Progressive Building Society, a long-standing ALMIS International client, has replaced the treasury system it relied on for more than 20 years, switching to Cobalt, the specialist treasury management system (TMS) from ALMIS, in a move completed from contract to parallel run in only 10 days.

The Society has adopted Cobalt as the strategic platform for its treasury function. Because the rollout reached parallel running so quickly, Progressive was able to see returns early while keeping disruption to its daily treasury work to a minimum.

Cobalt now unites the Society’s front, middle and back-office treasury activity on one system drawing from a single data source. Increased automation is strengthening operational resilience and cutting dependence on manual work, while tighter controls and better audit trails reinforce governance.

Moving to one specialist system also simplifies Progressive’s technology estate and provides infrastructure that can scale with future growth and evolving regulation.

ALMIS International provides treasury technology designed specifically for banks and building societies, and Cobalt is its TMS for these institutions. Progressive has been an ALMIS customer since 1996, making this latest deployment an extension of a relationship spanning three decades.

According to ALMIS, Progressive joins an expanding group of banks and building societies selecting its technology as treasury evolves from a risk management function into one focused on generating value. Updating treasury systems and simplifying workflows, the firm said, gives 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.

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