diff --git a/cra-config.yaml b/cra-config.yaml
index e3c2e331..8a1d6b57 100644
--- a/cra-config.yaml
+++ b/cra-config.yaml
@@ -3,7 +3,7 @@ version: "v1"
 CRA_TARGETS:
   - CRA_TARGET: "solutions/standard" # Target directory for CRA scan. If not provided, the CRA Scan will not be run.
     CRA_IGNORE_RULES_FILE: "cra-tf-validate-ignore-rules.json" # CRA Ignore file to use. If not provided, it checks the repo root directory for `cra-tf-validate-ignore-rules.json`
-    PROFILE_ID: "bfacb71d-4b84-41ac-9825-e8a3a3eb7405" # SCC profile ID (currently set to IBM Cloud Framework for Financial Services 1.6.0 profile).
+    PROFILE_ID: "fe96bd4d-9b37-40f2-b39f-a62760e326a3"  # SCC profile ID (currently set to 'IBM Cloud Framework for Financial Services' '1.7.0' profile).
     CRA_ENVIRONMENT_VARIABLES:
       TF_VAR_existing_kms_instance_crn: "crn:v1:bluemix:public:hs-crypto:us-south:a/abac0df06b644a9cabc6e44f55b3880e:e6dce284-e80f-46e1-a3c1-830f7adff7a9::"
       TF_VAR_existing_kms_key_crn: "crn:v1:bluemix:public:hs-crypto:us-south:a/abac0df06b644a9cabc6e44f55b3880e:e6dce284-e80f-46e1-a3c1-830f7adff7a9:key:76170fae-4e0c-48c3-8ebe-326059ebb533"
diff --git a/ibm_catalog.json b/ibm_catalog.json
index cf0595bf..bfc04fd4 100644
--- a/ibm_catalog.json
+++ b/ibm_catalog.json
@@ -59,7 +59,7 @@
               "profiles": [
                 {
                   "profile_name": "IBM Cloud Framework for Financial Services",
-                  "profile_version": "1.6.0"
+                  "profile_version": "1.7.0"
                 }
               ]},
             "iam_permissions": [