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Suffolk BS advances digital mortgage origination with Finova

Suffolk Building Society partners with UK-based fintech Finova, integrating the Apprivo originations banking platform to enhance digital mortgage services. This alliance promises efficiency and improved customer experience.

  • Editorial Team
  • May 14, 2024
  • 2 minutes

In a significant move to enhance its digital mortgage origination capabilities, Suffolk Building Society has partnered with Finova to implement the Apprivo originations banking platform. This collaboration marks a pivotal step in Suffolk Building Society’s mortgage origination and strategic initiative. They aim to bolster its digital offerings across a spectrum of loan types, including residential, expat, buy-to-let, and self-build mortgages.

Finova‘s Apprivo platform stands at the forefront of mortgage technology. It offers a cloud-based, Software-as-a-Service (SaaS) solution integrating automated property valuation and credit data. The platform’s API-enabled interface boasts case management dashboards and risk assessment hubs. These are designed to streamline the mortgage process for brokers and lenders alike. After a successful trial phase with residential mortgages, the platform is set to expand. This expansion promises a seamless and efficient experience for all of Suffolk Building Society’s products.

Successful trial and future expansion

Suffolk Building Society expects the adoption of the Apprivo platform to revolutionise the digital mortgage origination experience. This is for both the institution and its customers. Richard Marsh, COO at Finova, and Rebecca Newman, COO at Suffolk Building Society, have both expressed their enthusiasm for the partnership.

“It’s a pleasure to partner with Suffolk Building Society, one of the most respected and innovative lenders in the market. Apprivo will deliver a cutting-edge experience for Suffolk Building Society’s intermediary clients while streamlining operational efficiencies. We are looking forward to building on this success with Suffolk Building Society, offering a quality service to brokers and end customers alike,” said Marsh.

Newman also commented on the rollout. “Finova is a well-established innovator in mortgage technology. Apprivo is an exciting product which will support our core lending offering and allow the Society to grow and maximize efficiencies. The initial trial launch was a success, and we are keen to build on this momentum so that our broker partners can benefit from its top-flight case management dashboards and risk assessment hubs. This partnership will ensure Suffolk Building Society continues to deliver a fantastic service in the years to come.”

The initial trial has already demonstrated success. The full rollout is eagerly anticipated to further elevate Suffolk BS’s service offerings in the competitive mortgage market.