The bank, which cannot be named for reasons of confidentiality, has awarded the deal on a “warm” basis, meaning that Vertex is ready to deploy its people and systems within 60 days if invoked. This standby service will enhance the market’s confidence in the bank’s continuity planning and protect its reputation with a failsafe support mechanism.
Vertex’s client portfolio already includes major lenders including ING, Virgin, Birmingham Midshires, Alliance & Leicester, Tesco, JP Morgan and other large investment banks.
Vertex Financial Services’ managing director Robert Coyle says:
“We were selected on the basis of our ability to provide highly skilled staff, flexible and functional software and systems, and the scale of operations large enough to support the breadth of the bank’s mortgage offering.
“A bank of this size will inevitably require servicing for a wide and varied product range, including first and second charge, residential and commercial. Our experience and infrastructure would allow us to handle such assets with complete confidence.”
