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The market for financial technology to harness artificial intelligence, machine learning and big data insights is moving to a point of critical need"

-Company growth drives headcount by 25% year-on-year across research, product development, sales and professional services -

Rimilia, a developer of intelligent automated financial solutions, has announced a series of employee appointments as the company structures itself for growth and to meet the needs of its expanding customer base.

Rimilia designs, develops and implements intelligent finance solutions that harness artificial intelligence and machine learning algorithms to automate accounts receivable processes including, cash allocation, credit management or bank reconciliation. The company’s flagship software, Rimilia Alloc8 Cash Allocation, automates the manually-intensive process of matching payments with expected receivables with auto-matching rates up to 94 per cent, dramatically improving the quality and speed of cash allocation and revenue recognition.

The new appointments are on the back of a $25 million investment by Kennet Partners and Eight Roads Ventures in July 2017 and growth fuelled by Rimilia’s customer base, which has grown by 20 per cent year-on-year.

The new hires span product development, customer support, sales and marketing, and operations, and include:

• Marie-Christine Duda, a project analyst and business support specialist, joins Rimilia from Capgemini to work with the team that supports Rimilia’s self-learning bank reconciliation software customers

• Account director Tom Burke brings more than 30 years’ experience in complex sales processes to Rimilia, including roles at Oracle, Hewlett Packard and Software AG

• Pam Wilde, marketing director, brings a wealth of experience having previously worked for Barclays Bank, Lloyds TSB Bank and Rolls-Royce

• Stuart Surridge, account director, joins Rimilia from Experian with in-depth experience in credit reference, commercial lending and trade credit best practices.

Steve Richardson, COO and cofounder of Rimilia said: “It’s an exciting time at Rimilia as we continue momentum and increase market share every quarter. We’re bringing in new customers including global household names, and also incredibly proud that our existing customer retention rate continues to exceed 99 per cent. "The market for financial technology to harness artificial intelligence, machine learning and big data insights is moving to a point of critical need" for any organisation that wants to increase productivity, streamline financial operations, and we have the vision, technology, financial support and the team to lead the market.”

About Rimilia

Rimilia provides intelligent, automated financial solutions to dramatically improve cash allocation, remittance services and credit collection processes.

Harnessing machine learning, predictive analysis and artificial intelligence, Rimilia enables corporates, lockbox providers and Fortune-1000 businesses to increase throughput, resolve unaccounted payments, gain transparency of transactions, and apply valuable predictive insight and dynamic decision-making into payment processes. Customers include Adecco U.K., Avis, Biffa Waste Services, Hitachi, TalkTalk, Santander and Wesco Aircraft.

Founded in 2008, Rimilia is headquartered in Bromsgrove, U.K., with U.S. offices in Richmond, Va. Investors include Eight Road Ventures and Kennet Partners. It employs 92 people and is privately held.

Press contacts:
UK: Kinga Kopycinska
Tel: +44 (0)1527 872123

USA: Hazel Butters
Tel: +1 617 530 0500

This press release was distributed by ResponseSource Press Release Wire on behalf of Rimilia in the following categories: Business & Finance, Computing & Telecoms, for more information visit