Sutherland Mortgage Services has announced a five-year, seven-figure deal with global information technology company Unisys Corporation to launch a bespoke outsourced mortgage servicing platform for the UK market.
The third-party servicer, which has around $250 billion in mortgage assets under management worldwide, enlisted Unisys to develop a unique ecosystem based on its Elevate™ platform, designed to deliver efficient, scalable and regulatory compliant omnichannel banking to its financial services customers.
Unisys banking technology, which already supports approximately 40 percent of the UK mortgage market, has been stood up for Sutherland to support multi-client mortgage servicing, migration and management of legacy books, rapid scalability and diversification into other asset classes such as savings and banking.
Scott Slifer, Global Head of Mortgages and CEO of Sutherland Mortgage Services UK, explains:
“Our proposition for the UK market revolves around digital transformation and innovation. The Sutherland brand is built on the principles of putting technology at the forefront and market leading expertise in customer experience, so we needed the world’s most reliable, secure and advanced technology platform on which to build. We also believe our investment with Unisys shows our long-term commitment to the UK market.
“We selected Unisys for a number of reasons. First, scalability is vital, as we plan to grow rapidly in the UK and require a partner that can grow with us. The modular nature of the Elevate platform means we can add necessary functionality quickly and a cloud-based offering was important to us. Secondly, security and integrity of client and customer data is paramount - both for regulatory and reputation reasons - and the platform incorporates the Unisys Stealth® security suite, which uses identity-based microsegmentation techniques and encryption to create secure segments across a network.
“Thirdly, we wanted a platform in which we could utilise our own digital transformation tools, to create further efficiencies for our clients and give customers the channels of communication they require in today’s ever changing market. Along with this, Unisys invests millions every year in continuous improvement, research and development. Combined, this means we are we will always be ready for the “next big thing”, such as open banking, biometrics and regulatory changes.
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