Aldermore selects Finova lending origination platform
Finova, the UK's largest cloud-based mortgage and savings software provider, has today announced a new and extensive partnership with specialist lender Aldermore.
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Aldermore is a long-standing customer of Finova, first partnering with the provider in 2016. Following a comprehensive market review, Finova delivered a series of successful pilot projects with its lending platform, formerly known as Apprivo. Building on this success, Aldermore has chosen to extend this relationship across both origination and servicing - covering key areas of its mortgage business, including specialist buy-to-let, commercial real estate, and residential lending.
The expanded five-year partnership is built on a shared commitment to cloud-native technology and agile delivery. By adopting a more flexible, iterative approach to development, both organisations aim to accelerate innovation and ensure the platform continues to evolve in line with Aldermore's strategic goals.
For mortgage originations, Aldermore will adopt Finova Lending - a SaaS-based origination platform helping to streamline the time to offer and improve operational efficiencies. Aldermore will benefit from a number of key features including advanced decisioning tools, its task automation module 'Enhanced Tasks' and post-contract variation capabilities - such as product switches and further advances. In addition, Finova Lending's self-serve features will enable Aldermore to make rapid in-house changes to products and pricing, driving operational agility and enabling faster responses to market volatility.
Aldermore also cited Finova Lending's composable architecture as a major factor in its decision. The platform's modular design allows for either a fully orchestrated end-to-end solution or a headless setup that integrates into Aldermore's own existing composable tech stack.
For mortgage servicing, Aldermore is already benefiting from the successful upgrade and migration of its servicing solution to Microsoft Azure. Finova has significant expertise in managing complex Azure workloads, with most of its client base already operating in Azure as a managed service. By joining this hosted environment, Aldermore will benefit from containerised infrastructure, Security Operations Centre (SOC) and Security Information and Event Management (SIEM) capabilities, live operational data feeds, and other Azure-native services.
Richard Marsh, Chief Operating Officer at Finova said:
'We are delighted to extend the partnership with Aldermore. It's an extensive partnership covering origination for a range of mortgage products, wholly powered by Finova Lending and an upgrade and cloud migration of our servicing solution. Together, Finova and Aldermore are building a robust platform to meet Aldermore's ambitious targets for UK specialist lending, and I am looking forward to building on the initial success of this relationship over the coming years.
Ross Dalzell, Managing Director of Property at Aldermore, added:
'As a lender, we faced the decision of whether to build in-house or invest in a third-party solution. Finova Lending gives us the best of both worlds—a fully deployed solution with the flexibility to build on top of it, thanks to the platform's composable architecture. It's the right fit for our strategy, and we're excited to go live with buy-to-let as the first step in this journey.'
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