Since it was founded in 2002,
Aryza has been a pioneer in using technology
to have a positive impact
on the financial health and well-being of customers
around the world.
Its solutions automate a wide range of activities,
including customer data collection,
administration and payment processing,
covering every stage of the credit cycle.
Following rapid growth since inception,
the business now has global operations across four continents.
Executive Chairman, Andrew Blazye,
tells us more about Aryza’s business model
and its innovative use of technology
to empower people to better manage their financial affairs.
So Aryza, as a company,
started a long time before I became involved,
but was founded by a couple of very technically savvy
individuals who had an idea that it would enable
insolvent and debt challenged individuals
and companies to work through that process.
If they were able to provide technology software
to collect information
and provide background on their situation
that didn't involve them undergoing intensive
and probably uncomfortable interviewing processes.
They sold this idea into insolvency
practitioners, into accounting firms,
and quickly discovered
that not only
did the interaction improve in relation to the insolvent
individual's situation,
but also
the workflow
and the efficiency of the company handling the situation
also significantly improved.
The challenge for the clients
that we have
is indeed how to process and manage an insolvent scenario,
whether that's for an individual or a company.
And progressively over time, and particularly with regulation,
the need to have been able to gather the appropriate documents,
the information about in a safe way,
the information about the client's situation and problem,
add contextual data into that
and other sorts of information has meant
that this is really a large workflow exercise
and to be able to do that end to end using one kind of system
is obviously fantastically enabling
for those firms that we supply to.
Technologically, our business is built up
around a series of microsystems.
So we're adaptable in terms of how we actually use the components
of the system.
Historically, the area of
loan origination
has been one in
which, again, there's been complexity
in terms of how to gather information, particularly
in an environment
where companies or clients want to be able to
present consumers with quite instant loan solutions.
And so,
you can imagine historically all the sorts of
assessment kinds of procedures that you might need to do
may well be,
you know, very, very long processes,
could be very manual
digitising the assessment of the eligibility for loans has been
an important breakthrough, such
that if you want to have a loan to buy even a local consumer
product, nowadays with our kind of capability,
individual retailers can quickly come to a decision
during the course of the sales conversation
that they have with an individual,
that's quite recent, that's quite new.
It's obviously very important for the customer
and creates
a great sort of value halo for the individual retailers as well.
I think the introduction, particularly of innovations around
open banking, is a massive breakthrough,
in terms of particularly the market here.
And that isn't the case in all the markets that we operate in,
but we believe will come.
And so having been experienced around
how to integrate open
banking data, it puts us in a great position to do that elsewhere.
But the access to a wide range of information
that's at quite a detailed
level has been probably
the most important breakthrough in recent times.
And then to be able to
to digitise that and integrate it with other flows is
is the key piece of our proposition.