Vertex will be combining its Omiga and Optimus software to create an end-to-end operation at the lender’s base in Chester, which will include new business processing, post-completion services, collections and arrears.
It is the biggest outsourcing contract Vertex has signed and is the first time the company has incorporated its work in a project on the core propositions of the Financial Services division.
David Edwards, managing director of Vertex Financial Services’ mortgages business unit, said: “We are delighted to be working on this new and exciting venture with Deutsche Bank. The end-to-end platform we have created for db mortgages, as part of this new partnership, has enhanced our core capabilities dramatically and it will increase our potential to secure additional outsourcing and software deals in the future.”
The service has been purposely built for db mortgages, which is due to launch into the non-conforming, buy-to-let and self-cert markets later this year.
Bill Dudgeon, managing director of db mortgages, said: “We’re pleased to be working with a major provider of mortgage solutions and are confident it will enable us to bring a leading edge service proposition to the market.”
Mike Fitzgerald, sales director for Brentchase Financial Services, said: “Vertex has a good name in the industry and Deutsche Bank would only pick out someone of Vertex’s stature. It’s very good at what it does and the move shows how serious Deutsche Bank is about the mortgage market.
“Everyone is waiting to see what Deutsche Bank comes out with. While the market doesn’t desperately need it, they will provide a breath of fresh air.”
