Fortress Belief Financial institution has renewed its contract with Phoebus, which can see it transfer onto the software program agency’s newest banking service platform over the subsequent 4 months.
The software program agency says the improve permits the lender to make use of the platform’s further features, comparable to its improved originations and migrations software programming interface and entry its synthetic intelligence-powered predictive person interface.
The software program has nearly 50 new capabilities and enhancements.
The 2 companies have labored collectively since 2016 when the financial institution migrated its complete mortgage guide of loans onto a bespoke system. The brand new deal lasts for 5 years.
Phoebus chief income officer Adam Oldfield says: “It now makes full sense for Fortress Belief to transition from the bespoke system we constructed for them seven years in the past to our market-leading, core servicing platform with all its further functionally and modern, digital functionality.
“The crew at Phoebus seems to be ahead to finishing this transition inside a four-month timeframe.
“We’ll then proceed to work intently with the financial institution in help of its ongoing lending servicing necessities.”
Fortress Belief Financial institution managing director, property, Barry Searle provides: “The Phoebus bespoke mortgage servicing system has served us effectively so far, however the scale and scope of digital innovation created throughout the Phoebus core banking servicing platform is the place we wish and must go to subsequent.”