Crown Agents Bank strengthens interest rate risk management with ALMIS

EDINBURGH, Scotland, Nov. 12, 2026 /PRNewswire/ -- Crown Agents Bank, the UK-regulated bank providing cross-border payment solutions across the Global South, has strengthened its interest rate risk management through its partnership with ALMIS International Ltd. (ALMIS). This follows the introduction of a multi-currency interest rate swap hedging programme that has materially reduced the bank's interest rate sensitivity.

Using Cobalt, the ALMIS Treasury Management System (TMS), together with ALMIS Hedge Accounting, Crown Agents Bank introduced interest rate swaps for the first time, moving from vendor selection to live hedging in around four months.

ALMIS was chosen following a competitive selection process, enabling the bank to extend its hedging toolkit beyond bonds to interest rate swaps. The partnership has since expanded, with Crown Agents Bank now working with ALMIS to bring high-quality liquid assets (HQLA) fixed income assets onto Cobalt.

With a core banking system that continues to serve its payments and FX business well, the bank needed a modular solution that could add interest rate swap and hedge accounting capability alongside its existing systems, rather than a wholesale replacement. ALMIS offered the modular fit, speed to implement and cost-effectiveness the bank needed. By year end 2025, the bank had its interest rate swap programme in place, hedging its structural interest rate exposure.

Aasif Sarigat, Banking Director, Crown Agents Bank:

"Introducing interest rate swaps for the first time was an important step in strengthening how we manage risk across our balance sheet. We needed a solution that would let us hedge our interest rate exposure more effectively, work alongside our existing systems rather than replace them, and give our teams the capability to run a more sophisticated hedging programme. ALMIS did all of that, and we were live within four months."

Jake Rose, Chief Commercial Officer at ALMIS International:

"Introducing interest rate swaps for the first time is a significant step for any bank. Crown Agents Bank set a clear objective and a tight timetable: get the hedging right without disrupting its core banking platform. Their team's focus made that pace possible. It shows how banks can add specialist treasury capability as they grow, one piece at a time, rather than replacing everything at once."

The partnership demonstrates how banks can strengthen risk management and introduce new treasury capabilities through modular technology, without the cost and disruption of replacing existing core banking systems.

About ALMIS International

ALMIS International helps banks and building societies manage their balance sheets with confidence. Its cloud-based platform brings Treasury Management, Asset and Liability Management, Regulatory Reporting and Hedge Accounting together, running them all from a single source of data and giving finance, treasury and risk teams one consistent view of the balance sheet.

With more than 30 years' experience, ALMIS is a specialist in balance sheet management, supporting more than 60 banks, building societies and financial institutions globally.

For more information about ALMIS visit https://www.almisinternational.com/, and follow it on LinkedIn

About Crown Agents Bank

Crown Agents Bank is a UK regulated bank providing cross-border payment solutions that power opportunities across the Global South. Driven by its purpose to deliver prosperity in the markets it serves, the bank combines nearly 200 years of heritage with proven expertise in complex cross-border payments and specialist market knowledge, helping organisations and institutions move money with confidence across complex and underserved markets.

Its network connects clients across the public, private and development sectors to more than 120 countries and currencies and over 800 currency pairs. Built through long-standing relationships with central banks and other local partners, the network opens access to harder to reach markets and helps ensure the flow of funds to and within the Global South.

Crown Agents Bank Limited (Company Number 02334687) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 204456).

Media enquiries:
ALMIS International: Jane Boorman, Head of Marketing ALMIS -  j.boorman@almis.co.uk 
Crown Agents Bank: Cameron MacIndoe, Headland - cmacIndoe@headlandconsultancy.com