Latest news with #MonmouthshireBuildingSociety
Finextra
08-05-2025
- Business
- Finextra
Monmouthshire Building Society selects Phoebus for account servicing
Monmouthshire Building Society has selected Phoebus to provide account servicing solutions to its 90,000 mortgage and savings members. 0 The partnership is announced following a market-wide vendor selection process lasting several months. Through implementing Phoebus, Monmouthshire will benefit from substantial account automation in all areas servicing mortgages and savings, including basic tasks such as sending out documentation, rate changes and user diary management, through to more advanced requirements such as arrears management, including repossessions. The Phoebus originations and migrations API will manage on-boarding of new business originations and migrate the existing portfolios managed on existing supplier systems. Adam Oldfield, chief executive officer at Phoebus says, 'Monmouthshire is a progressive Society and we are delighted we are working with them on this programme. We have had great engagement at all levels throughout the tender process. The multi-million-pound investment we have made in our latest mortgage and savings product, including the ability to migrate books of any size accurately and efficiently, means we are a great fit for any Society considering moving to modern SaaS tech, delivered by a reliable partner that has experience of what Building Societies are doing and their market.' Will Carroll, chief executive officer at Monmouthshire Building Society says, 'After a thorough process, we are delighted to be partnering with Phoebus on this transformation programme. Not only did the Phoebus Product stand out in terms of being at the forefront of what you expect from a modern core banking solution, this is backed up by over 35 years' experience of doing what they do, which is really reassuring for us, and I am sure for any other clients they have. We look forward to working together in partnership with Phoebus for many years to come.'
Finextra
06-05-2025
- Business
- Finextra
Monmouthshire Building Society modernises mortgage journey with MQube
Monmouthshire Building Society today announces a new partnership with MQube, a mortgage technology provider. 0 The Society will adopt MQube's AI-powered mortgage origination platform, 'Origo', as part of a strategic move to enhance service delivery, cut processing times, and support more borrowers with faster, simpler mortgages. Using advanced artificial intelligence and real-time data analysis, 'Origo', instantly reviews a broad range of financial, credit, and property data. This allows Monmouthshire Building Society to process mortgage applications far more quickly than traditional methods, cutting decision times from days to minutes. This move comes as Monmouthshire Building Society continues its transformation journey. The integration of Origo will help the mutual stay agile in an evolving mortgage landscape, delivering more consistent decisions and reducing the friction borrowers and intermediaries often face. By asking only the questions that can't be answered through other data sources, Origo also minimises repetitive document requests and back-and-forth with underwriters, improving the experience for brokers and customers alike. MQube's team is working closely with Monmouthshire Building Society to tailor the platform to its unique needs, ensuring seamless integration with its systems and processes. The platform is already live in the UK with MPowered Mortgages who introduced the one day mortgage earlier this year. Will Carroll, Chief Executive Officer at Monmouthshire Building Society, commented: 'At Monmouthshire Building Society, we're committed to using technology to deliver better outcomes for our members. Borrowers today expect not just great service but also speed and certainty and we're determined to deliver on all fronts. Our partnership with MQube gives us access to cutting-edge technology that will help us simplify the mortgage journey while reducing costs and risk. It's a key step in our ongoing journey to be a modern mutual that truly puts members first.' Stuart Cheetham, Founder and CEO of MQube, added: 'We're thrilled to welcome Monmouthshire Building Society to the Origo platform. As more lenders embrace AI and automation, it's great to see a forward-thinking mutual leading the way. Origo is already powering faster mortgages at MPowered and we're excited to help Monmouthshire bring those same benefits to their customers and brokers. We look forward to supporting them on their journey and continuing to help reshape the mortgage industry for the better.'
