to ensure that no sensitive data can be misappropriated, whether from outside the organization or internally.”

Why is Rcube an ideal IT partner in Luxembourg? What are its advantages?

• Serge Sauvage (PFS director) : “The size and diversity of our companies mean that we face the same challenges as our customers. Being IT professionals, we can bring them the fruit of our analyses and offer them tailored answers.”

• Cédric Bavay (PFS director) : “Rcube is 10 years old, but our technical history already has 23 years of expertise in all areas of IT thanks to Rcarré. We are a company that wants to keep the customer at the center of our concerns. We strive to follow customer wishes as far as possible and according to regulations, in order to be as close as possible to their wishes.”

How do you see Rcube in 5 or 10 years’ time? What will tomorrow’s challenges be and how can we meet them?

Jean-Guy Roche (CEO): “Rcube Professional Services will continue to bring its IT expertise to regulated companies in Luxembourg, and we will ensure that we remain a key player in the Luxembourg market.

Future challenges? Financial companies are increasingly risk-driven, and to meet this challenge, standards are increasingly coming from the European level. It remains to be seen what rules will be imposed by the European Union. Certain regulations are already underway, such as DORA and NIS 2. The ISO 27 001 nomenclature goes a long way towards meeting European IT security requirements, which is why more and more companies are implementing an ISO 27xxx strategy, and we’re here to support them!”

Our customers’ testimonials !

• Ancilefund: “The services provided and the attention that Rcube pays to our regulated business enable us to meet our investors’ requirements and legal obligations. The management and supervision of our IT tool operated by Rcube and their advice cover many services that allow us to focus on our business.”

• Funds Avenue: “Rcube supports us in the challenges we face as a company supervised by the national regulator. In fact, they manage our entire IT ecosystem and support us not only on operational and technical aspects, but also on security management and the local – and European – legal governance that needs to be put in place”.