Toronto, ON, Canada – February 14, 2012: Strategic Information Technology Ltd. ("SIT") 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 SIT. "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 SIT for their 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.
SIT, formed in 1988, develops and markets Portfolio Plus which is used by customers like RBC, CIBC, TD, ING Bank of Canada, PC Bank, Canadian Tire, and Manulife. Portfolio Plus offers a unique Plug-In BankingTM architecture and a Financial Services BusTM that extends Portfolio Plus functionality to other corporate applications. SIT's banking software enables credit unions, banks, trust companies and building societies to offer web banking, loans, loan securitization, investments, term deposits, wealth management, retail, ATM/POS switch interfaces for debit cards, leasing, and credit bureau interfaces. Portfolio Plus can also be tailored, on request, to meet specific customer requirements.
SIT can be reached at (http://www.stratinfotech.com) or by phone at 905-640-0808.
Portfolio Plus, Plug-In Banking and Financial Services Bus are trademarks or registered trademarks of SIT in the U.S., Canada and other countries. Any other trademarks or service marks contained herein are the property of their respective owners.
For more information:
Strategic Information Technology
Telephone: 905-640-0808 x452
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This page was created or refreshed on March 29, 2019 @ 14:11:03
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
You're here to learn about: SIT Commits to GICSERV