The Open Property Data Association (OPDA) has welcomed finova, a cloud-based mortgages and savings software provider, as an associate member.
finova is a provider of mortgage sales and originations platforms used by lenders. OPDA is the UK’s independent industry body for companies revolutionising the property industry through data collaboration.
Founded last June, it promotes the industry-wide adoption of open property data and technology standards. Open property data improves the ease, accuracy and transaction experience for consumers and property industry professionals.
The association has already delivered a open data schema and started work on an industry-wide property data trust framework. As an OPDA member, finova will help shape and contribute to work by the Digital Property Market Steering Group, a coalition of government and industry partners, on data, open standards, trust and interoperability, and shareable digital identity. Maria Harris, chair of OPDA, commented:
“Having accurate and trustable data about property is hugely important to restoring confidence and creating certainty in the market. finova joining us is hugely exciting as they will make it possible for many intermediaries and lenders to access digital property data through their platforms. finova brings an impressive breadth of expertise from its product and consultancy groups. We are looking forward to finova supporting our future phases of innovation and adoption based on their growing customer base.”
Rowan Clayton, Product Director at finova, said:
“Our vision to modernise and open up access to mortgages and lending products is very much aligned with OPDA’s work. We are excited about the prospect of helping OPDA with feedback on the future direction of its strategy. The mortgage market has seen unprecedented volatility over the last 18 months, with access to buying property becoming harder for the next generation to achieve. Improving access to property data will remove barriers to property transactions, helping borrowers and lenders alike.”
