IBS Journal February 2016


Orchestrated manoeuvres in the spotlight


Anthony Keeble, CFO of UK-based mortgage lender and servicer Paratus AMC, explains the teamwork and attention to detail behind a large migration project with Phoebus Software.


Made in Britain are the watchwords of Para- tus AMC’s recent successful migration of over 209,000 loan accounts from HML, a third-party fi nancial administration fi rm, onto Phoebus’ servicing platform. With meticulous planning, the project


went live during the weekend of 2nd-3rd May 2015 – deliberately timed to coin- cide with the UK’s bank holiday (i.e. public) weekend.


Keeble says that both teams at Para-


tus AMC and Phoebus ‘worked very closely’ throughout the project. As way of background, Phoebus was founded in 1989 and became fully inde-


Anthony Keeble, Paratus AMC


pendent in 1997. It off ers a multi-channel, multi-product and multi-currency banking, lending and deposits solution. It has over 20 clients in the UK and over £25 billion in assets running on its software. For Paratus AMC, in addition to lending


on buy-to-let (BTL) loans through its Foun- dation Home Loans brand, it manages over £2.7 billion mostly securitised BTL and reg- ulated mortgage loans. As you would expect, it was critical that there was no downtime for its customers.


Jade empire Before Phoebus arrived on the scene, Para- tus AMC had been working with another domestic vendor, Homeloan Management Limited (HML), and using its Jade system for a number of years. Keeble says: ‘The arrangement with


HML was to run the Jade system for a few years. In 2011 we transitioned from out- sourcing most servicing activities to HML to an arrangement we merely used the vendor’s loan accounting system in combi- nation with on our own asset management application. ‘However, HML had limitations placed


upon us, such as adding additional busi- ness and in terms of making any amend- ments to that system we were paying a large provider who genuinely provided a full service outsourced operation rather than the software.’ The initial plan with HML was a three-


40 © IBS Intelligence 2016 www.ibsintelligence.com


case study: paratus amc


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