Armalytix Expands into Insolvency Services with Tailored Solutions for Practitioners
Armalytix, an award-winning fintech that enables firms to establish their clients’ financial position for financial investigations, compliance, affordability and more, has announced its expansion into corporate insolvency with tailored tools to speed up the process of collecting and analysing banking data, ensuring compliance with regulatory timelines and improving operational efficiency.
With Armalytix’s tailored new solution, insolvency professionals can instantly access long histories of bank transactions directly from client accounts delivered with accurate, at-a-glance analysis highlighting key insights, risks, and suspicious transactions.
As regulatory scrutiny intensifies, insolvency practitioners are facing increasing pressure to provide timely and accurate financial analysis. However, they often struggle with delayed access to banking data, which is compounded by the laborious task of manual reviews.
Armalytix’s solution is specifically designed to address the challenges in corporate insolvency cases, where clear and reliable financial data is critical for statutory filings, such as those required under the Company Directors Disqualification Act. By simplifying and streamlining data collection and analysis, Armalytix helps insolvency teams deliver timely, compliant results while mitigating the risks associated with incomplete or inaccurate information.
Tony Walker, Head of Financial Services, Insolvency & Accountancy at Armalytix, said: “We’re excited to bring our award-winning fintech solutions to the corporate insolvency sector. Our platform is designed to take the burden out of financial data collection, ensuring that insolvency practitioners can deliver accurate, timely results with confidence. By removing manual processes and automating key tasks, we empower our clients to focus on the big picture – solving the complex financial challenges their clients face.”
Toyah Poole, Insolvency Practitioner at Clarke Bell, comments: “Armalytix has been a game-changer for us. Using Armalytix means we can speed up the case progression. Instead of waiting weeks or months for the banks to send statements, we can access the data instantly. The analysis is great and saves hours of manual review, and easily identifies ‘interesting’ transactions for our attention.”
The expansion into insolvency services is part of Armalytix’s broader mission to revolutionise financial data collection across key accountancy and legal sectors. Already trusted by over 250 leading firms, Armalytix offers solutions across various services including forensic accounting, audit, and bookkeeping, helping professionals across the UK streamline their workflows and enhance the quality of their services.
