ALMIS International selected by Afin Bank to power Basel 3.1 compliance and balance sheet transformation
ALMIS International Ltd. (ALMIS) has been selected by Afin Bank, the UK challenger bank focused on helping under-served borrowers, to support its Basel 3.1 compliance and balance sheet transformation as the business scales.
The mandate gives Afin Bank ALMIS One as a single platform for treasury, finance and regulatory reporting, replacing multiple systems with one consistent source of data for governance, capital planning and management reporting, ahead of the Basel 3.1 rules taking effect in the UK on 1 January 2027.
Jake Rose, chief commercial officer, ALMIS International: “Afin Bank made this decision on our proven track record; the bank had watched how we’ve worked with other banks 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 launched in 2025 to support customers poorly served by mainstream banks because their needs do not fit the tick box approach of bigger lenders, such as foreign nationals working in the UK on valid visas, the self-employed, contractors and people with complex incomes.
It offers a range of residential and buy-to-let mortgages and regulated bridging loans, as well as FSCS protected savings accounts. As the bank grows, Afin needed a regulatory reporting and balance sheet platform built to scale with it, rather than one it would need to replace again in a few years.
Charles Resnick, chief financial officer, Afin Bank: “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.”
The partnership reflects a long-term commitment on both sides: as Afin Bank’s product range and balance sheet complexity grow, ALMIS One is designed to grow with it.