Exizent to partner with Scottish Building Society to create innovative new bereavement software
Nick Cousins, Exizent CEO
“The partnership with Scottish Building Society will enable us to gain insight from the perspective of financial institutions with the ultimate aim of enabling both to work together seamlessly to ensure the information needed to grant probate and release funds is exchanged quickly and efficiently.”
Exizent, the Glasgow-based technology firm, has announced a pilot project with Scottish Building Society to help families navigate legal and financial processes when an account holder passes away.
The new system aims to simplify the entire journey, from notice that a customer has died, to identifying their accounts, releasing any funds held, and closing the case.
In September 2020, Exizent secured £3.6 million in funding to transform the way the legal and financial services industries deal with bereavement by building the first ever platform that connects data, services and the network of people involved when someone passes away.
The company’s ongoing mission is to reduce uncertainty, increase speed and make it far simpler for everyone involved. As well as working closely with legal services firms, Exizent is now also partnering with Scottish Building Society to understand the issues from both sides, as Nick Cousins, CEO and co-founder of Exizent explains:
“We already have a strong understanding of the issues faced by legal service firms in this area of asset recovery process. The partnership with Scottish Building Society will enable us to gain insight from the perspective of financial institutions with the ultimate aim of enabling both to work together seamlessly to ensure the information needed to grant probate and release funds is exchanged quickly and efficiently.”
Exizent recently launched its software to legal firms and received strong support from influential early adopters such as Thursfields, the Midlands-based practice; leading full service Scottish firm Thorntons; and Countrywide, which provides probate, professional executor and trustee services.
The partnership with Scottish Building society will help pilot a solution to connect legal services to Financial Institutions radically simplifying the process of exchanging and validating information.
The Scottish Building Society partnership will help inform the design concept and, following the pilot, aim to form a universal solution that not only improves the current process but also adds real value.
Paul Denton, Chief Executive of Scottish Building Society said:
“We welcome this opportunity to partner with Exizent on a platform to simplify the process and ease the burden on families. Our experience of dealing with customers at a time of deep personal grief, combined with Exizent’s revolutionary technology, offers a potential solution for the wider UK financial sector.”
Exizent Platform
Exizent is THE industry platform for professionals involved with managing the bereavement process. When someone passes away, Exizent connects the data and services used by legal services firm, banks and financial institutions, and executors to sort out what’s required to make the journey for the bereaved an easier one. The Exizent platform is an integral part of the bereavement landscape helping to reduce uncertainty, increase speed and overall, make the process more straight forward for everyone.
It’s a business inspired by powerful stories, stories of people who have lost loved ones that have then found themselves caught in a web of complexity at a time of personal anguish. We don’t believe it has to be this way. By connecting the professionals, institutions and executors tasked with sorting out the administration involved when someone passes away Exizent is reducing the burden on those grieving.
Exizent is headquartered in Glasgow, Scotland’s thriving FinTech powerhouse and is backed by FNZ, the global platform-as-a-service firm.
If you would like to learn more about Exizent’s innovative platform and how it can benefit the bereavement process, get in touch today.