Phoebus Software and OSB Group PLC renew the contract for 5 years

By Joy Dumasia

OSB Group (OSB) and Phoebus Software Limited (PSL) have signed a new 5-year contract. The specialist lender has been a client of PSL since 2013, and the new deal followed the merger of OneSavings Bank and Charter Court Financial Services plc in 2019. 

The mortgage servicing solution will handle all the Group’s primary and special servicing requirements in a highly automated manner. Users are based in both the UK and India. 

Since the original implementation in 2014 and its core mortgage servicing platform, OSB has also migrated several new books onto the Phoebus platform, utilising the Phoebus migrations API to maximise automation in this mission-critical area. OSB has also undertaken securitisation of assets using the Phoebus securitisation module.  

Phoebus Software Limited’s Sales and Marketing Director, Richard Pike, said: “We have worked closely with OSB since 2013 and have a very strong relationship. We are hugely proud to have been the servicing partner of the Group through its transition from Kent Reliance to the innovative business it is today and supporting its growth as a market leader in specialist lending. We look forward to continued success for both parties through the relationship over the coming years.” 

John Gaunt, Group Chief Information Officer at OSB GROUP PLC, commented: “PSL is a valued and trusted supplier, and the Phoebus solution provides our business with both operational efficiencies and excellent functionality. We look forward to continued success in working with PSL over the coming years.”

Recently, IBS Intelligence reported that Phoebus Software Limited (PSL) had selected Six Degrees to offer public cloud capabilities within the PSL Partnership Programme. The partnership will increase PSL’s software application resilience and security and improve performance and the overall client experience. It is also expected to strengthen its cloud capabilities and accelerate the provision of cloud-native infrastructure to support its software applications.