ALMIS

ALMIS software gives risk management capability to Paragon and SCOBAN in their quest for a banking licence

Paragon Bank (part of the FTSE 250 Paragon Group of Companies PLC), was recently granted a banking licence by the Prudential Regulation Authority. The PRA has also confirmed that it is ready to grant a banking licence to SCOBAN plc. A key part of the licence application is for firms to set out their plans for monitoring and managing their own specific financial risk profiles.

 

The UK regulators are known for their high standards and stringent tests for institutions seeking licence approval. Effective risk management is an essential requirement, and one of the main challenges on the road to obtaining a banking licence. By effective use of ALMIS International’s Asset Liability Management system to assess, manage and monitor risk, the PRA were able to take comfort that both Paragon and SCOBAN have the right tools to successfully demonstrate prudential risk management.

 

Joe Di Rollo, MD and Founder of ALMIS International, notes: “Our long and collaborative association with the regulatory authorities, including the PRA, has underpinned the development of an ALM risk management system that meets and exceeds the requirements of both the regulators and our clients. Paragon Bank and SCOBAN plc are the latest in a growing number of ALMIS clients demonstrating that effective use of ALMIS equips them to challenge established banks with confidence”.

Featured Solutions
Our featured solutions are the most popular amongst our clients.
CTA Icon #1