Leading Fintech Armalytix Partners with Birchall Blackburn Law to Streamline Property Transactions

LONDON, December 2024 – Armalytix, an award-winning fintech company that helps firms establish their clients’ financial position for compliance, affordability and more, has partnered with Birchall Blackburn Law, one of the UK’s top conveyancing firms.

With a proven track record in transforming financial data collection across different sectors, Armalytix has developed a sophisticated platform that streamlines Source of Funds (SoF) verification, addressing long-standing challenges in legal financial processing.

The partnership has delivered remarkable operational improvements, cutting SoF verification from weeks to an average of 4 days, with 65% of reports returned within 48 hours. This reduction in processing time is a huge leap forward for legal firms struggling 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.”