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Hexaware & finova strengthen IT partnership for UK mortgage software
Mon, 29th Jan 2024

Hexaware, a prominent provider of IT services and solutions, has announced a strategic, long-term partnership with finova, the UK's cloud-based mortgage and savings software. This agreement will bolster the comprehensive suite of services the two firms have developed during their initial three-year collaboration, which has already yielded tangible results such as a decision engine, Optimo, and a pioneering digital-first savings platform, finova Savings.

Hexaware has been an important ally to finova, and with this new development, it becomes the first independent partner to implement finova's loan origination and servicing platforms. This partnership aims to expedite the rollouts for finova's clients while simultaneously enhancing service offerings. The collaboration promises to enhance the speed-to-market whilst upholding quality.

The enhanced partnership also opens up access to a full range of accelerator services provided by Hexaware. The ambit will cover quality assurance, data migration, integration, and process operations. These services aim to provide comprehensive support and a seamless experience for all clients implementing Finova's platforms.

The technological capabilities of finova and Hexaware will merge to offer an integrated, high-quality software solution for lenders and savings providers. This will augment finova's product and industry knowledge with Hexaware's service delivery and system integration excellence, ensuring quality and speed in implementing the finova platform.

Paraag Dave, Executive Chairman at finova, welcomed the extended partnership with Hexaware and commended the previous three-year collaboration. "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 quickly and with great quality. Teaming up with Hexaware is simply the next stage of getting our market-leading software to our customer base," said Dave.

Parameshwaran Iyer, Senior Vice President at Hexaware, expressed enthusiasm about the renewed partnership with finova, anticipating a significant impact on the UK mortgage and savings landscape. He highlighted Hexaware's platform-centric approach and customised accelerators designed around finova's platform, offering clients a comprehensive and integrated solution.

Iyer said, "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."

Iyer highlighted the strong impact of new products on the industry, "New products like Optimo and the finova Savings platform are blazing a trail in the industry, and we are delighted that our team will continue to partner finova in fulfilling our clients' long-term goals," stated Iyer.

Through the extended partnership, both Hexaware and finova look forward to providing an improved experience for their clients and accelerating the momentum in the UK mortgage and savings landscape.