Phoebus Software Limited (PSL) and Keystone have signed a four-year contract which will see the specialist lender onboard all new mortgage completions onto the latest Phoebus account servicing product.

New completions will be onboarded onto the platform using the Phoebus originations and migrations API, which will also offer Keystone the potential to migrate other books onto the platform in the future.

PSL confirmed that the first phase of the solution took approximately two months to be delivered into user acceptance testing (UAT). The solution went live in May 2022 and functionality includes all Keystone’s servicing and securitisation requirements.

The solution facilitates Keystone’s full buy-to-let product range, including green products, while future deliverables will include the Phoebus Borrower Self-Service Portal.

PSL sales and marketing director, Richard Pike, commented: “Keystone is a very well-known and respected brand in the buy-to-let market. Its requirements were a particularly good fit with our core servicing product meaning that both the discovery and delivery were very smooth and we were able to implement at speed.

“An attractive area is Keystone’s commitment to ESG, a subject also embedded in PSL’s culture, and its commitment to and knowledge of this area is very impressive. We expect to enjoy a successful partnership over the coming years.”

Keystone managing director, Elise Coole, added: “The Phoebus servicing platform is a great fit for our requirements and through our interaction we can also see PSL is a very client focussed business.

“The project has been a great success and our teams have worked very well together throughout the lifecycle of the delivery. We look forward to working with PSL to deliver our requirements as they continue to evolve moving forward.”

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