Stouffville, Canada – January 18, 2010: Portfolio+ Inc., a banking software company, is pleased to announce the beta availability of Canadian Securities Registration System (CSRS) interface for Portfolio Plus.
“In addition to a reduction of errors from re-keying, we estimate we’ll save between 50 and 60 person hours per month immediately, increasing over time with volume and potentially doubling when discharges take effect.”, says Gord Mooney, Chief Operating Officer of General Bank. “That’s a 100% productivity improvement over the old way of doing things.”
The Canadian Securities and Registration System, now owned by Davis + Henderson, allows the registration of liens against motor vehicles, snowmobiles, company assets, motor homes, inventory, mobile homes on leased lots, farm equipment and more. There are two basic categories for personal property liens: Collateral with Serial Numbers or General Collateral.
“Our mission statement is ‘to enhance the performance of our business partners’ and we look for every opportunity to do that,” says G. Robert Leeming, President of Portfolio+ Inc. “Our newly announced CSRS interface can help financial institutions enhance their performance by dramatically reducing the costs associated with managing car loans.”
Portfolio Plus enables banks, trust companies, virtual banks, credit unions, and other financial organizations to implement their own flavour of banking to capture the best possible market advantage. Portfolio Plus, with its Plug-In BankingTM architecture, enables financial organizations to add functionality as they require it, making it one of the most versatile solutions in the market.
Located in Edmonton, Alberta, General Bank of Canada is owned by Firstcan Management Inc, a privately held company with diverse interests related to the automotive industry. The incorporation of a bank further expands the financial services of the group which currently includes a regulated life and disability insurance provider, First Canadian Insurance Corporation, and a property and casualty company, Millennium Insurance Corporation. General Bank of Canada was the first private company in Canada to be issued a banking charter.
Portfolio+ Inc. connects financial institutions with customers and partners using innovative technologies. Its software solutions and open banking technology are used by financial institutions in Canada, Ireland, and the UK. With its powerful +Open Banking Platform and fully documented APIs, Portfolio+ has the power to connect banks, credit unions, and financial institutions with an evolving ecosystem of financial services technology that is putting everyday customers in control of their financial data.
Located in the Greater Toronto Area (GTA), Portfolio+ is used by 6 of the 7 largest financial institutions in Canada and is a part of Volaris Group Inc.