Aldermore has strengthened its technology capabilities in the mortgage space through an expanded partnership with Finova, a UK cloud-based mortgage and savings software provider.
The two companies first began working together in 2016. More recently, Aldermore undertook a comprehensive market review before running a series of pilot projects using Finova’s lending platform, previously known as Apprivo. The success of these trials has led to the formal extension of the relationship into a five-year agreement, focused on delivering end-to-end support for the bank’s specialist lending products, including buy-to-let, commercial real estate, and residential mortgages.
As part of the extended agreement, Aldermore will roll out Finova Lending, a SaaS-based mortgage origination platform designed to improve processing times and operational efficiency. The platform offers advanced decisioning capabilities, automated task workflows via the ‘Enhanced Tasks’ module, and post-contract functionality such as product switching and further advances. A key advantage is the platform’s self-service capabilities, which allow Aldermore to make in-house adjustments to product offerings and pricing structures—an essential tool for staying responsive in a volatile market.
Another factor in Aldermore’s selection of Finova was the platform’s composable architecture. This modular structure enables lenders to configure either an end-to-end solution or opt for a headless deployment that integrates with existing systems, providing flexibility and scalability.
On the servicing side, Aldermore has already transitioned to Finova’s upgraded platform, which is hosted on Microsoft Azure. This move aligns with Finova’s wider client base, which largely operates within Azure’s managed service ecosystem. Aldermore will now benefit from a secure, containerised infrastructure, real-time data feeds, and robust cyber protection through Security Operations Centre (SOC) and Security Information and Event Management (SIEM) functionalities.
Finova chief operating officer Richard Marsh 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.
Aldermore managing director of property Ross Dalzell 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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