The process involved migrating over 200,000 live accounts (including 150,000 open accounts and 50,000 closed accounts) representing over £1bn worth of assets. 800,000 archived accounts were also migrated to the new system.
The actual migration took place over the course of a single weekend with the system back live on Tuesday morning.
Paul Hunt, managing director of Phoebus Software said:
“GE Home Lending has always had excellent customer service, but now they are operating with one centralised database of loans, accessible from one system, it should improve yet further.
"The consolidated mortgage accounts also give GE a centralised one-customer view of multiple lending accounts. As part of the upgrade, GE will also need much less IT support.
"Maintenance costs will fall now they need to run one new system, rather than two old ones. And the amount of automation that this system is capable of - including cash allocation, ATP and use of an integrated workflow engine – will deliver further savings.”
Ian Ferguson, Chief Operating Officer of GE Home Money said:
“This project has been a massive success and GE is extremely happy with the performance of the Phoebus team and the software they have delivered.
"The technology allows us to streamline our internal processes even further and their delivery of the integrated Phoebus Deeds Management module will reduce query time and manual work required for Deeds queries.
"And the seamless system change over meant there was no impact on our borrowers and they retain the same customer numbers and direct debits.”
