Financial services provider set to support major strategic transformation programme

Step One Finance has selected Phoebus Software as its mortgage servicing partner to support its future lending growth and strategic goals.

Phoebus went live in Step One’s servicing operations mid-September, following a 14-week implementation, enabling Step One to service current and future mortgage lending requirements using Phoebus’ latest servicing product.

The Phoebus product delivers substantial account automation in all areas of the account servicing lifecycle, from basic tasks such as document generation, rate change and user diary management, through to more advanced requirements such as arrears management, including repossessions. Second charge and buy-to-let lending are the first product sets to be serviced.

As part of the delivery, Step One employees have been trained to maintain the Phoebus product so that they can react quickly to operational and market requirements without too much reliance on future supplier support.

Phoebus APIs are integrated with Step One’s technical infrastructure and third parties, providing functionality such as automatically onboarding originations and allowing borrower self-service.

Richard Pike (pictured), 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.

“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. 

“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.”