Wednesday, February 24, 2021

Aryza makes second major acquisition of 2021

The Aryza Group, which has offices in Nottingham, has acquired HubSolv in a move that will significantly strengthen the former’s position within the financial services and insolvency market.

Aryza incorporates technology such as Open Banking and AI-informed decision making to automate the financial restructuring and recovery journey.

HubSolv has developed a suite of fully automated tools designed to improve case management, customer onboarding and creditor engagement, currently servicing 90 per cent of companies working within the personal insolvency industry.

In 2019, HubSolv was approved by the Financial Conduct Authority as Registered Account Information Service Providers (RAISP), allowing them to integrate Open Banking functionality within their systems, achieving a more secure and reliable service for customers.

HubSolv’s complete case management solution is designed for the insolvency and debt management, consumer credit and lending, financial advice, debt recovery and collection markets, incorporating all the tools needed to run cases in an efficient and compliant manner.

Colin Brown, CEO of the Aryza Group, said: “We are really pleased to welcome HubSolv to the Aryza Group. Like Aryza, the team at HubSolv have been focused on product innovation, listening to customer feedback and relentlessly evolving their offering to alleviate common pains in the industry, bringing updates that aim to further streamline and digitise the insolvency process.

“This is our second acquisition of 2021, accelerating our strategy of becoming the leading global provider of financial services software.”

Fraser Hamilton, CEO of HubSolv, said: “The acquisition provides a great opportunity for HubSolv to accelerate product innovation and growth. It made perfect sense to combine forces with so many product overlaps between HubSolv and Aryza.

“In 2019, we ranked in Deloitte’s UK Technology Fast 50, which recognises the 50 fastest-growing technology companies in the country. We are looking forward to building on past successes, and combining forces with Aryza is the next step in our vision to provide the most advanced insolvency and debt management platform in the world.”

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