Phoebus Software (PSL) and Atom Bank have signed a five year contract to work together to provide servicing across Atom’s secured business lending proposition and account servicing for Atom’s residential lending portfolios.
Phoebus and Atom have been working to deliver Atom’s business lending platform within six months of agreeing the requirements, with the first applications now being processed.
Phoebus’s software will give Atom’s internal team the platform needed to originate loans for customers through intermediary lending.
Richard Pike (pictured), sales and marketing director at PSL, said: “This project, and the achievement of the delivery timeline, is testimony to a true client partnership approach. Both parties worked together to achieve a common goal with an open and pragmatic approach supporting the project objectives.
“We look forward to continuing work with Atom, developing new enhancements and services as their business requires them.”
Craig Iley, managing director business banking at Atom, added: “Servicing a business loan should be simple, straightforward and add value to the customer’s overall management of their finances. We chose Phoebus for the depth of functionality that already exists in their servicing platform and their willingness to work with us to adapt their system to support the innovative technology.
“Their partnership approach will allow us to continually improve the customer experience as we extend our app development to provide self-service capability for business loans.”