The lending industry software specialist will continue to offer its normal, full licence agreements. The first customer to take Phoebus on the rental basis has already been announced as Link Lending, formerly Woodberry Securities, a specialist lender in the bridging sector.
Link Lending’s managing director John Maclean said: “We have some dynamic growth plans for this business and these called for the extremely rapid implementation of a new system. We were attracted by the low entry level cost of the Phoebus rental option, with its ability to remove the need to commit ourselves at this stage to a full Phoebus licence.
“We had confidence in Phoebus’ ability to deliver, having looked at similar programmes they have completed for others – in essence they have been able to deliver a working system, with everyone trained, within a four week period. That was the sort of speed we wanted and the rental approach fitted naturally within that whole package.
"If and when the day dawns that the scale of operations means we could reap financial benefits from moving to a full Phoebus licence, we know we will be able to do this without any impact on our routine operations or our relationship with the Phoebus support system.”
Phoebus Software’s managing director Robert Lintonbon said: “Rental is a route into Phoebus products that helps lenders with start-up projects, divisional needs or development opportunities, as well as those who simply want a low impact introduction to the proven Phoebus benefits. Our ability to deliver the Phoebus system into clients such as Link Lending, within just four weeks, is a further indication of the way we are able to respond to individual, corporate needs within the lending industry.”
