Phoebus, the market leading software provider for mortgage and savings account servicing, has partnered with One Mortgage System (OMS) Originations.
The strategic partnership provides lenders and building societies with a seamless, end-to-end borrower journey. Clients can originate loans using OMS’s lender origination platform. On completion, they can then use the Phoebus originations and migration API to transfer account data to the next-generation Phoebus digital servicing solution.
Phoebus launched its strategic partnership and technical ecosystem programme in 2018 to create a best-of-breed group of non-core, value-add solutions for new and existing clients. As a fast-growing and functionally rich originations fintech, OMS fits well as a strong strategic partner for Phoebus for the future.
OMS Originations is a cloud-native platform that provides lenders and building societies with a frictionless mortgage origination process. It facilitates seamless communication between building societies, lenders, brokers and over 45 third-party partners such as valuers and conveyancers. OMS Originations allows lenders to create efficient workflows to meet a variety of borrowing requirements without having to endure lengthy development times or additional costs.
The result is a streamlined and efficient mortgage origination process that benefits everyone in the application process.
From completion, Phoebus provides highly automated primary and specialist servicing capabilities meaning that users only need to deal with cases by exception when they require attention. Backed up with an intuitive user interface and functionality in areas such as securitisation that many clients require, Phoebus is proven to reduce operational costs by increasing efficiency.
The end-to-end solution supports all lending types including residential, buy-to-let, bridging, commercial, specialist, second-charge and equity release.
Adam Oldfield, managing director at Phoebus, said: “OMS is an innovative, forward-thinking fintech that has made great strides in the past year or so and is now a great fit for our strategic partner programme.
“There are clear synergies between Phoebus and OMS, with both systems at the top of their game in what they do. Lenders and building societies using OMS are likely to be very familiar with Phoebus’ reputation for providing seamless migration, meeting all servicing requirements while providing a first-rate service.”
Dale Jannels, CEO at OMS, commented: “The majority of incumbent mortgage origination technology is outdated and hard to customise. Our mission is to change that for banks, traditional and specialist lenders, plus modern mutuals. Our next generation OMS Originations software allows any lender to make mortgage decisions faster and more efficiently, transforming the buying journey for the consumer and the intermediary.
“This collaboration with Phoebus enables OMS Originations clients to benefit from a state-of-the-art, end-to-end lending journey.”
Phoebus and OMS are both associate members of The Open Property Data Association (OPDA), working with the trade body to innovate how technology is used to enable property processes to go through more smoothly and much quicker. Together, they want the property industry to evolve into a more digital environment, where the storing, accessing and sharing of data doesn’t create the barrier to efficient property buying and selling that it does today.
