Aryza announces new product launch

Aryza announces new product launch

The Aryza Group has today launched Aryza Annual Review, a new digital solution designed to help IVA providers better manage customer repayment plans.

By using either Open Banking data or inputting the information manually, customers can conduct a full review of their monthly income and expenditure from their mobile device, tablet or desktop computer, with the outcome automatically fed back to the IVA provider. 

The powerful tool will automatically categorise income, fixed monthly expenditure and flexible monthly expenditure transactions, providing a complete and up-to-date view of an individual’s financial position. 

Once finalised, the customer is presented with a full breakdown, before being asked to confirm how the information has been categorised and offered the chance to edit accordingly. 

The annual income and expenditure form is then sent over by API to the IVA provider, allowing both parties to review the suitability of their repayment plan and reassess affordability levels, which, in turn should increase the number of successfully completed IVAs. 

Commenting on the latest product launch, Colin Brown, chief executive officer of The Aryza Group, said:

“We understand that for a person to successfully complete their IVA, the repayment plan needs to be manageable and sustainable long-term. Through the launch of Aryza Annual Review, we hope to see fewer people missing or falling behind on payments.

“After completing the simple form, customers are offered the opportunity to book a call to discuss the outcome of the review, continue with their existing journey or consider other options, such as payment breaks or revised payment plans.

“Aryza Annual Review is a complete, white label solution and can be configured to ensure it’s aligned with your business’s strategic approach and brand needs, including customised messaging, branding and tone of voice.”