UK challenger bank Afin Bank has appointed ALMIS International, a provider of cloud-based balance sheet management software for banks and building societies, to underpin its Basel 3.1 readiness and reshape how it manages its balance sheet as the lender expands.

Under the agreement, Afin Bank will adopt the ALMIS One platform to handle treasury, finance and regulatory reporting in one place. The move consolidates several separate systems into a single, consistent data source that will feed governance, capital planning and management reporting. The timing is significant, as the Basel 3.1 framework comes into force in the UK on 1 January 2027, leaving lenders little more than a year to prepare.

Afin Bank began operating in 2025 with a focus on borrowers whom larger lenders often overlook because their circumstances fall outside rigid lending criteria. These include foreign nationals working in the UK on valid visas, self-employed workers, contractors and individuals with complex income streams.

Its product line spans residential and buy-to-let mortgages, regulated bridging finance and savings accounts covered by the FSCS.

With growth on the horizon, the bank wanted a reporting and balance sheet system capable of expanding alongside the business, avoiding the cost and disruption of another replacement within a few years.

Both firms describe the deal as a long-term arrangement, with ALMIS One intended to adapt as Afin Bank’s products and balance sheet become more complex.

ALMIS International supports banks and building societies in overseeing their balance sheets. Its ALMIS One platform, delivered via the cloud, combines treasury management, asset and liability management, regulatory reporting and hedge accounting, operating from one source of truth so that finance, treasury and risk teams share a unified view.

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