Darlington Building Society (DBS) has agreed to extend its contract with finova until 2030 to use the MSO loan origination platform.

The society initially went live with MSO in 2021 and since then the software has enabled DBS to reduce average application to offer times by 10 days.

finova’s MSO platform is trusted by a diverse range of building societies and banks across the UK, helping institutions streamline their mortgage origination processes.

In the last few years, MSO has completed its SaaS transition, with all capabilities now delivered in the cloud before formally becoming part of a joint entity with finova. As a combined group, finova now supports nearly one in five UK mortgages, processing over £50bn of originations annually.

Following its success to date with MSO, DBS confirmed it has entered an early contract extension with finova, whereby its new minimum contract will run until July 2030.

Client delivery director at finova and MSO, Marcus Bennett, commented: “After four successful years, we are grateful to have an opportunity to further strengthen our valued partnership with DBS.

“The renewed contract will lay a foundation for further innovation in DBS’ services to brokers, improving the user-experience and supporting the building society’s growth strategy.

“As partners, we share a mutual commitment to push innovation into the market, and our ongoing collaboration will continue to deliver an enhanced service to brokers and customers alike.”

DBS deputy CEO, Chris Hunter, added: “We are always listening to broker feedback, and we know they value the MSO cutting-edge technology alongside the human touch with access to our decision makers the mortgage underwriters.

“The society aims to make our processes as streamlined and efficient as possible for our colleagues and our mortgage broker partners – and our renewed contract with finova will allow us to innovate further, enable our product development and meet our growth targets as a business until at least 2030.”

---