It aims to offer a comprehensive omnichannel experience for customers
Mutual Vision (MV), a technology provider for lenders, has launched MV Solar, a cloud-native digital banking platform designed to streamline various banking processes including loan origination, underwriting, servicing, and regulatory reporting, among others.
The platform integrates Mambu’s lending engine, which supports loans, savings, and current accounts, and facilitates complex interest rate calculations.
“MV Solar is a ready-made banking platform that can be tailored to lenders’ needs — it’s a digital ‘bank in a box’,” said Tim Bowen (pictured left), chief executive of Mutual Vision. “It will allow lenders to provide an omnichannel experience to their customers, meeting their digital needs.
“Critically, lenders won’t have to build a new, bespoke banking platform from scratch to offer those services. Pooling investment in technology and deployment of efficient cloud native technologies like this will keep costs down; MV Solar offers small to midsize lenders the chance to compete with larger rivals at a fraction of the cost digital business transformation firms would charge.”
“Lenders will be able to onboard new business without being involved which allows increased geographical reach outside their traditional branch network. MV Solar will create a competitive advantage for specialist lenders, increasing efficiencies with enhanced capabilities. That will level the technological playing field with Tier 1 players.”
Mutual Vision, established in 2001 and headquartered in Wilmslow, Cheshire, employs 90 people and has provided technology solutions to 23 of the 43 mutuals in the UK. It remains owned by six mutual building societies, including Monmouthshire, Chorley, and Harpenden.
“MV Solar is cutting-edge and with increased scalability and resilience, frictionless connectivity, and world-class customer experience,” said David Bennett (pictured right), business development director at Mutual Vision. “We are very proud to be launching version 1 to the industry today.”
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