Phoebus Software has entered into a five-year agreement with Monmouthshire Building Society to deliver account serving technology for the society’s 90,000 mortgage and savings members.

Phoebus’s technology platform services multi-channel, multi-product and multi-currency banking lending and deposits. It has more than 25 clients in the UK and Ireland, which boast more than £120bn in assets.

As part of the partnership, the society will gain automation across its mortgage and savings servicing operations, including everyday functions such as issuing documentation, processing rate changes and managing user diaries.

It also includes more complex processes like arrears management and repossessions.

The implementation will also see Phoebus’ originations and migrations API used to onboard new lending and transfer existing portfolios from incumbent systems.

Chief executive officer at Phoebus Software, Adam Oldfield, said: "This partnership reflects a shared commitment to innovation and service excellence. The society’s ambition to modernise its operations aligns perfectly with our technology and experience.

"We’ve invested heavily in ensuring our solution can handle complex migrations with accuracy and efficiency, giving organisations like The Monmouthshire the confidence to evolve its systems without disruption. We’re proud to be supporting the building society on this next stage of its digital journey."

CEO at Monmouthshire Building Society, Will Carroll, added: "Choosing the right technology partner was a key part of our long-term strategy, and Phoebus clearly demonstrated both the capability and the understanding we were looking for.

"Its platform combines the flexibility and automation we need with decades of proven experience in the market. This partnership will help us deliver even better outcomes for our members, and we’re excited to see what we can achieve together over the coming years."

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