SAVVYY Brings the Future of Lending to Canadian Banks; Appoints Duncan Hannay to Board of Directors
TORONTO–(BUSINESS WIRE)–Today, SAVVYY, a Canadian-based technology leader in lending software solutions and infrastructure, announces Duncan Hannay has joined its Board of Directors. Currently President and CEO of Ontario Lottery and Gaming (OLG) Corporation, Hannay has previously held senior roles at Street Capital Bank of Canada, Finastra, Scotiabank and E*TRADE Financial. During his time as COO at Finastra, the business established itself as the third largest fintech company globally.
The appointment marks a major step forward as SAVVYY brings next-generation digital lending capabilities to Canadian and international financial institutions. As a transformative executive leader in high growth technology-enabled businesses with deep experience in financial services, Hannay will be a key advisor to the SAVVYY team as the company modernizes mortgage lending for Canadian financial services.
“Joining SAVVYY’s Board is a rare opportunity to work with one of Canada’s most talented and experienced development teams as they modernize legacy lending platforms of the major banks,” said Duncan Hannay. “Having spent more than 20 years of my career at the intersection of technology and financial services, I can say with confidence that the manual, costly, and error-prone mortgage technologies that most lenders rely on are overdue for innovation. SAVVYY’s AI-capable lending infrastructure will save time, streamline workflow, and result in a dramatically improved customer experience.”
SAVVYY co-founders Salim Naran and Norm Cappell bring a wealth of knowledge, expertise, and connections to SAVVYY’s mission to transform Canada’s lending industry. The SAVVYY executive leadership team consists of seasoned technology and financial services professionals with a proven track record of building enterprise lending systems through senior roles at Borrowell, Paradigm, Filogix, RBC, and Merrill Lynch.
“We have meaningful traction as a Canadian fintech and the time is right to strengthen the governance of our growing company. Duncan’s experience and advice will be invaluable as we grow our team, onboard new customers and evolve our roadmap,” said Sal Naran, Co-founder, SAVVYY. “We’re on a mission to transform banks into fintechs and are looking forward to bringing our AI-mortgage ready platform to many more Canadian lenders.”
Established in 2018, SAVVYY is currently working with three leading Canadian financial institutions to modernize their mortgage lending infrastructure, optimize workflow for underwriters and significantly speed up the mortgage application process for customers.
SAVVYY’s specialist team is building digital infrastructure for the lending industry, using data and design to modernize loan processing. Their modern, cloud-based software solutions turn lenders into fintechs, and allow them to transform a patchwork of legacy systems and manual process into an efficient, flexible and automated process that delivers a vastly improved client experience. SAVVYY was established in 2018 and is based in Toronto, Ontario. https://savvyy.ai/