Finova Tech Revolutionizes UK Mortgages: Now Powering 1 in 5 Home Loans After Major Rebrand
Finova, a leading name in the financial technology sector, has recently introduced a revitalized brand identity that encapsulates its remarkable strategic growth and transformation over the past year. This rebranding signifies the official integration of MSO, which joined forces with Finova thanks to the support of Bain Capital Tech Opportunities, Octagon Capital, and Finova’s management team.
Unified Brand and Comprehensive Solutions
Now operating under the singular Finova brand, the company serves over 60 financial institutions, including banks, building societies, specialist lenders, and equity release providers, alongside more than 550 brokerages across the UK. Finova’s extensive suite of digital solutions encompasses:
- Mortgage origination
- Servicing
- Savings
- Customer Relationship Management (CRM) tools
Streamlined Product Suite for Lenders
As part of the rebranding initiative, Finova has consolidated its product offerings. The new umbrella for its origination platforms is Finova Lending, combining the award-winning former Apprivo and MSO platforms, which are recognized as the UK’s most widely adopted residential mortgage origination systems. Another standout product, Decisioning (previously known as Optimo), delivers advanced risk assessment and processing tools, operable independently or integrated with other systems.
Existing Products and Services
Finova’s established products for lenders, such as Savings, Servicing, and Intermediary Manager, remain intact and continue to be integral to the company’s offerings. For brokers, the Finova Broker CRM acts as a dedicated intermediary management tool, while Broker Payments, formerly Finova Mortgage and Payment Services, enhances the efficiency of lender-broker payment flows.
Significant Operational Milestones
In a landmark achievement, Finova’s technology now powers one in five mortgages in the UK and supports nearly half of the top 50 residential mortgage lenders. This includes prestigious institutions like Yorkshire Building Society, Coventry Building Society, and Metro Bank, contributing to a staggering £39.6 billion in residential lending. In total, Finova’s platforms manage nearly £50 billion in loans and savings, servicing over 650,000 borrower accounts.
Impact in the Equity Release Market
In the equity release arena, Finova underpins operations for eight of the UK’s leading providers—including Legal & General, Aviva, and more2life—accounting for approximately 70% of the national equity release activity.
Executive Insights
Finova’s Executive Chairman, Paraag Davé, expressed, “This is a new era and defining moment for Finova, following a year of significant transformation for the business. Our rebrand reflects our scale, momentum, and ambition to continue powering the future of mortgage and savings technology.” He further stated, “The combination of Finova and MSO creates an unparalleled platform offering modern, cloud-native solutions to lenders of all sizes.”
With over £50 billion in lending flowing through its platforms annually, Finova is positioned at the forefront of the UK mortgage industry’s digital evolution. For more information about Finova’s offerings, visit their official website at Finova.
