Monmouthshire Building Society has selected Phoebus to provide account servicing solutions to its 90,000 mortgage and savings members.

The partnership is announced following a market-wide vendor selection process lasting several months.

Through implementing Phoebus, Monmouthshire will benefit from substantial account automation in all areas servicing mortgages and savings, including basic tasks such as sending out documentation, rate changes and user diary management, through to more advanced requirements such as arrears management, including repossessions. The Phoebus originations and migrations API will manage on-boarding of new business originations and migrate the existing portfolios managed on existing supplier systems.  

Adam Oldfield, chief executive officer at Phoebus says, “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, chief executive officer at Monmouthshire Building Society says, “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.”