Monva launches new personal loans comparison service

By Megha Bhattacharya

UK-based FinTech Monva today announced the launch of its personal loans comparison service in a bid to transform the price comparison experience for users, leveraging customer data for good and automating tasks.

FinTech MONVA is a new smart comparison service that uses customer data and artificial intelligence to personalise and revolutionise the price comparison customer experience. It was founded by CEO Steve Wiley and COO Stuart Wakefield, who previously held senior executive positions at MoneySuperMarket, MBNA and Virgin Money, with experience in FinTech and financial services.

Commenting on the launch, CEO Steve Wiley said, “We are thrilled to unveil Monva’s latest price comparison service for personal loans. Using Monva, customers will now be able to compare loan options from leading providers and access personalised offers without affecting their credit file.

“Customers will also be supported by Mo, our smart technology and money saving assistant, which represents the biggest advancement in the industry yet. Mo guides customers through searches and offers useful tips and information to help individuals make smart choices and find the right deal every time.”

Monva stated that its personalised service helps users make smart decisions, while its technology and automation mean there are fewer forms to fill in, making it easier to compare and buy. Monva’s customers also receive state of the art guidance and support through Mo, the Money Virtual Assistant, which guides users through the comparison search, assists buyers in making their decisions and uses AI and machine learning to alert users to new personal offers.

“This launch is the latest milestone for Monva after a year of incredible progress and comes just weeks after closing our latest fundraising campaign on Crowdcube, exceeding our investment goal by 225% from over 600 investors. We’re excited about the huge opportunity ahead of us as we continue building Monva and developing the next generation of financial price comparison for our users.”

Recently, the FinTech announced the launch of its latest fundraising round, targeting a further £200,000 investment via Crowdcube, ahead of a larger institutional round expected to take place towards the end of 2021.