Three leading banks have spearheaded a £10 million investment in Vizolution, a tech firm dedicated to revolutionising customer experience. This significant contribution is set to accelerate Vizolution’s global reach.
The investment reflects confidence in Vizolution’s innovative technology, designed to streamline complex customer processes into seamless digital experiences. This funding will support the development of new products, fostering further growth.
Strategic Investment by Leading Financial Institutions
In a significant development for the tech industry, three of the world’s largest banking institutions—Santander Consumer Finance, Royal Bank of Scotland, and HSBC—have collectively spearheaded a £10 million funding round for Vizolution, a London-based company. This investment is poised to catalyse Vizolution’s ambitious plans for global expansion, showcasing the growing symbiosis between established financial entities and innovative tech firms.
Vizolution is renowned for its customer experience technology, specifically designed to streamline complex customer interactions by replicating face-to-face experiences in remote digital environments. This fresh capital injection will not only aid in expanding their product offerings but is also expected to accelerate company growth significantly within the competitive tech landscape.
Innovative Solutions Fuel Growth
At the core of Vizolution’s success is its software-as-a-service (SaaS) platform that has allowed enterprises to simplify intricate customer journeys. The funding will assist in further developing these solutions, reinforcing Vizolution’s position as a pivotal player in customer experience technology.
According to CEO Bill Safran, the recent investment underscores the innovative strength and operational capabilities of the company’s technology. He emphasised, “Together, we will be able to create the very best possible solutions for our clients’ customers,” highlighting the synergistic potential of the collaboration with these banking giants.
Deepening Partnerships with Historical Clients
The Royal Bank of Scotland (RBS) has maintained a client relationship with Vizolution for over five years. Ian McLaughlin, the managing director of home buying and ownership at RBS, expressed enthusiasm for the enhanced partnership. He noted that Vizolution technology was instrumental in launching the UK’s first fully paperless mortgage process.
This technological advancement not only simplified the mortgage acquisition process but also facilitated substantial operational cost reductions, such as eliminating nearly 7 million pieces of paper annually. This partnership has proven integral in revolutionising paperless transactions, underlining the importance of innovation in banking practices.
Moreover, Vizolution’s technology facilitates mortgage loans of approximately £1 billion per month for RBS, signifying the profound impact on the banking operations and customer satisfaction metrics within the bank. The collaboration epitomises how technological alliances can drive efficiency and customer-centric solutions.
HSBC’s Continued Investment and Confidence
HSBC, one of the initial investors, reiterated its confidence in Vizolution through this additional funding round. Gayle Lacey, COO of UK CMB at HSBC, stated that the reinvestment demonstrates ongoing support, expected to bolster Vizolution’s capabilities and enhance digital customer journeys across various product lines.
Having first invested in Vizolution in October 2016, HSBC’s renewed financial commitment underscores its belief in the company’s vision and technological prowess. This sustained partnership is poised to continue delivering innovative solutions in digital banking, benefitting a broad array of consumers.
Impact on Operations and Global Reach
In addition to its London headquarters, Vizolution’s operational footprint extends to several key locations, including Port Talbot and Bristol in the UK, along with international branches in Toronto and Boston.
Vizolution’s expansion strategy is further validated by the influx of capital. The company has earned numerous accolades, such as rankings on the 2018 Fast Growth 50 List and the Sunday Times Hiscox Tech Track 100. These achievements highlight Vizolution’s rapid growth trajectory and its recognition as a leader in the tech sector.
Such endorsements not only increase its market credibility but also attract potential clients and investors worldwide, bolstering its market position against other competitors in the sector.
Collaboration with Diverse Investors
Alongside the major banks, the Development Bank of Wales and several family offices and private investors participated in this funding round. This collaboration with diverse investors highlights the widespread confidence in Vizolution’s growth potential and technological innovations.
The involvement of a broad spectrum of investors signifies trust in the company’s strategic direction and future prospects, ensuring a well-supported path for its ongoing development and international market penetration.
A Forward-Looking Approach
Vizolution’s ability to secure substantial investment from three banking behemoths and other investors marks a pivotal moment for the company. This move not only cements its position as an innovator in customer experience technology but also paves the way for further advancements in the sector.
As Vizolution continues to expand and innovate, it sets a benchmark for how technology companies can harness cross-industry partnerships to foster growth and deliver enhanced customer solutions.
The partnership between Vizolution and its investors signifies a transformative period in customer experience technology. Through strategic collaborations and innovations, Vizolution is poised to reshape digital interactions globally.