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Selina Finance, second charge specialist, has signed a five-year contract for Phoebus’ mortgage servicing platform.
As part of the long-term agreement for the mortgage servicing platform, Phoebus will now be responsible for the servicing of the mortgage loans administered by Selina Finance.
Selina Finance said that it chose Phoebus’ mortgage servicing platform due to its “best-of-breed digital capability, advanced technology, and proven track record in providing excellent servicing”.
From the first conversation between the two firms to user testing and contract finalisation, the process only took 15 weeks. Selina Finance said that “speed was of the essence” and it wanted to be running on the mortgage servicing platform as soon as possible.
Randolf Luttner, chief operating officer (COO) at Selina Finance, said: “Phoebus has an excellent track record for servicing and I have been very impressed with the technological capabilities the team has been able to demonstrate. The mortgage servicing platform is second to none and I know Phoebus will deliver a robust, easy-to-use, intelligent system for our staff to use.
“We wanted to be up and running quickly and Phoebus has been able to deliver on that requirement with remarkable speed and accuracy. We are looking forward to working with Phoebus in the coming years.”
Adam Oldfield, managing director at Phoebus, added: “Selina Finance is an innovative, ambitious, and growing lender and is a very welcome addition to our client user group. By leveraging our technology, Selina Finance can efficiently manage its mortgage book, ensuring seamless operations and enhancing overall customer experience.”
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