Cambridge Building Society extends tech partnership with finova

By Gloria Methri

finova, the cloud-based mortgages and savings software provider, has extended its partnership with The Cambridge until October 2030. Through this partnership, finova will continue to enhance the lender’s banking technology over a series of upgrades.

Since partnering with finova, The Cambridge has been able to provide its customers with a range of new products, including new broker and consumer mortgage retention solutions. It has also incorporated finova’s latest eBanking and mobile journeys, enabling customers to seamlessly track and manage their own applications. This extension allows The Cambridge the time to strategically assess and plan for the latest Apprivo SaaS technologies on offer from finova for future originations.

Following its latest integration, the lender can now leverage finova’s hosted offering, including advanced CSOC security tooling and a low-latency branch connectivity solution.

The Cambridge first adopted finova’s cloud-hosted solutions in October 2022 and has since transitioned to a regular cycle of platform enhancements, fostering operational efficiencies through increased self-service functionality. It now benefits from faster response times for delivery changes and has enhanced its customer service standards by reducing the number of previous defects.

Over the next six years, The Cambridge will expand on these capabilities by entering a long-term partnership with finova and harness its full technology stack. The Cambridge will evolve its business by drawing on finova’s ecosystem of SaaS cloud-based solutions, integrating finova’s technology in accordance with its business objectives.

Richard Marsh, Chief Operating Officer at finova said, “Our collaboration and long-term strategic partnership with The Cambridge marks a significant milestone in our efforts to offer state-of-the-art technology solutions while enhancing customer-centric services within the building society sector at the same time. We are dedicated in our commitment to delivering exceptional service and products to our valued customers and are excited that an even larger segment of The Cambridge’s customer base will now have the opportunity to access and benefit from our tailored solutions in the years to come.”

Lucy Crumplin, Chief Operating Officer at The Cambridge Building Society added, “finova understand the importance we place on customer service and have similar values – this played a key role in our decision to extend our partnership with them. We have been impressed by the progress and breadth of finova’s offering and we are looking forward to collaborating further to keep building the agility of our systems and enhancing the customer experience.”