The startup develops data intelligence software that securely collects and organizes financial account information through open banking protocols, automating verification processes for legal and accounting firms. This enables firms to efficiently request and receive accurate financial data from banks, eliminating manual efforts and reducing the risk of errors.
Funding
$996.5K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Legal and accounting firms face challenges in efficiently collecting and verifying client financial data, often relying on manual processes that are time-consuming and prone to errors. Gathering necessary documentation, such as bank statements, can be a significant bottleneck, delaying critical processes like AML compliance, source of funds verification, and financial investigations.
Solution
Armalytix provides a data intelligence platform that automates the collection, analysis, and verification of client financial information. The platform integrates with open banking protocols, enabling firms to securely access client financial data directly from banks and other sources. By automating data collection and analysis, Armalytix streamlines workflows, reduces manual effort, and minimizes the risk of errors. The platform delivers analyzed data and insights, allowing professionals to quickly assess financial positions, identify risks, and make informed decisions.
Target Audience
Armalytix primarily serves law firms, accountancy firms, insolvency practitioners, and other professional services organizations that require efficient and accurate financial data collection and analysis for compliance, investigations, and client due diligence.
Features
- Open Banking integration for direct and secure access to client financial data
- Statement scanning capability to quickly process client bank statements
- Automated data analysis and risk assessment
- Customizable questionnaires and fact finds
- Secure data storage and encryption
- Integration with existing systems via API
- Client portal for easy data sharing and consent management
- Support for various data formats, including CSV uploads