Mutual Vision has partnered with London-based fintech firm, Sikoia, in a move which it hopes will reduce the administrative work involved in cases and deliver a "better experience" to brokers and borrowers.

The collaboration will see Sikioa’s products integrated into the digital bank’s product offering, providing lenders with automated processing of customer application documents, company and consumer credit bureau reports and politically exposed persons and sanction checks.

Sikoia specialises in helping financial services providers automate key parts of its customer verification processes and is regulated by the Financial Conduct Authority as an open banking and credit reference provider.

The firm’s latest AI-powered document process solution, which was launched in Q1, automates more than 75% of the labour-intensive tasks involved in handling documents supplied by customers.

This has allowed for users to automatically extract verified information covering affordability, income and risk indicators from bank statements, payslips and tax returns in a number of minutes.

Mutual Vision is a technology provider for specialist lenders, focused on helping financial institutions work more effectively through tools which can tackle inefficient processes, reduce manual effort and deliver a better experience for customers.

Chief executive officer (CEO) at Mutual Vision, Tim Bowen, said: "Mutual Vision wants to offer cutting-edge, next-generation technology. So, we built MV Solar on Mambu’s lending engine while Microsoft is our cloud partner. We always aim to work with best-in-class providers, and we adopt or recommend partners where relevant. Sikoia are, therefore, a natural fit for Mutual Vision."

Founder and CEO at Sikoia, Alexis Rog, added: "We are thrilled to be working with Mutual Vision. Customer verification and checks are a core part of the mortgage process, but for years have been a manual job for lenders to undertake. Our products leverage technology so that these tasks are carried out faster, more accurately and more reliably, and the Mutual Vision partnership means that far greater numbers of lenders - and by extension their customers - will benefit."

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