Hampshire Trust Bank (HTB) has migrated all of its customers’ savings and deposit accounts onto Phoebus’ software.
It believes the move will increase efficiency and streamline the bank’s businesses processes.
This follows the establishment of HTB’s asset finance and property development finance books on the bespoke loan and savings management system in June.
Earlier this year HTB signed a five year contract with Phoebus Software Limited (PSL) to both originate and service its entire asset finance, property development finance and deposits. In addition, it will also use Phoebus Software’s general ledger module.
The savings and deposit accounts are now integrated into one banking system which also supports the asset finance and development finance loan portfolios.
Richard Pike, Phoebus Software Limited’s sales and marketing director, said: “The acquisition of Hampshire Trust Bank by Alchemy Special Opportunities Fund II LP back in May this year provided the organisation with the opportunity to review what systems it needed for the future in order to offer a streamlined and efficient process that will help to set them way above the competition.
“The Phoebus solution was found to be the answer, providing the Bank with originations, servicing and collections across multiple product streams.”
Mark Sismey-Durrant, CEO of Hampshire Trust Bank, added: “The proven functionality of the Phoebus solution compared to other suppliers was a key factor in our decision making process. Choosing Phoebus has proven to be justified given the very successful migrations that we have undertaken, and the resulting efficiencies.
“We find PSL to be very pragmatic in their approach and this makes them easy to work with. We look forward to a long and beneficial relationship with PSL.”
