Lynx Financial Systems has announced that Preferred Mortgages has purchased Summit, the modular retail banking solution from Lynx.
Preferred has also purchased the Lynx debt management system, Portfolio Collect. The Lynx systems aims to further improve customer service levels to borrowers and to intermediaries, including mortgage brokers, mortgage packagers and IFAs.
Phil Hopes, financial director of Preferred, says: “We recognise how vital IT is to our future success and are making a substantial, seven figure investment in the Lynx mortgage and debt collection systems. The new systems will allow us to continue to offer first class customer service, both to mortgage intermediaries and to customers. Lynx will be a key factor in helping us to achieve our growth targets for the coming years.”
The Lynx Summit system will provide Preferred with an end-to end processing and administration system to deal with customers and their mortgages. Summit's Initiate and Activate modules provide the customer with mortgage illustrations and control the whole application process through to completion of house purchase. After completion Summit will then manage the customer's mortgage throughout its entire lifecycle. Portfolio Collect will ensure that Preferred has complete control over its mortgage arrears portfolio.