Toronto, ON, Canada – February 14, 2012: Portfolio+ Inc. is pleased to announce that it is commencing its development of a GICSERV interface to its Portfolio Plus banking software platform.
"We’ve been working with FundSERV for the past three years to help develop specifications and to build industry support," said G. Robert Leeming, President of Portfolio+ Inc. "I’m pleased to say that both RBC and ResMor Trust have committed to add GICSERV functionality to their existing Portfolio Plus banking software and that the specifications are mature enough to commence development. We expect to provide beta availability to select customers by late August 2012."
"We’d like to thank Portfolio+ Inc. for its commitment to GICSERV and for their 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.