Richardson has worked at Thought Machine, a retail banking technology company, for the last six-and-a-half years as its chief operating officer and deputy CEO. During this time, he was instrumental to the company’s evolution into a globally recognised frontrunner in cloud-native banking infrastructure.
Over the past year, Finova – which is the UK’s largest cloud-based mortgage and savings software provider – has secured investment from Bain Capital Tech Opportunities and Octagon Capital.
Additionally, it has combined with MSO under the Finova brand and partnered with Aldermore to deliver mortgage origination and servicing via its cloud-native lending platform across commercial real estate, residential lending and buy to let (BTL).
Paraag Davé, non-executive director of Finova and managing partner at Octagon Capital, said: “Over the past few years, we have laid the foundations to enable Finova to scale. With these foundations firmly in place and a strengthened senior leadership team focused on product innovation and customer success, this is a perfect time to welcome a new CEO. Gareth’s vision and operating expertise are an ideal fit for Finova, and I look forward to working with him in the years ahead.”
Pranav Sood, operating partner at Bain Capital, said: “We are delighted to welcome Gareth to Finova at this exciting juncture. Under its current leadership, Finova has built a market-leading business that now powers one in five mortgage originations in the UK. Gareth’s proven track record in scaling fintech companies, coupled with his deep technical expertise, makes him exceptionally well-suited to guide Finova’s continued evolution and deliver lasting value for our customers and stakeholders.”
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Richardson (pictured) said: “The fintech industry is entering a new era, driven by advances in AI and rapidly changing customer expectations. It’s a privilege to lead Finova at such a pivotal time.
“As the UK’s largest mortgage and savings technology provider, we’re uniquely positioned to capitalise on our scale and market experience to help customers navigate this shift. I’m excited to be joining a team of deep experts who bring real insight, energy, and ambition to this challenge.
“By accelerating the move to SaaS and working in close partnership with lenders, brokers, and customers, we’ll deliver the innovation needed to meet rising expectations – creating smarter, faster, and more personalised experiences for all.”
