Phoebus has launched a cloud-native software-as-a-service mortgage servicing platform, following its multi-million-pound investment in new technology.

The new technology builds on the calculation engine which was developed by Phoebus and adds a new level of authentication and security, as well as more open microservice application programme interfaces (APIs).

These APIs enable Phoebus’ clients to benefit from the services of other technology firms by integrating with other suppliers within a broader ecosystem via its partnership programme.

As a result, Phoebus clients can experience increased business efficiency through agility and scalability, while other benefits include reduced infrastructure and operational expenditure, greater system availability and resilience against downtime.

The firm has said that lenders and deposit-takers will be "particularly interested" in the new user interface, with the new contemporary design supporting their business processes, whilst also reducing training requirements.

These changes are expected to help accelerate the onboarding process for new employees or application users.

Chief technology officer at Phoebus, Neil Dyke, said: "We have invested heavily in both technology and human resources – our exceptionally strong team has been working hard on developing this next-generation servicing platform. We’ve started moving our clients over to the new system, and this will continue over the coming months."

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