finova extends partnership with Hexaware

By Bridging Loan Directory 25th January 2024

finova, the UK’s largest cloud-based mortgage and savings software provider, has announced a long-term strategic partnership with Hexaware, a global technology and business process services company.

Following a successful three-year collaboration to support the UK mortgage market, the partnership cements Hexaware as an independent implementation partner of finova’s loan origination and servicing platforms.

finova and Hexaware will collaborate across a range of solutions and services to bring the best of their technological capabilities to lenders and savings providers, combining finova’s product and industry knowledge with Hexaware’s delivery and systems integration excellence.

The partnership aims to provide clients with a seamless service experience, benefiting from high-quality software delivery with access to an experienced systems integration and testing partner.

The partnership will enhance quality, predictability and accelerate time-to-market for all clients who implement finova’s platforms.

It will also open up access to a full range of accelerator-led ancillary services, such as user acceptance testing, data migration and integration, to reduce clients’ efforts within the software delivery phase and enjoy the most value possible from their investments in the finova platform.

The new partnership follows the recent launch of Optimo, finova’s new decisioning engine product, which allows lenders to manage and self-serve product and pricing decisions, and finova Savings, its newest digital-first, end-to-end savings platform.

Hexaware will enable finova’s clients to implement its core mortgage origination solutions and new products like Optimo and finova Savings with ease, meaning lenders and savings providers can efficiently implement and enjoy the full benefits of their products at speed.

Paraag Dave, Executive Chairman at finova, comments:

“At finova, we have never shied away from trying new things and partnering with companies like Hexaware.

We are a software business at our heart and finding strong implementation partners helps us deliver software to our customers quicker and with great quality.

With over 60 lending institutions as customers, we know our strengths and what the market wants from a software perspective.

Teaming up with Hexaware is simply the next stage of getting our market leading software to our customer base.

Our three-year collaboration yielded some great returns, and we look forward to seeing through the next stage of this fruitful partnership to improve speed-to-market times and expand access to our services.”

Parameshwaran Iyer, Senior Vice President, Hexaware added:

“Our partnership with finova represents an exciting opportunity to redefine the UK mortgage and savings landscape.

Hexaware’s platform-centric approach and bespoke accelerators created around finova’s platform provide a comprehensive and integrated solution to our clients.

We are delighted to have supported finova in its ongoing campaign to drive innovation and ramp up speed-to-market pipelines in the UK mortgage market.

New products like Optimo and the finova Savings platform are blazing a trail in the industry, and we’re delighted that our team will continue to partner finova in fulfilling our client’s long-term goals.”