Finova has opened a new office in Manchester, creating more than 50 roles as the mortgage technology provider says investment in AI is supporting expansion rather than replacing jobs.

The business, which supplies cloud-based mortgage, savings and lending software, said more than half of the new positions have already been filled, with recruitment continuing over the coming months.

The new base at x+why, 100 Embankment, Manchester, will house developers and engineers working across Finova’s lending, broker and servicing platforms. The company said the site will also support apprenticeships as it looks to develop new fintech talent in the UK.

The move comes as AI adoption continues to grow across financial services, with Finova seeking to position the expansion as evidence that investment in the technology can support employment growth within a scaling business.

Finova said the Manchester opening follows sustained growth across the company, driven by demand from lenders and brokers and continued investment in its AI-enabled platform.

The firm works with more than 60 financial institutions, manages almost £50bn in loans and savings, and says its technology supports one in five UK mortgages.

It added that its AI tools have been part of that growth. Broker Assist, the company’s conversational AI agent, is designed to reduce manual work in the mortgage process and help lenders, brokers and customers reach decisions more quickly.

Gareth Richardson, chief executive at Finova, said: “There’s a common assumption that investment in AI leads to fewer jobs. At Finova, we’re seeing the opposite.

“Our AI capabilities are driving real commercial growth, and that growth is what’s enabling us to invest in new talent and technology.

“We’re a UK business, built for UK lenders, brokers, borrowers and savers, and we place great emphasis on investing in the incredible pool of talent right here in the UK.”

Finova, which marked its 30th anniversary this year, employs more than 500 people across London, Cheltenham and India. The Manchester office represents the latest stage of its growth strategy, with the company looking to strengthen its engineering base and continue developing its platforms.

Richardson said: “Manchester is a city with a strong technology ecosystem and real ambition.

“We want to play a role in shaping what an AI-driven financial services company looks like in the UK — one that grows its technology and its people at the same time.”