Toronto, ON, Canada – September 5, 2012: Portfolio+ Inc. is pleased to announce the upcoming release of the GICSERV interface to Portfolio Plus.
Portfolio+ Inc. is scheduled to release the GICSERV interface to Portfolio Plus in two phases. Phase one of the GICSERV interface is slated for release on September 15, 2012. Phase one will include order functionality and confirmations. Phase two will consist of net settlement capabilities and is scheduled to be relased on October 30, 2012.
"It was a pleasure working with FundSERV and a few of our early adopter customers to bring this functionality forward", said G. Robert Leeming, President of Portfolio+ Inc. "We'll continue to work closely with them as the software is released to ensure we have the functionality and quality that the market needs."
"We’d like to thank Portfolio+ Inc. for their efforts and for their GICSERV working group participation to help build industry standards," said Brian Gore, President and CEO at FundSERV. "GICSERV functionality will help automate nominee name and client name platforms, net settlement messaging, and account position reconciliation. These efficiencies complement FundSERV's mission of reducing time, cost, and risk within the Canadian investment industry."
FundSERV is a business-to-business electronic network with world-class transactions processing applications, servicing the Canadian investment industry. Its mission is to reduce time, cost and risk from investment fund processing through automation.
Established in 1993, FundSERV is an online hub that electronically connects manufacturers, distributors and intermediaries, enabling them to buy, sell and transfer investment funds amongst each other. FundSERV services hundreds of organizations – representing approximately 30 million financial transactions annually– and provides online access to over 35,000 investment fund products.
FundSERV is a private, for-profit company that operates on a cost-recovery business model, meaning that FundSERV customers receive an annual rebate.
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.