Fintech Onboarding Enhancements Earn MVB a
Prominent Award
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.”
Full results of this year’s winners are available at
https://www.bai.org/news/bai-honors-10-companies-and-10-rising-star-leaders-as-winners-in-the-2022-bai-global-innovation-awards/.
About MVB Financial Corp.
MVB Financial Corp. (“MVB Financial” or “MVB”), the innovative
financial holding company of MVB Bank, Inc., is publicly traded on
The Nasdaq Capital Market® under the ticker “MVBF.” Through its
subsidiary, MVB Bank, Inc., (“MVB Bank”) and the bank’s
subsidiaries, MVB provides services to individuals and corporate
clients in the Mid-Atlantic region, as well as to Fintech, Payment
and Gaming clients throughout the United States. For more
information about MVB, please visit ir.mvbbanking.com.
About Victor Technologies, Inc.
Victor Technologies, Inc., (“Victor”) is a wholly owned
subsidiary of MVB Edge Ventures, Inc., (“MVB Edge Ventures”) and a
part of the MVB Bank, Inc. (“MVB Bank”) family (collectively
“MVB”). Victor provides banking technology solutions that simplify
Bank-Fintech partnerships. Victor APIs help Fintech companies embed
financial solutions within their apps and its Vantage tools help
banks manage Fintech program risk and compliance at scale. For more
information, visit https://victorfi.com/.
About BAI
BAI is a nonprofit, independent organization that delivers the
financial services industry’s most actionable insights, helping
leaders make strategic business decisions with greater clarity and
confidence. Since its inception, BAI’s mission has been to empower
financial services leaders to make smart business decisions that
drive positive change and move the industry forward. Through
research, training, thought leadership and industry events, BAI
works to provide leaders with the trusted information they need to
lead with clarity and confidence to power a strong financial
services industry. For more information about BAI, please visit
https://www.bai.org.
Forward-looking Statements
MVB Financial Corp. has made forward-looking statements, within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, in this press release that are intended to be covered by
the protections provided under the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
current expectations about the future and subject to risks and
uncertainties. Forward-looking statements include, without
limitation, information concerning possible or assumed future
results of operations of the Company and its subsidiaries.
Forward-looking statements can be identified by the use of words
such as “may,” “could,” “should,”, “would,” “will,” “plans,”
“believes,” “estimates,” “expects,” “anticipates,” “intends,”
“continues,” or the negative of those terms or similar expressions.
Note that many factors could affect the future financial results of
the Company and its subsidiaries, both individually and
collectively, and could cause those results to differ materially
from those expressed in forward-looking statements. Therefore,
undue reliance should not be placed upon any forward-looking
statements. Those factors include but are not limited to: market,
economic, operational, liquidity, and credit risk; changes in
market interest rates; inability to achieve anticipated synergies
and successfully integrate recent mergers and acquisitions;
inability to successfully execute business plans, including
strategies related to investments in financial technology
companies; competition; length and severity of the COVID-19
pandemic and its impact on the Company’s business and financial
condition; changes in economic, business, and political conditions;
changes in demand for loan products and deposit flow; operational
risks and risk management failures; and government regulation and
supervision. Additional factors that may cause actual results to
differ materially from those described in the forward-looking
statements can be found in the Company’s Annual Report on Form 10-K
for the year ended December 31, 2021, as well as its other filings
with the SEC, which are available on the SEC’s website at
www.sec.gov. Except as required by law, the Company disclaims any
obligation to update, revise, or correct any forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20221223005219/en/
MEDIA CONTACT Amy Baker VP, Corporate Communications
& Marketing abaker@mvbbanking.com (844) 682-2265
INVESTOR RELATIONS Marcie Lipscomb
mlipscomb@mvbbanking.com (844) 682-2265
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