Emergence of the leading Swiss mortgage administrator
Helvetia Insurance is taking a further step in the realignment of its mortgage business, handing over its own mortgage administration to finovo. A MoneyPark subsidiary, finovo specializes in mortgage administration for institutional customers. It has developed its own modern IT platform for efficient mortgage administration. Since its formation in 2016, finovo has posted strong growth. It currently handles mortgage business for several large pension funds. Since the beginning of this year, the volume of mortgages administered by finovo has more than doubled.
More major customers to be targeted
Helvetia, MoneyPark and finovo have the joint objective of developing the leading, most efficient distribution and administration partner in the mortgage business for banks, insurers and pension funds in Switzerland. With Helvetia as its first major customer, finovo will manage a mortgage volume of CHF 6 billion and is ideally positioned for new target groups and continuing growth. MoneyPark and finovo are continuing to invest in the expansion of their ultra-modern, integrated IT platform for mortgages in Switzerland. The entire value chain in the mortgage business is being industrialized and for the first time being offered as a one-stop-shop service.
Additional synergies with the MoneyPark group
Mortgages are a central component in the Helvetia investment strategy. Helvetia has been successfully collaborating with MoneyPark on mortgage distribution since April, and with finovo Helvetia is now exploiting all the opportunities and synergies in the MoneyPark group to realign its own mortgage business. Concentrating on each company’s core competencies future-proofs jobs and makes them more attractive.
Attractive prospects for employees
All Helvetia employees in the mortgage administration field are being offered the opportunity to transfer to finovo on comparable terms, to be part of an innovative, growth-oriented company. At the same time these employees will staff the two new finovo branches in Basel and Lausanne, alongside the existing offices in Zurich and Geneva. Nothing will change for Helvetia’s mortgage customers as a result of this development. They will continue to receive personal service.
“The collaboration with MoneyPark and finovo”, says André Keller, Chief Investment Officer and member of Group Executive Management at Helvetia, “enables Helvetia to further optimize our mortgage portfolio, exploiting synergies to maximize efficiency.” “With mortgages totalling around 18 billion francs completed and under administration”, says Stefan A. Heitmann, CEO of MoneyPark and chairman of the finovo Board of Directors, “this collaboration is another milestone on the road to making MoneyPark the number 1 among technology and consultancy companies in Swiss mortgage lending.
