Finova has signed a new long-term Master Services Agreement (MSA) with LV=, extending their partnership to support the insurer’s equity release platform and strengthen its digital infrastructure.
The agreement marks a new phase in the long-standing relationship between the cloud-based mortgage and savings software provider and the investment, protection and retirement specialist.
Under the deal, Finova will deliver an expanded service portfolio to enhance the scalability, resilience and operational efficiency of LV=’s equity release offering.
A key element of the partnership is the migration of LV=’s equity release platform into the cloud, providing improved performance, cost efficiency and regulatory compliance.
The move supports LV=’s continued investment in technology to meet the Prudential Regulation Authority’s SS2/21 standards on outsourcing and operational resilience.
The renewed agreement builds on previous milestones between the two companies, including the successful transition of LV=’s systems from legacy hosting providers.
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 amplifying our customer offering.
“We’re passionate about driving innovation in the sector, and look forward to building on this partnership.”
