Sutherland Mortgage Services has agreed a five-year, seven-figure deal with 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, chose Unisys to develop a “unique ecosystem” based on its Elevate platform.
Launched last year, Elevate is an end-to-end digital banking software platform and suite of applications for financial institutions of all sizes. It can be adapted to fit a range of business needs, including the origination and processing of mortgages, loans, savings and current accounts, and can be delivered via mobile device or tablet, internet browser or inside a branch.
Scott Slifer, global head of mortgages and CEO of Sutherland Mortgage Services UK, said: “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.
Eric Crabtree, global head of Unisys Financial Services, added: “We have an excellent working partnership with Sutherland: its UK leaders are well-known and experienced individuals with years of proficiency and relationships in the mortgage market. Combining their expertise with Unisys’ proficiency in financial services, both in terms of our service delivery expertise and our IP — grounded in our Elevate platform — our two global organizations can work together to empower today’s banking customers, equipping them with the capability to bank from anywhere, at any time, exactly how they would like.”