Toronto, Ontario – November 2, 2009: Portfolio+ Inc. is pleased to announce that HomEquity Bank has gone live with Portfolio Plus 2010.
"The implementation of Portfolio Plus at HomEquity Bank was carried off without a hitch", said G. Robert Leeming, President of Portfolio+ Inc., "and we look forward to helping them succeed in the broker deposit market".
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, enables financial organizations to add functionality as they require it, making it one of the most versatile solutions in the market.
HomEquity Bank, a Schedule I Canadian Bank, is a wholly-owned subsidiary of HOMEQ Corporation. HomEquity Bank is the only national provider of reverse mortgages to Canadian seniors and it offers Guaranteed Investment Certificates to Canadian investors.
HomEquity Bank originates and administers Canada's largest portfolio of reverse mortgages under the CHIP Home Income Plan brand. HomEquity Bank's predecessor, Canadian Home Income Plan Corporation, has been the main underwriter of reverse mortgages in Canada since pioneering the concept in 1986.
The CHIP Home Income Plan is a solution to the financial needs of Canadians seniors (60 years +). It is a type of residential mortgage that permits qualifying homeowners to convert a portion of their home equity into cash on a tax-free basis while remaining in the home.
HomEquity Bank GICs
HomEquity Bank provides competitive Guaranteed Investment Certificates (GICs) to investors across Canada. These GICs are available through a network of independent deposit brokers.
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.