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Phoebus hits £100bn assets milestone

  • 18/10/2023
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Phoebus hits £100bn assets milestone
Phoebus’ balances of loans and savings on its savings platform has grown a quarter year-on-year to £100bn assets under management.

The company was founded in 1989, initially as a banking platform, and now offers solutions to banking, building society and lending sectors. This includes originating or servicing deposits or mortgages.

Since 2011, the company said that balances have grown from around £5bn to around £100bn now, which it said was “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, said that it had a “broad range of clients by way of size, shape and products offered”, but it was that it was its “willingness” to offer “first-class service” to support growth, changing business models and in some instances, M&A activity which has been “critical to our growth”.

He noted: “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.”

Hunt added that another key focus was investment in API ecosystems, which ensured that the company could “seamlessly integrate with our clients’ broader requirements”.

He continued that a crucial API had been its migration and originations API and it “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”.

Hunt said that people were the “backbone of Phoebus success” and that 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.,” he concluded.

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