Azzurro Selects LexisNexis Visualfiles for Azzurro Law
Visualfiles to help Azzurro Law innovate and scale
LONDON, U.K., 25 September, 2019 – Innovative and growing commercial debt management business, Azzurro Associates, has selected LexisNexis® Visualfiles™ as the legal workflow and case management platform of choice for its newly formed commercial legal recoveries business, Azzurro Law. Visualfiles will enable the firm to efficiently and flexibly manage the debt recovery process across the life span of portfolios handled by the organisation.
Azzurro Law will use Visualfiles for pre-legal and amicable collection, legal recovery, insolvency, disputes and enforcement. Additionally, based on defined criteria in Visualfiles, the system, together with Azzurro Associate’s leading analytics team will help Azzurro Law select the cases that offer the ‘best propensity to pay’. This capability will facilitate a successful litigation strategy, ensuring that time and effort is spent only on cases where the firm has a higher probability of making a recovery.
Karen Savage, Chief Operating Officer & Solicitor at Azzurro Associates, elaborated, “With the kind of data that the solution holds, and by applying the right logic, Visualfiles can do anything you want it to. Our data analytics team has built a commercial litigation scorecard with inputs from multiple sources of information including third-party organisations such as credit bureaus and consumer credit reporting companies. Visualfiles will automate selection of accounts that are suitable for litigation and then support the entire process, end-to-end to ensure efficiency, productivity and service excellence.”
Azzurro Law will benefit from the real-time reporting functionality provided by Visualfiles. Savage, added, “We will use the full suite of online reports in Visualfiles, which alongside our own data systems, will provide us with powerful logic on our business performance.”
“The debt recovery market is competitive, and Azzurro understands and appreciates the role that technology must play to help the firm hit the ground running, quickly scale up, innovate and differentiate from competitors,” Simon Farthing, Commercial and Marketing Director, LexisNexis Enterprise Solutions, commented. “The out-of-the-box thinking that Azzurro is applying in its delivery of Visualfiles clearly illustrates this. Visualfiles can be whatever organisations need it to be which is essential in a challenging market.”
With plans afoot to move into other markets, Azzurro Associates is already in discussions with LexisNexis on further scaling Visualfiles in Azzurro Law. Savage, said, “We are a flexible, agile and innovative business and so needed to invest in a technology that would support the same. Of course, we looked at other solutions on the market, but ultimately chose Visualfiles. The solution has continuously evolved over an extended period, so is functionality rich; its performance is proven; and most importantly, it can genuinely be tailored to our way of working today and in the future. Its flexibility is un-paralleled.”
Azzurro granted full FCA Authorisation
Following our application in January 2019 to the Financial Conduct Authority (FCA), Azzurro Associates Limited are pleased to confirm that we have now received full FCA authorisation.
Confirmation of our authorised status is an important milestone in helping Azzurro achieve its vision in building strong partnerships with the creditor community and the delivery of fair customer outcomes.
All Azzurro customer accounts will be unaffected by this news, as they will continue to be treated in line with the FCA regulations
Azzurro appoints 'Business Leader of The Year' to COO position.
Karen Savage, Solicitor joins Azzurro Associates as Chief Operating Officer.
In her new role Karen will oversee the company’s business operations. She will also assist the company’s CEO in accelerating the company’s external partnerships and origination opportunities, ensuring the alignment of progress towards fulfilling Azzurros strategic objectives.
Prior to joining Azzurro in 2019, Karen was an equity partner at Shoosmiths solicitors founding and leading the commercial recoveries team nationally.
Recognised by Credit Strategy as one of the most influential individuals in Credit, Risk and Collections, Karen led her team to win Commercial Legal Team of The Year at the CICM Awards.
She also personally won Business Leader of The Year 2018 at the Women in Credit Awards.
NEXT INVESTMENTS SELLS NEXT FINANCE & SUBSIDIARY COMPANIES TO AZZURRO ASSOCIATES
Ede, 27/08/2018 – Next Investments B.V., a Dutch holding company active in financial investments of real estate and consumer debt portfolios, has today announced the sale of its debt purchasing, collections and data businesses to Azzurro Associates Limited, a UK based debt purchaser for an undisclosed sum.
The funding made available by this sale will be used by Next Investments to further expand the successful business activities of Solid Finance in order to realize a real estate loan portfolio with a total value of 150 million euros.
Azzurro Associates was formed in 2017 by Andrew Birkwood, previously Chief Investment Officer of UK based debt purchaser, Arrow Global, with the aim to make a difference to the way the commercial and niche consumer credit industries operate. The three subsidiaries which Azzurro Associates has acquired from Next Investments are Next Finance, Pleitmeesters and Data Interface.
“We are very happy with this acquisition, which we believe will give us a strong position in the Dutch credit market, says Andrew Birkwood, CEO of Azzurro Associates. “With a range of high profile clients, the acquisition of Next Finance, Pleitmeesters and Data Interface supports our vision to be the leading provider of liquidity solutions to the commercial and consumer credit markets.”
Sander Springer, the Chief Financial Officer of Next Finance who will become the Dutch Country Manager for Azzurro, also commented on the acquisition adding “Azzurro’s acquisition of these three companies provides a major growth opportunity for both our business and extended services for our clients. This acquisition adds valuable experience in the analysis, management and collection of credit impaired receivables, data management and data security.”
Next Investments is very pleased with the take-over of its consumer debt portfolio activities by Azzurro Associates. “The acquisition of Next Finance, Pleitmeesters and Data Interface is a terrific strategic fit for Azzurro Associates. We have every confidence that they will continue the partnerships with our customers to achieve the right outcomes in a sustainable and timely way,” says Jan Meijer, co-owner of Next Investments. Gerard Kappert, also co-owner of Next Investments comments: “We will utilize the money released from this sale to grow Solid Finance’s real estate loan book to an amount of 150 million euros”.
About Next Investments & Solid Finance
Next Investments is an independent private investment company founded by Gerard Kappert and Jan Meijer. They combine their knowledge and expertise to realize creative financial solutions which turn projects perceived as risky into risk-free activities with a high return on investments