Phoebus Software Limited (PSL) has reported that client lending and savings balances serviced on its platform has surpassed £40 billion.

PSL’s multi-currency system services a range of products for banks, lenders and third-party servicers. The company has invested a large amount in research and product development over many years, particularly since the last credit crisis.

The firm’s clients use its system to automatically monitor payments, generate documentation and create work queues.

Richard Pike, sales and marketing director of PSL, said: “This is a real achievement for PSL and is testimony to the quality of the Phoebus product. The fact that we can efficiently service so many differing products, across retail and business lending and savings, really shows the product accurately does exactly what it needs to, as a market leading servicing system.

“With our vast experience of migrating portfolios in a transactional market, and the return of securitisation in the UK, managed for our clients by the Phoebus securitisation module, we are well positioned to continue this growth for the foreseeable future.

“As our existing clients continue to grow, we are still receiving regular interest in Phoebus from banks, lenders and servicers alike, and so the future looks very positive.”