Phoebus has launched its next generation cloud-native Software-as-a-Service (SaaS) mortgage servicing platform, following a  multi-million-pound investment in new technology.

Phoebus has transformed how the system can service all types of lending as well as savings and deposit-taking.

The new technology adds an additional level of authentication and security, and more open microservice application programme interfaces (APIs).

These APIs enable Phoebus’ clients to benefit from the services of other progressive technology firms by integrating with other suppliers within a broader ecosystem via its partnership programme.

Phoebus claims the changes increase business efficiency through agility and scalability. Other benefits include reduced infrastructure and operational expenditure, greater system availability and resilience against downtime.

The platform is specifically designed for ease-of-use and to increase business productivity. The design also reduces training requirements, helping to accelerate the onboarding process for new employees or application users.

Phoebus chief technology officer Neil Dyke says: “We have invested heavily in both technology and human resources – our exceptionally strong team has been working hard on developing this next-generation servicing platform. We’ve started moving our clients over to the new system, and this will continue over the coming months.”