Finova, the UK’s foremost cloud-based mortgage and savings software provider, has entered into a strategic alliance with Hexaware, a global technology and business process services powerhouse.
The core of this partnership is the mutual goal of expediting the market rollout of Finova’s cutting-edge mortgage origination and servicing platforms. Hexaware, having already collaborated with Finova for three years, has been appointed as an independent implementation partner, marking a new phase in this symbiotic relationship.
Finova stands out as the UK’s largest provider of cloud-based software for mortgages and savings. Their solutions are known for their flexibility and speed of implementation, catering to the needs of over 60 lending institutions. Finova’s offerings include the Core Banking Platform, Broker Platform, and finova Connect, which seamlessly integrate lenders, intermediaries, and consumers.
Hexaware, on the other hand, brings its robust technology and business process expertise to the table. With a workforce of 28,400 ‘Hexawarians’ and operations across 19 countries, the company focuses on empowering enterprises through digital transformation, technology innovation, and business process optimization.
The alliance is set to redefine the UK mortgage and savings landscape, leveraging Finova’s profound product and industry knowledge alongside Hexaware’s delivery and systems integration prowess. Clients stand to benefit from high-quality software delivery and a wealth of ancillary services such as user acceptance testing, data migration, and integration, enhancing the overall service experience and value derived from Finova’s platforms.
This partnership follows the launch of Finova’s innovative products, including the Optimo decisioning engine and the finova Savings platform. Hexaware’s role will be crucial in enabling the smooth implementation of these solutions, ensuring clients can fully leverage the benefits at an accelerated pace.
Finova’s Executive Chairman Paraag Dave remarked, “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.”
Hexaware’s Senior Vice President Parameshwaran Iyer 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.”
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