Four-year deal sees specialist lender launch new account servicing platform

A four-year contract has seen specialist lender Lendco onboard all new mortgage completions onto a new digital account servicing platform.

Solihull-based Phoebus’ platform will encompass Lendco’s existing book of buy-to-let mortgages, bridging and refurbishment loans in Q1 2022.

The Phoebus solution was delivered into user acceptance testing within three months of Lendco signing off its requirements. It went live in December and has all of Lendco’s primary and special servicing requirements and also facilitates all of Lendco’s securitisation needs. Phoebus’ originations and migrations API will be used to automate the onboarding of cases.

Richard Pike, sales and marketing director at Phoebus Software Ltd (PSL), said: “Lendco is an innovative lender which we are very pleased to bring into our client user group.

“The speed and quality of the implementation is testimony to the investment we have made into both our implementation methodologies and also our digital technology and automation.”

Ian Ferguson, operations director at Lendco, added: “PSL is a strong brand and their technology is an exceptionally good fit for specialist lenders such as ourselves that wish to undertake servicing in-house.

“The interaction with PSL from start to finish has been first class and they are a company that delivers to their commitments.”