Phoebus Software joins Equity Release Council

By Bridging Loan Directory 12th September 2024

Phoebus Software has joined the Equity Release Council (The Council) as an Associate Member.

As part of its membership, the Council has invited Phoebus to join the Council’s Technology Forum, where Phoebus can share knowledge and work with members to push the industry forward.

Phoebus has worked in the equity release sector since 2007. Phoebus’ software services over £20 billion of UK equity across some of the UK’s leading brands.

Membership of the ERC not only cements Phoebus’s reputation as one of the most credible account-servicing providers to this key market sector but positions the organisation to better share its decades of insights with the wider Council membership.

Phoebus’ recent investment in digitising servicing includes important areas such as drawdowns and further advances which have been a major problem area for many lenders over the years.

Automation of processes frees operational users to concentrate on cases that require personal attention. This maximises operational efficiency across portfolios of varying size and complexity, creating tangible returns on investment for Phoebus’ clients.

Equity release clients also benefit from Phoebus’ API ecosystem which includes APIs to customer portals and originations platforms providing a truly seamless end-to-end customer journey.

The Phoebus migration API allows clients who purchase assets to onboard books in a highly automated fashion.

Using this unique technology, some clients handle migrations with no additional support from Phoebus resources, creating a significant cost-saving from other providers who have no migration capability – manual or otherwise.

Richard Pike, chief sales and marketing officer at Phoebus said:

“Equity release has been a real focus for our business for many years.

Our significant investment in digitising loan servicing, including equity release, alongside other residential and commercial lending products is a true reflection of this.

We believe we will add value to the ERC and its membership and are delighted to have become members of this increasingly important and significant trade association”.

Jim Boyd, CEO of the Equity Release Council, added:

“As the market starts to return to growth, there is no doubt that our members will be considering how technology can support their ambitions and help them to deliver first-class customer service.

We are therefore delighted to welcome a well-recognised and respected brand like Phoebus into membership.

By becoming a member and joining our technology forum, Phoebus has positioned itself to take an active part in this conversation and help the industry to collectively deliver better customer outcomes.”