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Phoebus Software signs servicing contract with Keystone

  • 29/06/2022
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Phoebus Software signs servicing contract with Keystone
Phoebus and Keystone have signed a four-year contract which will see the specialist lender bring all new mortgage completions onto the software firm's account servicing product.

All new mortgage completions will take place on the platform using Phoebus’ originations and migrations application programming interface (API).

The software firm said the solution will include all Keystone’s servicing and securitisation requirements and will service its full buy-to-let product range including green products.

It added that there was potential for Keystone to migrate other books onto the platform in the future.

Phoebus was founded in 1989 and became fully independent in 1997. In 2019 Phoebus went through a management buy out funded by Northedge Capital.

The software company has over 20 clients in the UK and Ireland and over £75bn in assets are serviced on the Phoebus solution.

The solution includes multi-channel, multi-product and multi-currency banking, lending and deposits functions. It features  functionality including originations, primary and special servicing, general ledger, treasury and securitisation.

Richard Pike (pictured), sales and marketing director at Phoebus Software, said that Keystone was a “well-know and respected brand” in the buy-to-let space, and Keystone’s requirements were a “particularly good fit with our core servicing product”.

Pike said that this meant discovery and delivery were smooth and it was able to implement the platform at speed.

He added: “An attractive area is Keystone’s commitment to ESG, a subject also embedded in Phoebus’ culture, and its commitment to and knowledge of this area is very impressive. We expect to enjoy a successful partnership over the coming years.”

Elise Coole, managing director at Keystone, said: “The Phoebus servicing platform is a great fit for our requirements and through our interaction we can also see PSL is a very client focused business.

“The project has been a great success and our teams have worked very well together throughout the lifecycle of the delivery. We look forward to working with PSL to deliver our requirements as they continue to evolve moving forward.”

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