Toronto, Canada – January 7, 2008: Portfolio+ Inc. is pleased to announce that Canadian Tire Financial Services will be driving its term deposit growth with Portfolio Plus banking software.
“Canadian Tire is a phenomenal success story in Canada,” said G. Robert Leeming, President of Portfolio+ Inc., “and we are honoured to be a business partner that can help them further expand their financial services offerings.”
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, allows financial organizations to add functionality as they require it, making it one of the most versatile solutions in the market.
Canadian Tire Financial Services began in 1961 as a small financial service company offering third-party credit processing for local retailers. Over the next two decades Canadian Tire Financial Services provided support in the form of credit-processing facilities for the expanding, nation-wide network of Canadian Tire stores.
In 1995, Canadian Tire Financial Services became the first non-deposit taking, financial institution worldwide to launch a MasterCardTM called the Options MasterCardTM.
In 2003, Canadian Tire Bank was established. A wholly owned subsidiary of
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.
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by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
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