Vertex announces Deutsche Bank deal

Amanda Jarvis

March 14, 2006

db mortgages will be based in Chester and will be an end-to-end operation encompassing new business processing, post-completion servicing, collections and arrears.

The partnership between the two companies will be based on the combination of Vertex Financial Services’ Omiga and Optimus software and outsourcing capabilities. The service is purpose built for Deutsche Bank, and is Vertex’s largest mortgage outsourcing contract to date.

It is a significant step in the growth of Vertex Financial Services as it marks the first time that Vertex’s outsourcing resources have been incorporated within a solution based on the core propositions of the Financial Services division. This is consistent with Vertex’s strategy to build on its position as a leading UK mortgage outsource provider, investing in and strengthening its position within the Financial Services Industry.       

Bill Dudgeon, managing director of db mortgages, said: “We are pleased to be working with a major provider of mortgage solutions and are confident that it will enable us to bring a leading edge service proposition to the specialist mortgage market.”

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. This marks our largest mortgage outsourcing deal to date.  

“Vertex Financial Services was already a strong player in the provision of third-party administration services for a variety of UK lenders. However, the end-to-end platform that 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.”

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