Marlborough Stirling acquires Plexus

UK-based financial solutions provider Marlborough Stirling has acquired Plexus Systems Designs, a Canadian supplier of loan administration software, for an undisclosed sum.

  0 Be the first to comment

Marlborough Stirling acquires Plexus

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Plexus clients include Canadian Imperial Bank of Commerce (CIBC), with a portfolio of $50 billion. Twelve of the UK’s mortgage lenders use Marlborough Stirling’s software-based mortgage systems and outsourcing services. The company currently employs 900 people from offices in the UK, Ireland, South Africa and Canada.

Marlborough Stirling’s corporate development director, David Gales, says the buy out of Plexus will strengthen the company's market position and provide a springboard for expansion into international markets.

The acquisition follows an existing co-development partnership between the two companies to build a straight through processing (STP) mortgage solution across all distribution channels. This has been achieved through the integration of Marlborough Stirling's front office eCRM product, Omiga, with Plexus' back-office software product, Optimus, says the company.

Marlborough Stirling believes the fixed cost end-to-end solution will be highly desirable for new mortgage companies who may find market entry costs prohibitive. The combined system is designed to handle the administration of each loan from the first point of customer contact through its lifecycle, including electronic point-of-sale, underwriting, mortgage application processing, loan servicing, renewal management and securitisation.

Sponsored [New Impact Study] Bank Legacy Transformation is Not a New Challenge: Exploring the Solutions

Comments: (0)

[New Report] AI Strategies for Scalable, Secure and Compliant BankingFinextra Promoted[New Report] AI Strategies for Scalable, Secure and Compliant Banking