Vizolution lands £10m from top European banks

Written by Hannah McGrath

UK software startup Vizolution has landed a total of £10 million funding from HSBC, RBS and Santander to grow its customer experience technology business.

The UK-based Software-as-a-service (SaaS) firm secured the funding from three of the largest European banks following a successful period as clients of Vizolution.

The company, launched in 2013 and headquartered in Port Talbot in Wales, has developed enterprise technology to streamline complex customer journeys by replacing face-to-face interaction with remote digital channels, allowing for greater efficiencies and cost savings.

The end-to-end platform technology aims to offer customers a ‘human approach’ to communications when 75 per cent of people still value in-person interactions around advice on purchases and complex products.

Vizolution said it will use the money to develop new products and accelerate growth and market share.

Bill Safran, chief executive of Vizolution said: “We are delighted that our customers Santander Consumer Finance and RBS have joined HSBC as shareholders in Vizolution. This investment is a testament to the innovation and capability of our technology.”

Ian McLaughlin, managing director of Home Buying and Ownership at RBS said the bank had used Vizolution to introduce the UK’s first paperless mortgage application process, facilitating loans of around £1 billion per month and removing nearly 7 million paper documents per year.