The Open Property Data Association (OPDA) has welcomed UK cloud-mortgage and savings software provider, finova, as an associate member.

OPDA is the UK’s independent body for companies using data collaboration to make changes in the property industry.

Founded in June last year, it promotes the industry-wide adoption of open property data and technology standards. Open property data improves accuracy and the transaction experience for consumers and property industry professionals.

OPDA has already delivered an open data scheme and has started work on an industry-wide property data trust framework.

As an OPDA member, finova will be able to help 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.

Chair of OPDA, Maria Harris, said: "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."

Product director at finova, Rowan Clayton, added: "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."

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