finova

What finova does

Finova is a UK-based SaaS technology provider serving the mortgage, savings, and lending market. Founded in 1996 and headquartered in London, the company builds cloud-native, low-code platforms covering the full lending lifecycle — mortgage origination, underwriting, servicing, savings management, decisioning, broker CRM, broker payments (fPMS Mortgage Club), and digital identity (Broker ID). Its products support residential, buy-to-let, specialist, equity release, and Islamic finance workflows, and are configured to be self-deployable by clients. Finova also incorporates AI capabilities including the Broker Assist conversational agent (developed with Covecta), SmarterDocs document automation, and AI-driven underwriting and fraud detection.

The company serves UK banks, building societies, specialist lenders, equity release providers, and brokers — powering approximately 1 in 5 UK mortgage originations, with over £500 billion originated cumulatively and £47.5 billion under management across 60+ lenders, 550+ brokerages, and 2,400+ individual brokers. Finova operates through multiple wholly-owned UK entities (Finova Software Limited, DPR Group, Finova Broker Software, BEP Systems, MSO Software, Spectrum Data Management, Burrow Mortgages, Finova Payments) plus an India operations entity, and is privately held following a 2025 strategic investment from Bain Capital Tech Opportunities and Octagon Capital.

Revenue is generated primarily through enterprise SaaS subscriptions (multi-year contracts typically billed annually and scaled to institution size and modules deployed), transaction-based proc-fee revenue sharing on the fPMS Mortgage Club (50% profit share paid quarterly), and professional services for implementation and configuration. The company is led by CEO Gareth Richardson (appointed 2025, formerly COO/Deputy CEO at Thought Machine), with stated turnover of approximately £50 million and a headcount of 500+ across the UK and India. The business combines a direct enterprise sales motion targeting financial institutions with a broker channel model distributing lender products through the Mortgage Club.

Name

finova

Legal name

Finova Software Limited

Website

https://finova.tech

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

251–500 employees

Short description

Finova provides cloud-native SaaS lending, savings, and broker technology to UK banks, building societies, specialist lenders, equity release providers, and brokers. Its platform powers approximately 1 in 5 UK mortgage originations across 60+ lenders and 2,400+ brokers.

Ownership category

akta.pro rank

Product category

Mortgage and Lending Technology

NAICS

Credit Intermediation and Related Activities (522), Commercial Banking (522110)

SIC

Mortgage Bankers & Loan Correspondents (6162), Finance Services (6199), Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Alternative Data & Credit Scoring (Cashflow, Telco, Utility, Open Banking) (FSAGAHAC)

akta.pro secondary industries

Loan Servicing Platforms (Billing, Statements, Customer Self-Service) (FSAGAHAH), Collections, Recovery & Debt Management Platforms (FSAGAHAI)

Keywords

• Mortgage origination software
• Savings management platform
• Broker CRM software
• Lending technology platform
• Financial services SaaS

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. SaaS Platform Licensing (Subscription): Finova generates the majority of revenue through SaaS subscription licensing of its lending, savings, and broker technology platforms to financial institutions. The company completed its transition to a fully SaaS-based product suite. Contracts are multi-year (e.g., five-year extensions with Key Group), typically billed annually. Revenue scales with the size of the financial institution and breadth of modules deployed.
2. Broker Payments (Proc Fee Revenue Share): Finova's Broker Payments / fPMS Mortgage Club earns revenue by connecting brokers to a panel of 90+ lenders and sharing in proc fees. Finova takes a 50% profit share on top of broker proc fees, paid quarterly. This creates a transactional revenue stream tied to mortgage completions facilitated through the platform.
3. Professional Services: Implementation, configuration, data migration, and training services supporting platform deployments for new clients. Professional Services Terms & Conditions are published separately from general terms.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels9 records

Core offering

Finova provides cloud-native, SaaS-based lending and savings technology platforms to UK financial institutions. Its modular suite covers the full lending lifecycle — mortgage origination, underwriting, servicing and decisioning — alongside savings management, broker CRM and broker payments. The platform supports residential, buy-to-let, specialist, equity release, and Islamic finance products for banks, building societies, specialist lenders, equity release providers, and brokers.

Product overview

Finova offers a platform-plus-modules architecture for UK mortgage, savings, and lending technology. The core products include Lending (encompassing the legacy Apprivo whole-market solution and MSO retail lending platform), Savings, and Servicing. Supporting modules include Decisioning (360-degree customer risk view), Intermediary Manager (broker admin automation), Broker CRM (financial-services-specific CRM), Broker Payments (mortgage club with profit share), Broker ID (identity verification), and Mobile App. Additional features include SmarterDocs (document processing), Customer Portal, and Retention Portal. The platform also incorporates AI capabilities through Broker Assist (conversational AI agent) and the Covecta partnership for agentic AI in the UK lending market. Solutions are marketed by lending type (Residential, Buy-to-Let, Specialist Lending, Equity Release, Islamic Finance) and savings type (Retail Savings, Corporate Savings), serving banks, building societies, specialist lenders, equity release providers, and brokers.

Differentiator

Problem solved

Functional benefit

Brands

• Apprivo: Whole-market lending solution (formerly a separate product, now part of Finova's Lending platform)
• MSO
• Broker CRM (eKeeper)
• Finova Broker Payments (fPMS)
• Broker Assist
• Burrow
• Broker ID

Products and services

• Lending Platform Configurable cloud-native lending platform enabling lenders to originate mortgages across residential, buy-to-let, specialist, equity release, and Islamic finance products from a single system. Targeted at banks, building societies, and specialist lenders.
• Savings Platform

Quantifiable outcome

• Up to 40% growth without increasing headcount reported by clients
• +4 more outcomes

Named customers21 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration28 records

AI capability8 records

Feature12 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Key Group / more2lifecoreStrategic or Co-development Partner · 5 February 2026Five-year contract extension for Finova to continue supporting Key Group's lifetime mortgage products through the more2life brand. Key Group adopts Finova's next-generation lending technology and pricing engine to support product launches and meet evolving market conditions. Extended service includes SOC and SIEM security capabilities, escrow arrangements, data protection, and regulatory assurance.
• LV=coreStrategic or Co-development Partner · 14 October 2025Long-term strategic infrastructure partnership extended through a new multi-year agreement. The partnership covers Finova's technology platform supporting LV='s mortgage and savings operations in the UK market.
• CovectacoreTechnology or Integration · 1 October 2025Strategic partnership to bring agentic AI capabilities to the UK lending market. Covecta builds configurable AI agents and workflows to automate activities for financial institutions. The partnership resulted in the launch of 'Broker Assist,' a conversational AI agent for Finova's lending platform users. Represents Finova's primary AI differentiation in the market.
• EscodecoreTechnology or Integration · 1 August 2025Finova partnered with Escode (part of NCC Group) to launch 'Escrow as a Service' for lenders. Escode is a global leader in software resilience. The partnership helps financial services firms prepare for critical technology supplier failures through stressed exit simulation workshops and escrow deposit management.
• PauzibleminorChannel Partner/ Reseller/ Distributor · 18 June 2025Pauzible, an innovative equity finance provider, added to Finova's Broker Payments lender panel. Gives 550+ brokerages and 2,400+ users access to Pauzible's five-year equity financing solution (EPA), allowing landlords to unlock property value without traditional debt. Complements the traditional BTL mortgage offering.
• First2ProtectminorChannel Partner/ Reseller/ Distributor · 17 January 2025First2Protect joined Finova's provider panel for general insurance products, providing property insurance to protect customers' homes and belongings. Strengthens the insurance options available to Finova members and their customers through the fPMS Mortgage Club.
• Nottingham Building SocietyminorChannel Partner/ Reseller/ Distributor · 8 January 2025Nottingham Building Society joined Finova Broker's fPMS Mortgage Club lending panel. Expands broker access to the Society's mortgage products including first-time buyer, foreign national, and self-employed offerings. Panel now offers residential, BTL, second charge, commercial, development, and equity release products.
• HexawareminorImplementation/ SI/ Consulting PartnerHexaware is a global technology and business process services company. As a system integration partner, Hexaware supports Finova's implementation engagements with financial institution clients, providing consulting and integration services for cloud-native deployment.
• OffaminorStrategic or Co-development PartnerFinova powered the launch of Offa's new Sharia-compliant Home Purchase Plan (HPP). Offa, the UK's leading Sharia-compliant finance provider, used Finova's configurable infrastructure to deliver near real-time credit decisions. This represents a product co-development partnership for Islamic finance.

Scale indicators12 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Thought Machine: Cloud-native core banking platform serving UK and global banks and building societies. Thought Machine competes most directly with Finova in the UK lending and savings infrastructure layer and is the prior employer of Finova's incoming CEO Gareth Richardson.
• Mambu: Composable cloud banking SaaS platform used by challenger banks, lenders, and building societies. Mambu competes with Finova for cloud-native lending and savings platform deals in the UK financial institution market.
• 10x Banking: Cloud-native core banking platform targeting incumbent banks and building societies. 10x competes with Finova in the UK lending and deposits modernisation market, particularly for full-stack core banking replacement projects.
• nCino: Cloud banking and lending platform serving banks, credit unions, and specialty lenders globally. nCino's Mortgage Suite competes directly with Finova's lending and origination platform among UK and international mortgage lenders.
• IQ-EQ / IRESS Mortgage Solutions (now part of Iress): UK mortgage and protection software provider serving lenders, brokers, and networks. Iress's mortgage platform competes directly with Finova's lending, broker CRM, and intermediary management solutions in the UK market.
• Mortgage Brain: UK mortgage technology provider offering sourcing, CRM, and lender connectivity solutions for brokers and lenders. Mortgage Brain competes with Finova Broker CRM, Broker Payments, and Intermediary Manager products.

Broad incumbents

• Temenos: Global banking software incumbent offering core banking, lending, and wealth platforms. Temenos overlaps with Finova in UK lending and savings deployments, particularly for mid-tier and challenger banks modernising legacy systems.
• Finastra: Large fintech vendor offering lending, treasury, and core banking solutions to banks globally. Finastra's mortgage and consumer lending suite overlaps with Finova's lending platform offerings in the UK and European markets.
• Mortgage Cadence (an Accenture company): Enterprise mortgage origination and workflow platform owned by Accenture. Mortgage Cadence overlaps with Finova's lending platform in the digital mortgage origination and decisioning space across lenders and servicers.

Others

• Landmark Information Group: UK property data, valuation, and risk analytics provider integrated into Finova's lending platform. Landmark is an ecosystem partner/comparable in the broader UK mortgage technology stack rather than a direct platform competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights8 records

Customer concentration

• Xx.com/finova_tech
• LinkedInlinkedin.com/company/finova-tech

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about finova