Mortgage software provider Finova has opened an office in Manchester, creating over 50 jobs, over half of which have already been filled.
The hub at x+why, 100 Embankment Manchester, will comprise developers and engineers focused on advancing Finova’s lending, broker and servicing platforms, alongside a commitment to apprenticeships to help develop the next generation of UK fintech talent.
The expansion follows sustained growth across Finova’s business, driven by continued demand from UK lenders and brokers and ongoing investment in its artificial intelligence (AI)-enabled platform. The company serves over 60 financial institutions, manages nearly £50bn in loans and savings, and powers one in five UK mortgages.
AI job creation
Finova’s AI capabilities have been a key part of this momentum, said the firm.
Gareth Richardson (pictured), chief executive of Finova, said: “There’s a common assumption that investment in AI leads to fewer jobs. At Finova, we’re seeing the opposite. Our AI capabilities are driving real commercial growth, and that growth is what’s enabling us to invest in new talent and technology.
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“We’re a UK business, built for UK lenders, brokers, borrowers and savers, and we place great emphasis on investing in the incredible pool of talent right here in the UK.”
Finova employs more than 500 people across London, Cheltenham and India. The Manchester hub marks the next phase of its growth, strengthening its engineering capability and supporting continued platform innovation.
Richardson added: “Manchester is a city with a strong technology ecosystem and real ambition. We want to play a role in shaping what an AI-driven financial services company looks like in the UK – one that grows its technology and its people at the same time.”
Earlier this month, Finova Broker Payments, the company’s mortgage club, announced its partnership with affordability and criteria research platform Mortgage Broker Tools (MBT) to support advisers’ lender and product searches.