The two books, totalling close to £2billion, were successfully migrated to Pepper’s platform in December 2013 and January 2014, maintaining the company’s 100% success record for delivering migrations on time and on budget.
Both portfolios include mortgages originated by a number of the leading specialist lenders from the past decade and beyond, and include performing and non-performing loans. The migration has enabled the clients to access and utilise Pepper’s renowned special servicing expertise and state of the art customer management and workflow operational platform.
In total over 17,000 individual loan accounts were migrated as part of these transactions, which involved bringing on board a new client for Pepper and also saw substantial growth in the assets under management for an existing Pepper client, further endorsement of the company’s skill and capabilities.
Richard Klemmer, CEO of Pepper UK commented:
“We believe that these are the biggest aggregate boardings of the past two years in the UK market. They have taken our domestic assets under management to over £4.3billion in the space of little more than two months.
“We never underestimate the technical complexities of bringing books of this scale onto our platform. Behind the scenes we deal with the challenges of moving from different lenders’ systems onto our own, while at the front end we have to ensure that every single customer – in this case tens of thousands of them – receives a seamless service and support on their account.
“We are proud that once again our team has delivered this flawlessly.”
