Phoebus Software Limited (PSL) signs a servicing contract with Lendco

By Joy Dumasia

Phoebus Software Limited (PSL) and Lendco have signed a four-year contract to see the specialist lender onboard all new mortgage completions onto the latest Phoebus digital account servicing platform. Lendco’s existing book of buy-to-let mortgages, bridging and refurbishment loans will be migrated onto the Phoebus platform in Q1 2022. 

The Phoebus solution was delivered into user acceptance testing (UAT) within three months of Lendco signing off its requirements. The solution went live in December 2021 and encompassed all of Lendco’s primary and special servicing requirements and facilitated all of Lendco’s securitisation needs. The award-winning Phoebus originations and migrations API will be used to automate the onboarding of cases.

Richard Pike, sales and marketing Director at Phoebus Software Ltd, 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. This deal reinforces our position as the market-leading account servicing supplier in the UK and Ireland, and we very much look forward to working with Lendco for many years to come.”

Ian Ferguson, Operations Director at Lendco, commented: “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. We look forward to working with them in partnership to achieve mutual success for both parties.” 

IBS Intelligence also reported that Phoebus Software Limited (PSL) had selected Webio to supply multi-channel customer social media communication for PSL’s clients. This partnership is the latest addition to the Phoebus Ecosystem Programme that pulls together best of breed suppliers across a range of non-core Phoebus services.