Castle Trust Bank has renewed its contract with Phoebus, which will allow it to upgrade to the software company’s latest banking services platform over the next four months.
The software company says the upgrade allows the lender to use the platform’s additional features, such as its improved native and migration application programming interface, and access its user interface. predictive based on artificial intelligence.
The software has almost 50 new features and improvements.
The two companies have worked together since 2016, when the bank migrated its entire mortgage portfolio to a bespoke system. The new contract lasts for five years.
Adam Oldfield, Chief Revenue Officer of Phoebus, says: “It now makes perfect sense for Castle Trust to move from the bespoke system we built for them seven years ago to our market-leading central service platform. with all its additional functional and contemporary digital capabilities.
“The Phoebus team is excited to complete this transition within four months.
“We will then continue to work closely with the bank to meet their ongoing loan servicing needs.”
Barry Searle, Managing Director of Castle Trust Bank, Property, adds: “Phoebus’ bespoke mortgage services system has served us well so far, but the scale and scope of digital innovation created within the Phoebus’ core banking platform is where we want and need to go. next.