Phoebus tops £100 billion assets milestone

19 October 2023

The balances of loans and savings on the Phoebus servicing platform has increased by 25% in just one year from £80 billion to over £100 billion assets under management.

Phoebus has been servicing accounts since 1989 on behalf of third-party administrators, lenders, specialist banks and building societies across a range of consumer and commercial products in the UK and Europe.

Since 2011, balances on the solution have increased from circa £5 billion to today’s milestone level of £100 billion. This is testament to the support provided not only to Phoebus clients own growth aspirations, but continuing to enhance the offering to new entrants to market and new clients alike.

Paul Hunt, CEO of Phoebus, explained: “We have a broad range of clients by way of size, shape and products offered. But our willingness to provide them all with a first-class service, support their own growth aspirations, changing business models, and in some cases M&A activity have been critical to our growth.

“Our investment in the Phoebus solutions has been significant, in fact into millions of pounds, giving us what is recognised today as the market’s leading account servicing solution.

“Another key focus for us over recent years has been investment in our API ecosystem. Ensuring Phoebus can seamlessly integrate with our clients’ broader requirements has been vital. Amongst these APIs is our mission critical and award-winning Phoebus migration and originations API.

“This API allows clients of all sizes to use whatever originations platforms they wish to create their customer and broker experience at the front end; and then seamlessly move the cases to Phoebus for ongoing servicing.

“But it’s not just about great technology, investment and sales, it’s also about our people who are the backbone of Phoebus success. They create strong relationships with our clients, providing them with confidence to stay with us as they grow and or migrate more portfolios onto the Phoebus platform.

“we are hugely proud of what we have achieved and 2023 is looking like being another year of significant growth. We will continue to differentiate ourselves through a transparent and pragmatic relationship with existing and new clients, as well as our strategic partners.

“This transparency coupled with our proven delivery track record will continue to be a key focus as we seek to continue in our evolution and growth moving forward.”