PCS CEO George Xenofos on consistency, professionalism, and integrity
This article was originally published on banks.com.gr
Professional Computer Services (PCS) develops and supports integrated software systems for critical operations within financial institutions. In recent years, the company has also expanded into the insurance sector, offering a modern platform (PCS Pension Schemes) for managing second- and third-pillar pension programs.
In the interview below, Georgios Xenofos, CEO of PCS, discusses the company’s evolution, its solutions, and the broader trends shaping the industry.
Can you tell us a few words about your company? Were there any recent developments you would like to share?
Since 1993, PCS has been developing specialized software solutions for the financial sector, with a focus on building reliable, flexible, and technologically advanced systems that help institutions operate more efficiently and better serve their clients.
As part of the Epsilon Net Group, PCS combines deep fintech expertise with the resources and scale of a leading technology group. This enables us to continuously develop new products, strengthen partnerships, and deliver integrated solutions to organizations both in Greece and internationally.
In recent years, PCS has significantly expanded its international footprint, with projects in 11 countries. In 2025, the company made a strategic move into Central Africa through collaborations with Banque Commerciale du Burundi (Bancobu) and Equity Bank Kenya. These partnerships confirm that PCS solutions deliver value not only in mature markets, but also in emerging economies seeking to modernize their financial infrastructure.
What specialized solutions do you provide to your clients?
PCS develops and supports integrated software systems for critical functions within financial institutions, primarily across middle- and back-office operations.
Our solutions cover the full spectrum of activities for asset management companies, custodians, wealth managers, and private banking units. We also provide systems for shareholder registry management for listed companies.
In recent years, we have expanded into the insurance sector, offering a modern platform for managing second- and third-pillar pension schemes. With PCS Pension Schemes, insurers and pension funds can efficiently organize and manage their programs with full automation, transparency, and regulatory compliance.
At the same time, we have invested in developing digital applications that enhance the investor experience. We have already implemented a digital portal that allows end investors to manage mutual fund transactions and access real-time information on their holdings and performance.
PCS has a strong presence in fund management software. Can you tell us more about this market?
To understand this, it is important to look at how the Greek mutual fund market has evolved. Around 25 years ago, there were 27 asset management companies in Greece, managing approximately €35 billion in assets across roughly 200 funds.
This landscape changed significantly following two major crises: the global financial crisis triggered by the collapse of Lehman Brothers, and the Greek sovereign debt crisis. By early 2019, the number of firms had dropped to 14, while assets under management had declined to €6 billion.
Today, just a few years after the recovery of the Greek economy, the market has rebounded strongly. Investors can now access 481 UCITS funds offered by 13 asset management companies, with assets under management reaching €29 billion (excluding third-party funds distributed locally).
How have these changes impacted the IT landscape?
From an IT perspective, the number of potential clients has decreased due to consolidation in the market. However, the significant growth in assets under management has led to increased revenues and profitability for these firms.
This creates room for investment in modern systems, new technologies, and further automation of middle- and back-office processes.
In this environment, more than 30 years after its founding, PCS continues to play a leading role in delivering IT solutions for asset management. Today, PCS systems support the daily valuation of 371 UCITS funds, representing over €23 billion in assets — covering nearly 80% of the Greek mutual fund market.
It is also worth noting that 4 out of the 5 largest asset management companies in Greece have trusted PCS for over two decades.
We have also developed a new solution that extends beyond fund administration into broader asset management, supporting both individual and institutional portfolios. This unified platform can support multiple geographies, legal entities, and business models within a single installation.
You mentioned your expansion into the insurance sector. What led you in that direction?
Insurance companies have been long-standing clients of PCS through our asset management solutions, which they use for portfolio valuation and unit-linked products.
Our move into group pension schemes and occupational pension funds was a natural extension of our experience in adjacent areas such as investment management and custody.
We also observed that many existing solutions in the insurance market were based on older technologies, with limited flexibility and scalability.
With PCS Pension Schemes, we aimed to address this gap. The platform provides full oversight and control, reduces operational risk and cost, and automates processes that were previously manual.
The solution is already in production at a major insurance company, delivering measurable improvements in service time, internal efficiency, and operational accuracy.
In addition, it includes a user-friendly portal that digitizes interactions between pension funds, employers, and members, enhancing transparency and overall user experience.
What do you consider to be your competitive advantage?
Above all, we focus on the quality and reliability of our solutions, but equally on the level of support we provide after implementation.
We want our clients to know that they can rely on us not only for technology, but also for partnership, responsiveness, and a deep understanding of their needs.
Consistency, professionalism, and integrity are values that run through everything we do. The vast majority of our clients have been working with us for decades — and for us, that is the strongest validation of our approach.