The deal follows the latest migration of a new £800m book onto the Phoebus solution using the latest Phoebus migrations and originations application programming interface (API).
Simon Hayton, chief operating officer at Pure Retirement, said: “The Phoebus team has been exceptional during the migration project, from the success of the API to supporting with data validation and reconciliation of balances, to last minute data fixes. It’s a massive testament to its people and ethos.”
Phoebus Software’s sales and marketing director, Richard Pike (pictured), noted the Phoebus team had worked in the equity release market since 2007 and added: “We are hugely proud to have assisted in the launch of such a great business in 2014 and look forward to continued success for both parties through the relationship over the coming years.”
Andrew Thirkill, chairman of Pure Retirement, said: “In 2014 we launched with Phoebus because of its proven track record in equity release originations and servicing solutions, which we believe still to be second to none. We did look at other providers as part of the renewal process, and by far Phoebus came out on top in terms of functionality and commercially.”