Toronto, ON, Canada – April 29, 2010: Portfolio+ Inc. is pleased to announce that Your Neighbourhood Credit Union has completed "Chip Readiness Testing" with Everlink and CUETS.
"I want to congratulate Everlink, CUETS, Your Neighbourhood Credit Union and the team at Portfolio+ Inc. for implementing this new technology on time and on budget", said G. Robert Leeming, President of Portfolio+ Inc. “This success is another example of the power of partnership in our business. Many companies have great technology, but it's people working in partnership that ultimately determine how successful a project is.”
Using Everlink's EMV (Europay, MasterCard, and VISA) Translator, Your Neighbourhood Credit Union has completed "Chip Readiness Testing" with Everlink that includes testing of a Card Authorization File update, (both full update and partial update), From Host Maintenance (FHM) updates, and financial transactions from both Automatic Teller Machines (ATM) and Point of Sale (POS).
CUETS testing included card order records, PIN distribution testing, PIN change at CUETS Enhanced Branch Services (CEBS) devices, MasterCard simulator testing, a Member CardTM being used at a non-Canadian merchant and a non-Canadian ATM, and authorization (or rejection) by the Portfolio Plus banking software system.
The Portfolio Plus banking software platform enables credit unions, and other financial organizations, to implement their own flavour of banking to capture market advantage. Portfolio Plus, with its Plug-In BankingTM architecture, allows financial organizations to add functionality as they require it, allowing for maximum strategic flexibility.
Your Neighbourhood Credit Union, as it is today, was formed from the merger of Grand River Credit Union and Your Neighbourhood Credit Union on October 1, 2007. YNCU currently serves approximately 24,000 Members, and operates nine branches in Kitchener-Waterloo, Cambridge, Brantford, Paris, Windsor and LaSalle, with $393 million in assets under administration.
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.