Pepper Advantage has launched Prism, its proprietary end-to-end credit and mortgage servicing platform.
The platform was built in-house and collates portfolio loan data and analysis, workflow management and servicing tools in one place to help lenders, managers and investors refine portfolio performance and deliver better outcomes for borrowers.
The Prism platform has real-time data visualisation, analytics and automated workflows. It aims to give users early notice of any risks, improve efficiency by reducing manual processes and provide firms with reporting capabilities to remain compliant.
It also has a digital interface that can replace legacy platforms with a single access point.
Pepper Advantage said there was already “strong demand” for the technology, which has migrated more than a dozen portfolios valued at over £1.5bn in assets under management.
This includes a recent migration of a nearly £400m portfolio, which was its largest to date. Over 17,000 loans are managed on Prism across the UK and Spain, with clients including eight major banks.
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Fraser Gemmell, group CEO of Pepper Advantage, said: “Prism is hitting milestone after milestone, with demand far exceeding expectations. It offers the seamless, tech-driven experience clients crave while supporting an improved borrower experience.
“Our team has created the new standard in credit management technology, one that allows us to better serve customers, opens up new direct lending opportunities, and provides a faster go-to-market path for both traditional and non-traditional lenders.”
The launch comes after a period of investment in technology by Pepper Advantage into its data, software and artificial intelligence (AI) capabilities.
The firm aims to modernise the credit market and support all kinds of portfolios, including residential mortgages, equity release and unsecured loans. It plans to launch buy-to-let (BTL) and other offerings next year.
Prism can also be white-labelled and integrated into new and existing systems, so it can be used without long and costly servicing.
Earlier this year, Pepper Advantage acquired Computershare’s UK mortgage servicing business, marking the latter’s exit from the UK market.