Bluestone Portfolio Management is a contemporary servicing business built around Bluestone’s experience managing large and diverse asset pools. Bluestone Servicing, BPM’s Australian sister company was established in 2006. Bluestone Servicing was able to procure and adapt a state of the art software system we’ve named ‘Boss’ – Bluestone's Origination & Servicing System.
Boss is a highly flexible servicing system which can be hosted efficiently and deployed quickly to either take control of existing pools or originate new portfolios. Boss sits on an industry standard SQL database, allowing it to be hosted on PC servers which can be easily and efficiently maintained. The availability of Boss has been exceptionally high - less than 2 hours down time in over two years. The open database design provides simple real time reporting via a number of industry standard packages as well as Boss’ native capabilities.
Boss’ flexibility is reflected in the wide variety of asset types we have successfully managed on it. These include residential mortgages with enhanced features such as internet banking and linked debit card capabilities, commercial mortgages, reverse mortgages, auto loans and personal unsecured loans. The system has fully customisable origination and management workflow steps, paperless file handling, links to email and SMS gateways for short-messaging to customers and telephone banking etc. Arrears management workflows can also be customised for different asset types, work stacks can be quickly moved between operators and teams, and digital voice recordings of calls automatically linked to a customers loan account.
Boss is hosted in Europe in a high grade, secure data centre with electrical and mechanical systems engineered with multiple levels of redundancy. The servers are linked to Bluestone’s Cambridge headquarters via twin redundant dedicated fiber links, with each link taking a different geographic path between sites.
Boss utilises a networked application storage assembly (NAS) to hold its portfolio databases which are each separated with a firewall. A number of portfolio transitions have been undertaken which usually include a full transaction history for each transitioned account, often numbering many millions of records in total. Real time back-ups are created hourly and held offsite on a second NAS. This regime is supplemented by daily offsite tape storage to underpin business continuity.
Bluestone Servicing is rated Above Average by Standard & Poors.