Phoebus Software has joined the Equity Release Council (ERC) as an associate member.

As part of its membership, the ERC has invited the firm to join its technology forum, where Phoebus can share knowledge and work with members.

Phoebus has worked in the equity release sector since 2007, and its software services over £20bn of UK equity across a number of UK brands.

The ERC said that this membership now not only "cements Phoebus’s reputation" in this sector, but positions the organisation to better share its years of insights with the wider Council membership.

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

Chief sales and marketing officer at Phoebus, Richard Pike, 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."

Chief executive officer at the ERC, Jim Boyd, 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."

---