Toronto, ON, Canada – October 29, 2012: Portfolio+ Inc. is pleased to announce the upcoming release of Portfolio Plus Surveillant AML/ATF – an expert system that can help detect fraud, money laundering, and potential terrorism activities.
"Our customers, and the regulatory agencies that govern them, are becoming ever more sensitive to fraud, money laundering, and potential terrorist activities," said G. Robert Leeming, President of Portfolio+ Inc., "so we created a solution that allows our customers to satisfy the reporting requirements for regulatory agencies while also enabling them to track, audit, and be alerted to any events deemed to be suspicious. We believe the efficiencies of a purpose-built expert system will be apparent to any prospective user."
Portfolio Plus Surveillant AML/ATF enables each financial institution to implement their own risk weightings for various attributes of customers, businesses, and transactions. These risk weightings can include geography, business type, product types, transaction attributes, and more. The financial institution can then choose to review or automate the reporting the reporting to FINTRAC of any suspicious transactions based on this criteria.
In 2011, Portfolio+ Inc. embarked on the development of several Portfolio Plus Expert systems to help financial institutions automate large scale processes. Portfolio Plus Surveillant is one of a number of these expert systems which includes Portfolio Plus Collector, to automate collections, Portfolio Plus Originator, to automate loan originations, and Portfolio Plus Forecaster, to predict the cash flow of assets and liabilities, and Portfolio Plus Regulator, improve regulatory reporting productivity.
Since 1988 Portfolio Plus has enabled 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+ 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.