Finova Partners with Escode to Launch Escrow as a Service for Lenders

Finova, the UK’s largest cloud-based mortgage and savings software provider, has announced a strategic partnership with Escode, a global leader in software resilience and part of NCC Group, to extend the reach of Escrow as a Service (EaaS) to financial services clients.

Through this partnership, Finova will offer Escode’s established EaaS solution to its mortgage and savings clients, supporting them in strengthening operational resilience in line with PRA SS2/21 and implement robust safeguards for critical systems and data. 

EaaS supports lenders to securely access, restore or rebuild their critical business platforms in the event of disruption. It supports compliance with regulatory obligations around business continuity, third-party risk, and data protection. The solution also ensures immediate service continuity for cloud-hosted clients and aligns with the Microsoft FS Addendum (Financial Services Amendment) framework. 

The combined EaaS service offers secure storage, independent verification of source code and credentials of Finova’s cloud-hosted solutions, while providing a clear, demonstrable repeatable process that supports regulatory audit requirements around software procurement – helping lenders reduce operational risk and avoid costly downtime. 

Lenders can choose between two flexible options – Escrow Essentials or Escrow Premium – depending on the size of their business and the level of operational resilience required.

Escrow Essentials offers full EaaS access, as well as architecture verification, an annual code deposit, and verification of hosting access credentials. Escrow Premium includes all of the above, as well as source code and entry level verification, and regular deposit updates in line 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. In short, Finova’s EaaS makes operational resilience and business continuity simple. We have already seen strong demand for this service, with immediate uptake at launch, and we look forward to deepening our partnership with Escode.”

Jayesh Patel, Manging Director at Escode, part of NCC Group, added:

“In an increasingly digitised world, lenders’ online banking platforms are becoming increasingly vulnerable to the growing range of cybersecurity threats that could put their operations at risk. 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. We look forward to working closely with Finova to support the sector’s continuity and compliance goals.”