Phoebus Software Limited (PSL) and Keystone have signed a four-year servicing contract.

The agreement will see the specialist lender onboard all new mortgage completions onto the latest Phoebus account servicing product.

Day one, all new completions will be onboarded onto the platform using the Phoebus originations and migrations API. This will also offer the potential to migrate other books onto the platform in the future should Keystone want to do so.

Delivered using agile delivery methodology, the first phase of the solution took around two months to be delivered into user acceptance testing (UAT). The solution went live in May and functionality includes all Keystone’s servicing and securitisation requirements.

The solution facilitates Keystone’s full buy-to-let product range including “green” products, and future deliverables will include the Phoebus Borrower Self-Service Portal.

Richard Pike (pictured), sales and marketing director at Phoebus Software Ltd, said: “Keystone is a very well-known and respected brand in the buy-to-let market. Its requirements were a particularly good fit with our core servicing product meaning that both the discovery and delivery were very smooth and we were able to implement at speed.

“An attractive area is Keystone’s commitment to ESG, a subject also embedded in PSL’s culture, and its commitment to and knowledge of this area is very impressive. We expect to enjoy a successful partnership over the coming years.”

Elise Coole, managing director at Keystone, added: “The Phoebus servicing platform is a great fit for our requirements and through our interaction we can also see PSL is a very client focussed business. The project has been a great success and our teams have worked very well together throughout the lifecycle of the delivery. We look forward to working with PSL to deliver our requirements as they continue to evolve moving forward.”