Lightico acquires Vizolution, propelling Israel's financial services and telecom industry

The acquisition positions Israel at the forefront of digital customer interactions, as Lightico becomes global leader in B2B2C Digital Completion with the Vizolution merger.

Barclays' building in Canary Wharf is seen behind a City of London sign outside Billingsgate Market in London. (photo credit: REUTERS)
Barclays' building in Canary Wharf is seen behind a City of London sign outside Billingsgate Market in London.
(photo credit: REUTERS)

Lightico, a prominent provider of digital customer interactions, has announced its acquisition of Vizolution, Europe’s leading customer experience technology provider. This strategic move positions the joint company as the global leader in helping financial services and telecom businesses improve their interactions and transactions, making the customer experience more efficient, convenient and seamless, benefiting both the businesses and the end consumers.

The joint company’s solutions are already being utilized by top companies in the financial services sector, including Capital One, GM Financial, HSBC, Santander Consumer Finance, NatWest, BNP Paribas, TD Bank, as well as telecom companies such as BT/EE, VMO2, and Three. These firms have experienced benefits from the platforms, including 80% faster turnaround times, a 45% improvement in completion rates, and a return on investment (ROI) of 360%.

Zviki Ben Ishay, CEO and cofounder of Lightico, expressed excitement about the acquisition, stating, “As customer expectations for seamless, digital experiences continue to rise, bringing Vizolution into the Lightico fold will result in a more robust platform devoted to helping businesses deliver world-class digital experiences.” Ben Ishay further emphasized that the acquisition positions the joint company as the de facto global leader in digital completion solutions and enables them to scale rapidly across the financial services and telecom industries.

As part of the acquisition, Vizolution’s team will join Lightico’s organizational structure, with Bill Safran, Vizolution’s CEO, transitioning to the role of Chief Strategy Officer for the newly formed 150-person company.

Major shareholders support the venture

The joint venture has garnered support from several major shareholders, including HSBC Ventures, Santander Consumer Finance, Natwest, and Development Bank of Wales, who join Lightico’s existing backers such as Capital One Ventures, Crescendo, Lool Ventures, Mangrove Capital, Oxx, and Spinach Angels.

 Lightico's team (credit: Courtesy)
Lightico's team (credit: Courtesy)

Bill Safran, CEO of Vizolution, expressed optimism about the collaboration, saying, “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.”

Terecina Kwong, chief operating officer of HSBC Bank plc and HSBC Europe, and Vizolution Board Member, also shared her enthusiasm, stating, “Lightico’s acquisition of Vizolution is a significant step towards bringing transformative change to the entire industry, and we look forward to continued success together.”

This acquisition also positions Israel as a significant player in the financial services and telecom industries. The innovative capabilities offered by this joint company highlight Israel’s prowess in developing advanced digital customer interaction technologies, solidifying its position as a hub for cutting-edge solutions in the financial and telecom sectors. This development further strengthens Israel’s reputation as a hotbed for technological innovation and positions the country well for future growth and collaboration in these industries.