Monmouthshire Building Society has selected Phoebus to deliver account servicing solutions for its 90,000 mortgage and savings members.
Monmouthshire will use Phoebus to automate tasks in mortgage and savings servicing, such as sending documentation, managing rate changes, and handling user diaries.
Phoebus will also support arrears management, including repossessions.
The Phoebus originations and migrations application programming interface (API) will be used for onboarding new business and migrating existing portfolios from previous supplier systems.
Adam Oldfield, CEO at Phoebus, said: “Monmouthshire is a progressive Society and we are delighted we are working with them on this programme.
“We have had great engagement at all levels throughout the tender process.
“The multi-million-pound investment we have made in our latest mortgage and savings product, including the ability to migrate books of any size accurately and efficiently, means we are a great fit for any Society considering moving to modern SaaS tech, delivered by a reliable partner that has experience of what Building Societies are doing and their market.”
Will Carroll, CEO at Monmouthshire Building Society, said: “After a thorough process, we are delighted to be partnering with Phoebus on this transformation programme.
“Not only did the Phoebus Product stand out in terms of being at the forefront of what you expect from a modern core banking solution, this is backed up by over 35 years’ experience of doing what they do, which is really reassuring for us, and I am sure for any other clients they have.
“We look forward to working together in partnership with Phoebus for many years to come.”
