Atom Bank goes public on new tech addition, Phoebus lending system
As first reported by Banking Technology in early May, Phoebus Software has gained a new customer – UK challenger bank Atom.
The five-year deal will see Phoebus’ lending software supporting Atom’s secured business lending and account servicing for Atom’s residential lending.
The new platform will be used by the bank’s team to originate loans for customers through intermediary lending. Phoebus says that “the first applications are now being processed”.
Craig Iley, MD of business banking at Atom, comments on the choice of vendor: “We chose Phoebus for the depth of functionality that already exists in its servicing platform and the company’s willingness to work with us to adapt its system”.
He adds that “servicing a business loan should be simple, straightforward and add value to the customer’s overall management of their finances”.
The six-month project includes multiple interfaces and integration with other solutions already accumulated by Atom Bank. Click here to view a comprehensive list of the bank’s systems and tech providers.