London, May 23rd– Sopra Banking Software and Kensington Mortgages today announced a renewal of the managed services partnership between the two organisations for a further five-year term.
Sopra Banking has a long-standing relationship with Kensington Mortgages providing the core mortgage servicing solution and associated application service management driving Kensington Mortgages core business. Going forward, Sopra Banking Software will continue to manage all activities regarding core mortgage operations; and will also assume responsibility for modernising core mortgage infrastructure, software environments, and delivering new digital functionality to users.
Richard Broadent, Managing Director, Sopra Banking Software UK, says:«We are very proud of the work Sopra Banking Software has done to help Kensington Mortgages achieve its innovation and business goals over the past ten years. We are excited to be continuing our partnership and helping Kensington Mortgages deliver enhanced operational performance and supporting their exciting plans.»
Andrew Foreman, CIO, Kensington Mortgages commented:«In Sopra Banking Software we have a partner that is performing at best-ever levels. We are proud of the relationship and results we have achieved with Sopra Banking over the last decade. They remain a valued strategic partner in supporting the business drive we have, and we have great ambitions for the digital solutions in this next phase. We are delighted to be continuing our association with Sopra Banking Software and are confident that our business objectives align very well with Sopra’s digital software and service portfolio.»
About Kensington Mortgages
Kensington is the UK’s leading non-bank specialist mortgage lender. With a 24 year heritage, Kensington uses a combination of data and human insight to look beneath the surface, to go deeper than mainstream lenders where all too often the answer is “computer says no”. It is this “head and heart” approach which is the key to the #KensingtonDifference. With assets under management of over £11billion, Kensington services c£5.5billion assets for third parties. It originated c£1.2billion of new mortgages in 2018 representing a CAGR of more than 25% over the last four years. Kensington is one of the most frequent issuers of residential mortgage backed securities in the UK with 16 securitisations totalling over £8billion since 2015.
About Sopra Banking Software
With 4 300 experts, a pro forma turnover 2018 of € 402,2 million and one of the deepest, broadest portfolios of software and services, Sopra Banking Software is a trusted, long-term partner of over 800 banks in more than 70 countries. Sopra Banking Software has an unequalled ability to address the requirements for banks and financial institutions of any size and scope, allowing them to innovate and expand their services. Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in digital transformation, with more than 44 000 employees. In 2018, Sopra Steria achieved generated a revenue of € 4,1 billion.
For more information follow us on twitter @SopraBanking or visit www.soprabanking.com
Sopra Banking Software: Natalie SWEET | +44 (0) 117 313 4646| [email protected]
Burson Cohn & Wolfe (BCW): Nicolas Trinquier, +33 (0)6 75 61 78 83, [email protected]