Aryza Group, a financial software solutions provider, has announced it will be signing a partnership to acquire Collenda. Collenda is a leading credit management software provider.
Through this acquisition, Aryza Group will have a chance to expand its presence in the European region.
Boosting its presence in Europe
Collenda supports various financial institutions such as banks and debt collection agencies. The credit management software provider offers its services to financial institutions using an integrated credit lifecycle platform.
The acquisition is yet to be finalized, given that it is currently awaiting regulatory approval from the relevant regulatory bodies.
Aryza noted that the overall demand for its services had increased significantly over the past few months. The company has recorded notable growth and expansion over the years. The company’s activities have grown in Australia, Asia and North Australia, Asia and North America, hence the venture to European markets.
The CEO of Aryza, Colin Brown, noted that the two businesses can complement each other through this acquisition. Additionally, the clients and colleagues from both companies will also benefit from the expanding product suite made possible by innovative technologies such as automation in open banking.
“The acquisition will enable Aryza to deliver broader, more highly valued service to customers as well as unlocking significant international new business opportunities,” Brown noted. “Collenda’s solutions will help our customers manage all steps of the impairment process, and Collenda’s customers will benefit from Aryza’s wide suite of automation tools.”
Integrating technology in the banking sector
The financial sector has grown significantly over the past year. Financial institutions are now adopting technology to bring efficiency and smoothness into banking processes to keep up with these changes. This will have a major effect on prices.
The CEO of Collenda, Hartmut Wagner, noted that the firm was eager to embrace the potential of this acquisition. The partnership will enable the firm to push its operations on Europe, serve its customers and partners better and explore new markets.
“We are very excited to take the next step of our journey by joining the Aryza Group. The deal accelerates our vision to build the strongest thought leader and best solution provider in the Credit Lifecycle Management market in Europe. We see great potential to offer more solutions and products to both our existing customers and strongest thought leader and best also to new ones in international markets,” Wagner added.