Pancredit Launches Managed Hosting Solution for Standby Servicers
Yeadon-based Pancredit, a market leader in loan application, administration and collection systems, intelligent credit sourcing solutions and business intelligence tools, has launched an open and interoperable hosting platform for the standby servicers of securitised second charge mortgage and loan traders.
The platform enables standby servicers to migrate the secured and unsecured loan portfolios of their clients, thus ensuring they remain available and accessible throughout their securitisation and subsequent trading between investors. Pancredit’s outsourced hosting platform is based on the same suite of technologies that underpin Core Pancredit, the firm’s flagship loan application, administration and collections system which currently serves major UK banks and financial institutions.
“Our hosting platform is designed to enable the loan books of securitised portfolios to be fully administered by a standby servicer in the event that the originating lender either ceases to trade, or does not meet the conditions of their standby servicing agreement,” comments Graham Donald, Director, Pancredit. “Via our Core Pancredit system, our hosting platform is already servicing the loan books of some of the world’s leading lenders, so is well suited to support securitised loan assets. I’m pleased to say that we already have significant interest in our offering and I look forward to announcing a new deal with a major customer in the near future.”
Pancredit’s hosting solution combines secure hardware infrastructure, integrated software components and a suite of managed services designed to maintain the infrastructure, operating systems, databases, applications and web servers. Since both the initial data transfer and the ongoing access to the hosted portfolios are handled via the web, all that clients need in order to manage the transition and access their data is a stable broadband connection.
Pancredit has 25 years’ of systems development experience in the UK lending marketplace. Its solutions are in use with a wide range of financial services clients, including banks, financial institutions, brokers, price comparison sites and unsecured lenders in consumer, automotive, retail and education.