Step One Finance has selected Phoebus Software as its mortgage servicing partner to support future lending growth and its wider strategic plans.
Phoebus went live in Step One’s servicing operations in mid-September after a 14-week implementation.
The system now supports both current and future mortgage lending using Phoebus’ latest servicing product.
The Phoebus platform automates account servicing across the full lifecycle, from document generation and rate changes to arrears management and repossessions.
Second charge and buy-to-let (BTL) lending are the first products to be serviced on the new system.
Step One employees have been trained to maintain the Phoebus system themselves, allowing for a quicker response to operational and market changes with less reliance on future supplier support.
Phoebus application programming interfaces (APIs) link into Step One’s technical infrastructure and third parties, enabling features such as automatic onboarding and borrower self-service.
Richard Pike, chief sales and marketing officer at Phoebus, said: “Step One has been a model client to work with on this programme.
“Throughout the process there has been a ‘can do’ and ‘adopt don’t adapt’ attitude combined with full acceptance of what Phoebus does so well in the market today for many specialist lending clients.
“The proof of the pudding is in the eating of course, and working so efficiently together to get Step One live in 14 weeks was just a brilliant effort from both parties working collaboratively to get the job done.”
Pike added: “This partnership demonstrates Phoebus is a great fit for any organisation considering moving to modern SaaS mortgage technology, delivered by a reliable partner that has unrivaled experience of the market requirements in this mission critical area.”
Michael Childress, CEO at Step One Finance, said: “After a thorough review of available options in the market, we are delighted to be partnering with Phoebus for our primary loan management system.
“We are impressed by the system functionality and the professionalism of their team in delivering the project on time and within budget.
“Our partnership with Phoebus is part of a larger transformational technology project targeting a fully digital, enhanced customer journey that will offer our customers a best-in-class user experience consistent with our core principles of responsibility, transparency, fairness and simplicity.”
Childress added: “We chose Phoebus as an agile, customer-centric SaaS partner whose automation capabilities and track record align with our growth ambitions and governance standards.
“We look forward to building on this foundation and working together in partnership with Phoebus for many years to come.”
