Phoebus Software has revealed that clients using its platform are now servicing more than £120 billion in loan and savings assets.

This follows a 25% increase in the volume of specialist lending assets managed on the platform in 2024, including equity release.

The company attributes the growth to ongoing investment in its digital servicing technology, which supports both retail and commercial lending, as well as deposit products.

Phoebus says it continues to expand its API ecosystem, facilitating integration with origination platforms and client applications, including self-service portals, mobile apps, finance systems, and data warehouses.

INCREASED MIGRATION ACTIVITY

The company’s client base includes specialist lenders, banks, equity release providers, building societies, and business process outsourcers, many of whom actively originate loans and use the Phoebus platform for account servicing.

Phoebus also supports clients with direct portfolio migrations, without requiring third-party assistance. In 2024, the company managed multiple migrations, including one involving more than 200,000 accounts, completed on time and within budget.

CONTINUED MARKET EXPANSION

Adam Oldfield, chief executive officer at Phoebus, claims the latest figures reflect the company’s position in the market as a preferred servicing provider.

“These figures are representative of our position in the market as the servicing supplier of choice,” he said. “We’ve been working in the financial services industry since 1989, and this maturity, coupled with our latest digital offerings, means clients on both sides of the balance sheet can benefit from our experience and technology.

“With further developments ahead, we anticipate a strong performance moving into 2025 and beyond.”