Following a strong period of growth, Phoebus Software Limited (PSL) has increased its client’s lending and savings balances serviced on the Phoebus solution to over £40 billion.
PSL’s multi-currency system services a broad range of products for banks, lenders and third-party servicers. The company has invested a large amount in research and product development over many years, particularly since the last credit crisis.
PSL has focused on making primary and special servicing as automated as is possible using integrated workflow. This means PSL clients use the Phoebus system to automatically monitor payments, generate documentation and create work queues, thus freeing up client users to focus on cases by exception, therefore creating efficiencies and proving ROI.
Commenting on this milestone for the PSL business, Richard Pike, sales and marketing director of PSL says, “This is a real achievement for PSL and is testimony to the quality of the Phoebus product. The fact that we can efficiently service so many differing products, across retail and business lending and savings, really shows the product accurately does exactly what it needs to, as a market leading servicing system.
“With our vast experience of migrating portfolios in a transactional market, and the return of securitisation in the UK, managed for our clients by the Phoebus securitisation module, we are well positioned to continue this growth for the foreseeable future. As our existing clients continue to grow, we are still receiving regular interest in Phoebus from banks, lenders and servicers alike, and so the future looks very positive.”
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Phoebus Software Limited (PSL) was founded in 1989 and became fully independent in 1997. The Phoebus solution is a multi-channel, multi-product and multi-currency banking, lending and deposits solution. The solution features marketing leading functionality encompassing originations, primary and special servicing, general ledger, treasury and securitisation. The solution offers high automation to organisations through an integrated workflow solution.
Today, PSL has over 20 clients in the UK and now has £40bn in assets managed on the Phoebus solution.