Offa taps Finova to power new Sharia-compliant property lending platform

Sharia-compliant bridge finance provider, Offa, selects Finova and its Apprivo loan origination tech for a new digital lending platform.
Offa, founded in 2019, claims to be the UK’s first bridge finance outfit following Islamic finance principles.
The aim is to improve the slow, cumbersome, and complicated application processes in Islamic property finance.
Offa partners with Finova as part of a £1 million IT investment to leverage Finova’s Apprivo software.
Finova’s technology will enable Offa to offer a smoother and faster application process, utilizing automated valuation models, ID verification, and credit reference agencies.
The collaboration with Finova is seen as a significant investment in digital technologies to optimize existing offerings.
Chief Revenue Officer of Finova, Chris Little, considers the venture with Offa an important milestone, marking the first project with a new implementation partner, Hexaware.
The new origination platform by Offa is expected to be delivered in the first half of 2024.