Helvetia hands over mortgage business to Moneypark

Ridhima Sharma
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Helvetia hands over mortgage business to Moneypark

Helvetia Insurance has handed over its own mortgage administration to finovo. A MoneyPark subsidiary, finovo specialises in mortgage administration for institutional customers.

finovo 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. 

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 CHF6bn 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.

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.