Keystone Extends Partnership with Phoebus Software

Keystone Property Finance has extended its partnership with Phoebus software, migrating a second portfolio onto the servicing platform. The book of nearly 2,000 accounts with a value of £296m was migrated over a weekend, with Keystone’s servicing team able to service the accounts immediately on their return to work.

Phoebus software has invested in a migrations application programming interface (API) that allows the process to be as automated as possible, with key controls, checks and balances for penny perfect migrations.

The migration utilised the migrations API that Phoebus has invested in, and allows the process to be as automated as possible, with key controls, checks and balances for penny perfect migrations. Keystone migrated this portfolio from its previous outsourced provider.

“We have worked with Keystone for a number of years now, and we have a very good way of working together.” - Adam Oldfield, Chief Revenue Officer at Phoebus software

This followed Keystone’s success on the recent Hops Hill No.4 securitisation of £566m, the largest in the company’s history. These mortgages are also now hosted on Phoebus’ servicing platform.

Keystone’s success on the recent Hops Hill No.4 securitisation of £566m, the largest in the company’s history.

David Whittaker, CEO at Keystone, added: “Phoebus have been on the ball since day one. They knew our longer-term strategic objectives and have been there every step of the way for us. The challenges have been fully mitigated through working with a servicing software partner that actually knows what they are doing.”

Keystone and Phoebus have a very good way of working together, with a strong partnership that has been successful in delivering high-profile projects.