"With financial backing from Capital One Ventures, HSBC Ventures, Santander, NatWest and DBW, Lightico solidifies its dominant position in the digital completion sector."
London, England – June 12, 2023 - Lightico, market-leading provider of digital customer interactions, today announced its acquisition of Europe’s leading customer experience technology provider, Vizolution, which positions the joint company as the global leader in B2B2C Digital Completion for the financial services and telecom industries. With a robust, combined platform, the company enables businesses to fully engage remotely with their customers through any channel in an automated and mobile-first manner.
The joint company’s solutions are already in use by leading companies in the financial services sector, including Capital One, GM Financial, HSBC, Santander Consumer Finance, NatWest, BNP Paribas, TD Bank, and by telecom companies including, BT/EE, VMO2, and Three, to reduce transaction times, increase efficiency and improve bottom-line profitability. Customers have seen over 80% faster turnaround times, 45% improvement in completion rates and an ROI of 360%.
“As customer expectations for service companies to offer seamless, digital experiences continues to soar, bringing Vizolution into the Lightico fold will result in a more robust platform devoted to helping businesses deliver world-class digital experiences,” said Zviki Ben Ishay CEO and Co-Founder of Lightico. “With this acquisition, we are combining the leading digital completion solutions in North America and Europe to become the de facto global leader, and are well-positioned and fully funded to scale rapidly across the financial services and telecom industries where demand is at an all-time high.”
The deal will combine Vizolution’s transformational agent-assisted and self-serve solutions with Lightico’s powerful Compliant Digital Completion Platform, including its workflow-integrated eSignature, document collection, and identification & verification services. This will provide clients with a unified solution to deliver an end-to-end, seamless, digital and complete solution for the entire customer lifecycle. Additionally, Vizolution’s team will join Lightico’s organizational structure with Zviki Ben Ishay, Lightico’s CEO, at the helm and Bill Safran, Vizolution’s CEO, transitioning to Chief Strategy Officer for the 150-person strong company. Additional shareholders; HSBC Ventures, Santander Consumer Finance, Natwest and Development Bank of Wales join Lightico’s current backers Capital One Ventures, Crescendo, Lool Ventures, Mangrove Capital, Oxx, and Spinach Angels.
“Vizolution has been providing customer experience services to market-leading enterprises to help them transform and improve digital experiences for millions of their customers,” said Bill Safran, CEO of Vizolution. “By joining forces with Lightico, we’ll leverage the best of both technologies, people and organizations to deliver a strong, scalable, cloud-based offering that will deliver even greater value to our clients and their customers.”
“As early backers of Vizolution, we’ve long believed that streamlining complex customer-facing interactions, especially in the financial services industry, is critical to success,” said Terecina Kwong, Chief Operating Officer, HSBC Bank plc and HSBC Europe and Vizolution Board Member. “Lightico’s acquisition of Vizolution is a significant step towards bringing this change to the entire industry and we look forward to continued success together.”
“Vizolution’s technology as well as the team behind it has enabled Santander Consumer Finance to provide customers with an exceptional digital consumer lending experience,” said Santander Consumer Finance CEO José Luis De Mora. “We have no doubt that consumer demand for more seamless end-to-end digital experiences will grow, and with Lightico and Vizolution combining forces, we’re confident that the new, larger company will help Santander Consumer Finance further its digital footprint and be one of the most important leaders in digitizing the consumer lending market."
“It’s amazing to see Vizolution achieve such a strong international profile, and their acquisition by Lightico marks an exciting new chapter. As long-time investors in the company, we’re very pleased to have been part of their growth journey to become a leading SaaS business, and commend them on the work they have done in showing Welsh innovation and entrepreneurship on the international stage.” Kabitah Begum, Portfolio Executive at the Development Bank of Wales
About Lightico
Lightico is an award-winning SaaS platform that empowers businesses to accelerate their customer journeys through automated workflows. With the Lightico Compliant Digital Completion Platform™, companies leverage no-code workflows to easily collect customer eSignatures, documents, and payments, and authenticate ID in real time — straight from the customer’s smartphone. By unifying the previously siloed steps of customer-facing processes, businesses enjoy faster and shorter sales and servicing cycles, boost NPS, and significantly improve their completion rates. Hundreds of enterprises, including Fortune 500 companies in highly regulated industries such as finance, insurance, and telecommunications, rely on Lightico to make their customer journeys more efficient, compliant and streamlined.
