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

The financial software firm has worked in the later life sector since 2007 and services over £20bn of equity across the UK.

It also joins the trade body’s technology forum, where members share best practice.

The software business has recently invested in digitising key services such as drawdowns and further advances.

Equity Release Council chief executive Jim Boyd says: “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.”

Phoebus Software chief sales and marketing officer Richard Pike adds: “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.”