Finova & Escode Team Up to Expand Escrow as a Service for UK Financial Services
Finova, the UK's leading cloud-based mortgage and savings software provider, has joined forces with Escode to expand Escrow as a Service (EaaS) to its financial services clients. This strategic partnership aims to bolster operational resilience and ensure regulatory compliance.
Finova's clients will now have access to Escode's EaaS solution, which safeguards critical business platforms in case of disruptions. The service offers secure storage, independent verification of source code and credentials, and a clear process for regulatory audits.
Richard Marsh, Chief Customer Officer at Finova, emphasized the importance of operational resilience for lenders. He believes that EaaS helps ensure the safety and security of business-critical applications. Jayesh Patel, Managing Director at Escode, noted that EaaS protects lenders' online banking platforms from cybersecurity threats and provides independent verification of code and credentials.
Lenders can choose between Escrow Essentials and Escrow Premium, depending on their business size and resilience requirements. Both services offer full EaaS access, with Escrow Premium including source code, entry-level verification, and regular deposit updates with Finova product releases. The partnership has seen strong demand since its launch, with immediate uptake from clients.
