Progressive Building Society, a long-standing client of treasury software specialist ALMIS International, has switched its treasury operations to Cobalt, retiring a system it relied on for more than 20 years and extending a relationship that dates back to 1996.
The Society now uses Cobalt, the ALMIS Treasury Management System (TMS), as its strategic treasury platform. Cobalt is designed specifically for banks and building societies, and it replaces the legacy solution that had served Progressive for over two decades.
The speed of the rollout stands out. Progressive reached parallel run only 10 days after signing the contract, which let the Society begin benefiting from the new system quickly while keeping disruption to its daily treasury work to a minimum.
Cobalt unites Progressive’s front, middle and back-office treasury functions on one platform drawing from a single data source. Increased automation is strengthening operational resilience and cutting dependence on manual tasks, while tighter controls and better auditability reinforce governance.
By running on one specialist system, the Society also simplifies its technology estate and gains infrastructure that can scale alongside future growth and evolving regulatory demands.
ALMIS International provides treasury management technology to banks and building societies. Progressive joins a rising number of such institutions adopting ALMIS as treasury’s function moves beyond risk management towards value creation.
Upgrading treasury systems and simplifying workflows can give treasurers quicker access to data, firmer controls and lighter manual workloads, allowing teams to concentrate on decisions that influence performance.
Progressive Building Society finance director Gareth Robinson said, “Having worked with ALMIS for many years, we were confident in their understanding of the challenges facing banks and building societies. Over the past few years we have seen continued improvement and strong investment in Cobalt, and a growing number of institutions using it across the market.
“It was the right time for the Society to join that user community. Moving to a specialist treasury management platform gives us greater automation, enhanced functionality and a solution that will support our treasury operations well into the future.”
ALMIS International chief commercial officer Jake Rose said, “Progressive’s decision to extend our relationship after more than 30 years says a great deal about the partnership. Treasury teams are under increasing pressure to do more with less while maintaining robust governance and controls.
“Cobalt automates key processes, reduces manual effort and gives institutions greater visibility over their treasury activities. Reaching parallel run within 10 days demonstrates both the strength of our implementation approach and Progressive’s commitment to the partnership.”
Copyright © 2026 RegTech Analyst
Copyright © 2026 RegTech Analyst
