Key Group has extended its partnership with Finova for a further five years, continuing the technology provider’s support for the delivery of lifetime mortgage products through the more2life brand.
The renewed agreement will see Key Group adopt Finova’s latest lending technology, aimed at improving the speed of change, strengthening security and enhancing innovation across its product proposition.
As part of the extension, Key Group will implement Finova’s agile pricing engine, enabling faster and more flexible pricing and product changes.
The move is intended to allow more2life to respond more quickly to evolving market conditions and adviser needs, while accelerating the launch of new and enhanced lifetime mortgage products.
Finova will provide a fully hosted service, incorporating enhanced security features including SOC and SIEM services, strengthened escrow arrangements, data protection measures and regulatory assurance.
Key Group said adopting the latest technology would help it maintain its position as a leading innovator in the later life lending sector, while reducing the cost of change and continuing to set industry standards.
Ben Waugh, managing director of more2life, part of Key Group, said: “This contract extension reflects the strength of our partnership with Finova and our shared focus on innovation in later life lending.
“Moving to Finova’s latest technology enhances our technology in key areas, particularly with regards to the security of our systems and our ability act quickly when it comes to product price and criteria changes.
“As the technology that supports more2life’s fastpath adviser-focused proposition – allowing automated and digital processes on all client cases – this move enable us to continue providing everything advisers need in this area, and ensuring we offer market-leading lifetime mortgage products that satisfy customer needs.”
John Tilzey, sales director at Finova, added: “Key Group has been a long-standing and highly valued partner for many years.
“This five-year extension is a testament to their confidence in Finova’s technology and our ability to support complex, specialist lending at scale.
“We’re excited to start this next chapter together and to see Key Group lead the next wave of innovation in later life lending, supported by our lending and pricing capabilities as a strong platform for growth.”
