back Back

Vida returns to mortgage market with a new AI-driven chatbot MILO

By Megha Bhattacharya

September 01, 2020

  • USA
  • Vida
Share

Mortgage lender Vida has announced its return to the intermediary mortgage market, following its recent successful £350 million securitisation deal in July. Vida stated that the relaunch would enable it to offer a full suite of mortgage products across both residential and buy-to-let ranges. The company aims to refocus its core proposition, develop new products and systems, research new sectors for expansion, etc.

Louisa Sedgwick, Managing Director Mortgages at Vida, commented, “Our mission at Vida has always been to support Britain’s underserved borrowers, and we’re delighted to announce our return to the mortgage market. But today is more than just a relaunch – it is a fresh start for Vida. Over the past few months, we have been planning and developing a new proposition that meets the wider needs of more borrowers in today’s market, and we are returning to new business with a renewed ambition to change mortgages for good.”

Vida will be launching its new AI-driven chatbot called MILO (My Intelligent Lending Operative) in a bid to help intermediaries find information about its products and criteria. MILO is also expected to allow Vida to adapt and improve broker communications and journeys. The relaunch also introduces a redesigned website, which provides brokers with an intuitive interface and no-scroll access to all products and criteria. Vida also plans to enhance its service proposition by reducing time to offer and using digital data to minimise the need for advisers to rekey information.

The lender has also introduced new supportive criteria for customers impacted by furlough, payment holidays, or bounce-back loans, in order to meet the new demands faced by many customers. To help intermediary partners navigate these challenging times, Vida has also produced a COVID-19 Lending Guide to spell out exactly what will be required in support of certain cases.

Previous Article

September 01, 2020

Advicent taps MX to improve account aggregation capabilities in NaviPlan

Read More
Next Article

September 02, 2020

Challenger bank Current partners with Incomm & introduces cash deposits feature

Read More








IBSi Daily News Analysis

South East Asia

February 28, 2024

USA

FinTech penetration in Southeast Asia will double by 2027, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Experian credit reports to include Apple Pay Later loan information

Read More

February 29, 2024

Barclays to sell $1.1b worth US credit card debt to Blackstone

Read More

February 29, 2024

5 FinTech platforms offering SME Loans in Australia

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023