Aryza Acquires Webio: A Strategic Move in AI-Powered Financial Solutions

Aryza acquires Webio for its conversational AI platform

Webio's co-founders. From left, CEO Cormac O'Neill, chief revenue and chief marketing officer Mark Oppermann and chief strategy officer Paul Sweeney. Image: Gemma Day The company expects the acquisition to strengthen its overall market position in the long run. Aryza, a Dublin-based SaaS provider for credit and debt lifecycle management has acquired conversational artificial intelligence (AI) provider Webio for an undisclosed value. With the acquisition, Aryza will integrate Webio's AI across its products and services, offering its clients AI-powered solutions, particularly focused in the collections and recovery sector. While in the long run, the company plans to embed these AI capabilities more broadly, Aryza said, also expecting the AI-infusion to strengthen its overall market position. "The addition of Webio to the Aryza family is a pivotal step in our journey to becoming a leader in AI-powered financial solutions," said Colin Brown, the CEO of Aryza. "Their expertise in conversational AI, combined with their innovative, cloud-native platform, perfectly aligns with our vision for the future. "Together, we'll be able to deliver exceptional value to our customers while continuing on our strategy to deliver SaaS solutions across the full credit and debt cycle," Brown added. Based out of Blanchardstown, Aryza was founded in 2002 and boasts more than 1,600 clients with more than 500 employees across its offices worldwide. The company provides a range of suites for lending solutions, streamlining collections from indebted customers, debt and insolvency recovery and risk compliance. Commenting on yesterday's acquisition announcement, Cormac O'Neill, Webio's CEO said: "By combining our AI capabilities with Aryza's established product portfolio and market reach, we're in a strong position to enhance customer engagement and drive real innovation in financial services." The 2016-founded Webio was a featured start-up in SiliconRepublic.com's Automation Week last year. The company's conversational AI platform uses a combination of automated chatbots, natural language processing and machine learning to deliver personalised customer engagement particularly in the credit and collections sector. "With explicit customer permission, each model is fine-tuned and trained on real customer data using our proprietary AI tools," the company co-founder and chief strategy officer Paul Sweeney said in an interview at the time. "This ensures that the language and concepts of your organisation are reflected in the models." In 2023, Webio raised €2.5m to grow its platform. Don't miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic's digest of need-to-know sci-tech news.

Zelig advises Webio on its sale to Aryza

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Webio's tools enable organisations to enhance efficiency, improve customer experiences, and drive meaningful outcomes, particularly in the area of debt collections. Webio is backed by leading venture capital investors including Finch Capital and Enterprise Ireland. Aryza, headquartered in Dublin, is a global provider of SaaS solutions for credit and debt lifecycle management. The company's automated solutions streamline complex processes at every stage of the credit life cycle, from lending to debt, insolvency, and arrears management. Aryza is backed by Pollen Street Capital and Macquarie Capital Principal Finance. The acquisition will enable Aryza to offer Webio's conversational AI capabilities to its extensive customer base, particularly in the collections and recovery sector, enhancing the effectiveness of their customer engagement processes. Aryza will also embed Webio's technology into its broader product suite further enhancing this compelling cross-selling opportunity. "Joining the Aryza Group marks an exciting new chapter for Webio, and we look forward to contributing to its ambitious vision. By combining our AI capabilities with Aryza's established product portfolio and market reach, we're in a strong position to enhance customer engagement and drive real innovation in financial services. Zelig's advice throughout this process was instrumental to its successful outcome, particularly in structuring a deal that aligned the objectives of the multiple stakeholders involved." Cormac O'Neill Founder and CEO of Webio "The addition of Webio to the Aryza family is a pivotal step in our journey to becoming a leader in AI-powered financial solutions. Their expertise in conversational AI, combined with their innovative, cloud-native platform, perfectly aligns with our vision for the future. Together, we'll be able to deliver exceptional value to our customers while continuing on our strategy to deliver SaaS-solutions across the full credit and debt cycle." Colin Brown CEO of Aryza