Home News The BAI Global Innovation Prize Goes to MVB Bank

The BAI Global Innovation Prize Goes to MVB Bank

The BAI Global Innovation Prize Goes to MVB Bank

MVB Bank, Inc., a wholly-owned subsidiary of MVB Financial Corp. (“MVB Financial”) (NASDAQ: MVBF) (collectively “MVB”), has been named a winner of the 2022 BAI Global Innovation Awards, receiving recognition for its strategic efforts in enhancing the onboarding experience for new Fintech clients through Victor Technologies, Inc. (“Victor”), a wholly-owned subsidiary of MVB Edge Ventures, Inc.

Among hundreds of nominees, 10 winners were ultimately selected by a panel of distinguished judges from around the world who are at the forefront of innovation in the financial services sector. MVB was selected for the Innovation in Commercial Banking Onboarding Experience category based on originality and impact for its entry “Innovation: Onboarding Fintechs Better, Faster, Stronger…The Victor (ad)Vantage.”

“We found that it took a substantial amount of time to make our way through the onboarding process for our Fintech clients. There were several critical components to this process, each of which required a different tool than the rest to be effective,” said Matt West, MVB Chief Strategy Officer. “We set out to build the technology that would combine the efforts of these various components into a single solution, saving our Team and our clients time and hassle.”

“MVB and Victor have invested time, energy and dollars into our commitment to incubating innovation,” said Angela Lucas, MVB Chief Risk Officer. “Because of that, we’ve seen onboarding turnaround times improve by 100% or more than what we saw prior to this initiative while preserving our high standard of regulatory compliance.”

The BAI Global Innovation Awards, now in its 12th year, is the financial services industry’s leading innovation honor. It celebrates organizational achievements, bold solutions, powerful new technologies and improving the lives of employees, clients and communities.

“Innovation is a significant driver of the impact that successful financial services companies have on their customers and communities. The industry continues to bring powerful new approaches and solutions to better meet customer needs in new and different ways,” said Debbie Bianucci, President and CEO of BAI. “The companies and individuals recognized this year were particularly creative and focused on addressing practical issues that made meaningful improvements for customers and employees.”