GE Money and Phoebus celebrate 10 years

Robyn Hall

May 8, 2012

Currently in excess of £10bn of GEMHL loans are under management on a Phoebus system.

The consultancy provider’s software first went live assisting the servicing function on GEMHL’s mortgage book in March 2002.

The partnership was further strengthened in 2011 when all of GEMHL’s loans came under management on a Phoebus platform. The latest migration, which occurred in August last year, involved migrating some 200,000 live accounts, representing more than £1bn worth of assets and 800,000 archived accounts.

Paul Hunt, managing director of Phoebus Software said: “We’ve had a very successful 10 years of working with GE Money Home Lending ensuring the efficient running of its servicing operations. GEMHL has invested wisely in its systems over the past years to ensure a high-quality servicing function in years to come.

“By taking a proactive approach to the development and implementation of modern systems in a changing regulatory environment, we’ve helped GEMHL ensure it is prepared for servicing challenges ahead, as well as allowing GEMHL to manage the cost of servicing its loan portfolios. Building on this success to date, we look forward to another decade of this positive strategic partnership.”

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