Risk firm bags bank contracts

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RISK management software developer Almis International has won a string of contracts worth a total of more than £500,000, helping the firm to move from a flat in Morningside to offices on Edinburgh’s Canning Street.

The firm – which lists “challenger” banks including Cambridge & Counties, Shawbrook and Tesco among its clients – now plans to grow its headcount to nine from seven.

Founder Joe DiRollo said: “The recent crisis in the banking industry has highlighted a need for improved risk management controls in banks.

“This is combined with an increase in regulation by the new governing body, the Prudential Regulation Authority. Our banking clients have been able to see the advantages in having one system to deal with both.”

More than 40 banks have taken out licences for Almis’ software, which combines risk management analytics with regulatory reports and accounting.