Gareth Richardson has been appointed chief executive officer of Finova, the cloud-based mortgage and savings software provider.
Richardson (pictured), who joins from banking technology firm Thought Machine, brings considerable experience in scaling financial technology businesses.
During his six and a half years at the company, where he served as chief operating officer and deputy CEO, he played a central role in transforming it into a globally recognised force in cloud-native banking infrastructure.
His appointment comes at a pivotal time for Finova. Over the past year, the firm has completed its move to a fully SaaS-based product suite and attracted strategic investment from Bain Capital’s Tech Opportunities arm and Octagon Capital.
It has also integrated MSO under the Finova brand and recently signed a five-year deal with Aldermore to provide cloud-native mortgage origination and servicing technology across buy-to-let, commercial real estate, and residential lending.
Pranav Sood, operating partner at Bain Capital, welcomed Richardson’s appointment. “Under its current leadership, Finova has built a market-leading business that now powers one in five mortgage originations in the UK.
“Gareth’s proven track record in scaling fintech companies, coupled with his deep technical expertise, makes him exceptionally well-suited to guide Finova’s continued evolution and deliver lasting value for our customers and stakeholders,” he said.
Paraag Dave, non-executive director at Finova and managing partner at Octagon Capital, added: “With these foundations firmly in place and a strengthened senior leadership team focused on product innovation and customer success, this is a perfect time to welcome a new CEO. Gareth’s vision and operating expertise are an ideal fit for Finova.”
RECENT SMT CHANGES
Richardson joins the firm as it continues to build out its senior leadership team. Recent appointments include Richard Marsh as chief customer officer, Rowan Clayton as chief product officer, and Richard Bolger as chief human resources officer.
Commenting on his new role, Richardson said: “The fintech industry is entering a new era, driven by advances in AI and rapidly changing customer expectations. It’s a privilege to lead Finova at such a pivotal time.
“As the UK’s largest mortgage and savings technology provider, we’re uniquely positioned to capitalise on our scale and market experience to help customers navigate this shift. I’m excited to be joining a team of deep experts who bring real insight, energy, and ambition to this challenge.
“By accelerating the move to SaaS and working in close partnership with lenders, brokers, and customers, we’ll deliver the innovation needed to meet rising expectations — creating smarter, faster, and more personalised experiences for all.”
