Cloud-based mortgage and savings software provider, Finova, has announced a strategic partnership with software firm, Escode.

The move will see Finova offer Escode’s Escrow as a Service (EaaS) solution to its mortgage and savings clients.

Escode, which is part of NCC Group, said its EaaS solution supports lenders to securely access, restore or rebuild their critical business platforms in the event of disruption. It also supports compliance with regulatory obligations around business continuity, third-party risk, and data protection.

Through the partnership with Finova, the combined EaaS service will offer secure storage, independent verification of source code and credentials of Finova’s cloud-hosted solutions, while providing a process that supports regulatory audit requirements around software procurement.

Chief customer officer at Finova, Richard Marsh, 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.”

Managing director at Escode, Jayesh Patel, 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.”

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