Phoebus hits 25% portfolio growth as assets under management reach £120 billion

12 February 2025

Phoebus Software Ltd, the market’s leading mortgages and savings account servicing technology provider, now has clients servicing more than £120bn of varying types of loan and savings assets on its platform. This follows over 25% growth in the specialist lending assets serviced on the platform in 2024, including equity release.

This achievement is testimony to millions of pounds of investment in its latest digital servicing technology that provides ‘out of the box’ functionality across retail and commercial lending, and deposits products. Phoebus has and continues to invest heavily in its API ecosystem that allows integration with all originations platforms in the market. It also seamlessly integrates with many other client applications such as self-serve portals, mobile apps, finance systems and client data warehouses required by clients to run their businesses.

Phoebus’ client base consists of specialist lenders and banks, equity release lenders, building societies and business process outsourcers, with many clients actively originating in the market and utilising the originations API to onboard completions onto Phoebus for account servicing.

Phoebus also supports many clients directly on migrations, with no need for third party support or tooling. This capability has enabled multiple migrations to be managed in 2024, the most significant being a migration of more than 200,000 accounts, on time and on budget.

Commenting on the £120 billion milestone, Adam Oldfield, newly-appointed chief executive officer at Phoebus says,

“These figures are representative of our position in the market as the servicing supplier of choice. We’ve been working in the financial services industry since 1989 and this maturity, coupled with our latest state-of-the-art digital offerings, means clients on both side of the balance sheet can benefit from our vast experience and the best technology available in the market today. With a number of future announcements to come, we are expecting a very strong performance moving into 2025 and beyond”.