Keystone completes portfolio migration to Phoebus platform

The portfolio includes nearly 2,000 accounts valued at £296 million

Keystone completes portfolio migration to Phoebus platform

Specialist lender Keystone Property Finance has successfully completed the migration of a second portfolio on to the Phoebus servicing platform.

This portfolio, which includes nearly 2,000 accounts valued at £296 million, was transferred over a single weekend, allowing Keystone’s servicing team to begin managing the accounts immediately upon their return to work.

The migration process leveraged the Phoebus API, a tool that has seen significant investment to maximize automation. This API includes essential controls, checks, and balances to ensure an accurate migration.

The move follows Keystone’s recent success with the Hops Hill No.4 securitisation, a £566 million transaction that stands as the largest in the company’s history. These mortgages are also now hosted on the Phoebus servicing platform, further strengthening the relationship between the two firms.

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“We have worked with Keystone for a number of years now, and we have a very good way of working together,” said Adam Oldfield (pictured left), chief revenue officer at Phoebus Software Limited. “To assist them in successfully delivering two such high profile projects in short order proves the effectiveness of our working relationship, which is something we strive for across all of our client relationships.

“Keystone is one of many clients that utilise our migrations expertise and technology. We continually achieve migrations in record time under a robust system that we are very proud to say has never failed.”

Commenting on the partnership, David Whittaker (pictured right), chief executive of Keystone Property Finance, said Phoebus had been “on the ball since day one.”

“They knew our longer-term strategic objectives and have been there every step of the way for us,” Whittaker said. “The challenges have been fully mitigated through working with a servicing software partner that actually knows what they are doing.”

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