Finova has appointed Tom Tredwell as Director of Data as the mortgage technology provider looks to accelerate its data and artificial intelligence strategy.
Tredwell joined from Shawbrook Bank and has more than 20 years’ experience across the mortgage industry, specialising in data, reporting and analytics.
His career has included roles across start-ups and established financial institutions, and he was a founding shareholder of The Mortgage Lender before its acquisition by Shawbrook Bank.
He will report to Finova Chief Technology Officer David Espley.
ACTIONABLE MARKET INSIGHT
Finova said the appointment formed part of a next-generation data strategy designed to respond to demand from brokers, lenders and savings providers for faster access to actionable market intelligence and emerging industry trends.
The strategy will also focus on using data to enhance the company’s AI capabilities and improve efficiency across the mortgage journey.
Finova currently has nearly £50 billion of loans and savings under management and said its technology powers one in five UK mortgages.
Tredwell will work with lender and broker clients to explore how anonymised data can be used to provide quicker insight into areas including business and product performance and competitor positioning.
The company also plans to use data to support scalable AI-driven technology aimed at improving resilience, compliance and efficiency.
“Data is becoming an increasingly important strategic asset.”
Gareth Richardson, CEO at Finova, said: “Tom brings a rare combination of deep mortgage industry expertise and extensive experience across data and technology and will play a pivotal role in building the scalable, well-governed data foundations we need to develop better products, improve efficiency and deliver greater value for our clients and their customers.
“Data is becoming an increasingly important strategic asset across financial services, particularly as the industry looks to realise the potential of AI.
“For example, the Government’s Smart Data initiative highlights the potential of secure, interoperable data sharing, estimating that Smart Data for homebuying could generate £14.1bn in net social value and contribute £2.06bn annually to UK GDP by 2043.
“This is an opportunity we cannot afford to ignore, and at Finova we are fully aligned with the Government’s ambition to harness data securely and responsibly to drive innovation, improve decision-making and deliver better outcomes for end consumers.”
