VIZOLUTION (PORT TALBOT)

Origins

Vizolution was founded by Bill Safran CEO and Huw Rees, CTO and between them, they have over 20 years’ experience working in technology, with many years focused on the financial services sector. They recognised the remarkable potential of vScreen to solve some fundamental issues facing the financial services sector including customer engagement and compliance. vScreen could be used securely by any consumer who has access to the internet and by using visuals would improve customer engagement and trust. They also know that using vScreen would produce a shorter, more transparent sales process with advisers easily explaining complex issues with images, calculators and documents. They also recognised that large firms didn’t want to undertake long and costly IT projects so vScreen, which could be implemented with no IT involvement, had the opportunity to steal a march on other solutions.

Our main challenges when starting the business

One challenge during the first three years (shared by many small firms) was a perceived lack of stature being a small, start-up. This was especially challenging when targeting the largest financial service providers in the UK. To get around this, the founders worked on establishing pilots with some providers to provide a proof of concept and demonstrate tangible results. This was hugely successful with average sales increased by 20 per cent and customer satisfaction at 94 per cent, which enabled the company to walk into the boardroom of major UK providers with a ‘battle-hardened’ solution and provide definitive examples of success.

Success Factor

The main factor for the company’s rapid growth is how the company are able to show clients how its products can streamline customer journeys by providing an omni-channel solution. Customers no longer see a distinction in the different delivery channels of branch, telephony and internet. They want to be able to do business at a time of their convenience and through a channel of their choice. They also want to be able to move between channels and believe this is the way forward: not simply adding more channels, but digitising existing processes. By smoothing the customer journey, Vizolution enables customers to switch seamlessly to the most appropriate and useful service for them.

The Future

Core to Vizolution’s growth opportunities is that its products provide an omni-channel solution irrespective of the market, geography or language. Customer journeys and customer expectations are similar whether a mortgage or a mobile phone is being purchased. Additionally, because the individual company defines the documents being shared and discussed, any language can be used. From its initial focus on the UK Financial Services sector, it has now moved into the Telecom and Energy markets and will shortly be announcing expansion into the US, APAC and EMEA. The company has ambitious growth plans for new sectors in the UK and is investing in international expansion in the US and Australia.