Phoebus has revealed that it now services more than £20 billion of equity release loans in the UK.

The firm has worked in the equity release sector since 2007.

Clients utilise the Phoebus ecosystem consisting of APIs that transfer customer data between Phoebus servicing and internal and third party systems.

Richard Pike (pictured), chief sales and marketing officer, said: “Phoebus has been at the heart of the equity release industry for many years.

“We continue to invest in our product to keep Phoebus at the forefront of innovation in in this important market sector so that our clients reap the rewards.

“In particular, the Phoebus migrations API has been a large factor in the success of our growth in the equity release sector as it provides a fast and accurate solution unavailable elsewhere in the market for clients who buy and sell books, or who act as outsourcers on behalf of equity release funders and require their loans to be serviced.”