ALMIS International, a provider of cloud-based balance sheet management software for banks and building societies, has won a mandate from Afin Bank, the UK challenger lender serving under-served borrowers, to underpin its Basel 3.1 readiness and reshape its balance sheet management as the bank expands.
Under the agreement, Afin Bank will adopt ALMIS One to run treasury, finance and regulatory reporting from one platform. The move consolidates several separate systems into a single, consistent data source that will feed governance, capital planning and management reporting. The timing is deliberate, with the UK implementation of Basel 3.1 set to begin on 1 January 2027.
Afin Bank opened its doors in 2025 with a focus on customers whom larger lenders often overlook because their circumstances fall outside rigid lending criteria. These include foreign nationals employed in the UK on valid visas, self-employed workers, contractors and borrowers with complex income streams. Its product line covers residential and buy-to-let mortgages, regulated bridging loans and savings accounts protected by the FSCS.
With its business growing, Afin sought a regulatory reporting and balance sheet system capable of expanding alongside it, avoiding the need for another replacement within a few years. Both firms describe the arrangement as a long-term relationship, with ALMIS One intended to keep pace as Afin’s product set and balance sheet become more complex.
ALMIS supports banks and building societies in managing their balance sheets. Its ALMIS One platform, delivered via the cloud, combines Treasury Management, Asset and Liability Management, Regulatory Reporting and Hedge Accounting, operating all of these from one source of truth so that finance, treasury and risk functions share a unified picture of the balance sheet.
ALMIS International chief commercial officer Jake Rose said, “Afin Bank made this decision on our proven track record; the bank had watched how we’ve worked with other UK banks and building societies over the past couple of years and made the switch on that basis. That’s the kind of decision we want to earn. We’re looking forward to supporting Afin through Basel 3.1 and beyond it as the bank grows.”
Afin Bank CFO Charles Resnick said, “Getting ready for Basel 3.1 also gave us the opportunity to put in place the right foundations for the continued growth of the bank. We picked ALMIS because it understood our balance sheet and our ambitions from the first conversation, not just the reporting requirement in front of us. That combination, regulatory rigour and a genuine understanding of what we’re building, was what mattered.”
Copyright © 2026 RegTech Analyst
Copyright © 2026 RegTech Analyst
