Finova, the cloud-based mortgage and savings software provider, has joined forces with Escode, a subsidiary of NCC Group, to deliver escrow services to financial services clients.
The partnership brings Escode’s Escrow as a Service (EaaS) solution to Finova’s mortgage and savings customers, aiming to strengthen their operational resilience in line with the Prudential Regulation Authority’s SS2/21 requirements.
The service allows lenders to securely access, restore or rebuild critical systems in the event of disruption, meeting obligations around business continuity, third-party risk management and data protection.
For firms using cloud-hosted platforms, it also ensures continuity of service and compliance with the Microsoft Financial Services Addendum framework.
Under the agreement, Finova’s clients will be offered two tiers of service. Escrow Essentials provides access to EaaS alongside annual code deposits, verification of hosting access credentials and architecture checks.
Escrow Premium adds source code verification and more frequent deposit updates aligned with each Finova product release.
Richard Marsh, chief customer officer at Finova, said: “Operational resilience is an important pillar for any lender operating in today’s market. It is compliance, it is risk mitigation, and it can be the difference between a tarnished reputation and a good one.
“Partnering with a global leader in software resilience like Escode was an easy decision. EaaS will help our clients ensure their business-critical applications are safe and secure, allowing them to access, restore, or build their SaaS applications and data no matter what challenges arise.”
Jayesh Patel, managing director at Escode, added: “By combining our EaaS solution with Finova’s deep market expertise, we’re equipping lenders with the tools they need to build resilience and protect their operations from evolving digital threats.
“It offers independent code and credentials verification, giving lenders the value of peace of mind.”
Finova said there had already been strong demand for the service, with several clients adopting it at launch.
