The launch is planned for Q3 2014.
The firm’s initial offering will consist of the Phoebus primary and special loan servicing solution but the firm plans to extend its full range of lending and banking software to the Irish market.
Phoebus offers originations and servicing for first and second charge residential plus commercial mortgages; development finance and bridging; asset finance and unsecured loans, and retail and commercial deposits.
It said initial market research indicates that two of the Phoebus solutions will be useful to the Irish lender market, including its integrated workflow solution and the migration toolkit to help move assets efficiently from one solution to another.
Phoebus sales and marketing director, Richard Pike, said: “Phoebus is a very functionally rich, flexible servicing platform – it is used by the majority of third party servicers in the UK because of this. The solution has handled Euro mortgages previously and the servicing market In Ireland very much reflects the UK market in recent years.”
Irish mortgage market specialist David Guinane, country managing director at Rockstead, Ireland, said: “The servicing market in Southern Ireland is ready for new technology that drives operational efficiency and flexibility. Although a new player to the Irish market, because of its servicing pedigree in the UK, I believe the Phoebus solution will be highly attractive to both existing and new servicers and the Irish Banking market in general.”
