Armalytix Partners with Birchall Blackburn Law to Revolutionize Financial Verification in Conveyancing
Armalytix, an award-winning fintech company that assists firms in assessing their clients’ financial position for compliance, affordability, and more, has joined forces with Birchall Blackburn Law, a renowned conveyancing law firm.
With a proven track record in transforming financial data collection across various sectors, Armalytix has developed a cutting-edge platform that simplifies the Source of Funds (SoF) verification process, tackling long-standing issues in legal financial processing.
The collaboration has led to significant operational improvements, reducing SoF verification from weeks to just an average of 4 days. Notably, 65% of reports are now returned within 48 hours, marking a major advancement for legal firms previously burdened with time-consuming manual financial checks.
“Not only did we work together to meet our main objective to streamline and secure our SoF verification process, but the depth of our collaboration meant we also identified other daily challenges and came up with innovative solutions,” says Andrea Fairweather, Partner at Birchall Blackburn Law.
The partnership has delivered the following results:
- High client satisfaction, with 90% rating the platform 4 star or above
- Full staff adoption across Birchall Blackburn Law
- Minimal additional support, with fewer than 1 in 10 reports needing follow-up
- Measurable reduction in administrative workload
Paul Pickering, Head of Compliance at Birchall Blackburn Law, highlights the key benefits, “Having clients’ funds analysed and presented in a clear, comprehensive report allows our conveyancers to spend more time evaluating data and reduces the risk of overlooking important factors.”
Tailored training and a collaborative approach were crucial to the partnership’s success. By introducing Armalytix 101 – a bi-weekly training session – and working closely with different teams, the technology was smoothly integrated, addressing specific needs across the business.
The partnership goes beyond simply gathering basic financial information. Through regular Innovation Days, Armalytix continues to develop features like ‘Large Items Insights’, which helps identify and mitigate potential financial risks more effectively.
Tom Lyes, Head of Legal and Property Services at Armalytix, said, “We’re not just providing a tool, but a comprehensive solution that transforms how legal teams work with financial data. Our partnership with Birchall Blackburn Law demonstrates the powerful potential of technology to streamline complex financial processes.”