Finova has signed a new long-term agreement with LV= to continue supporting the investment, protection and retirement provider’s equity release platform.

The deal, which extends an established partnership between the two firms, will see Finova expand its service offering to enhance the scalability and resilience of LV=’s equity release proposition.

Under the renewed agreement, LV=’s equity release platform will be migrated fully into the cloud, a move designed to boost operational efficiency and future-proof the provider’s technology infrastructure. The collaboration builds on earlier milestones between the firms, including a major contract renewal and the transition away from legacy hosting providers.

Finova said the move reflects LV=’s wider commitment to upgrading its technology stack and ensuring compliance with the Prudential Regulation Authority’s SS2/21 standards on operational resilience.

John Tilzey, sales director at Finova, said: “Our long-standing partnership with LV= has gone from strength to strength, and this new agreement reflects the shared commitment to delivering high-performing and customer-centric services in the equity release market.

“LV= continues to be at the forefront of market trends and conversations, and we truly value the collaborative way they work. We’re proud to support their ambition and continued leadership in this sector.”

Patrick Oldham, equity release proposition director at LV=, said: “We’re pleased to renew and expand our partnership with Finova, especially at a time when the equity release market is growing and evolving.

“For LV=, this agreement is about further enhancing our digital capability in areas that matter most and to amplify our customer offering.

“We’re passionate about driving innovation in the sector, and look forward to building on this partnership.”