Toronto, Canada – Feb 28, 2012: Portfolio+ Inc. is pleased to announce that both General Bank of Canada and MonCana Bank of Canada have begun using Portfolio Plus to process "client name" GIC applications using the CANNEX Financial Network.
"Anybody who processes client name GICs should consider automating through the CANNEX Financial Network as their GIC and term deposit volume grows," said Gord Mooney, Chief Operating Officer for General Bank of Canada. "Portfolio Plus makes this easy for us to do."
"Developing a good volume of client name GIC business was a decision we made based on the professional relationship we've built with brokers over the past few years," said Gerry Wagner, CFO of MonCana Bank of Canada. "Automating the purchase and sale of client name GICs through the CANNEX Financial Network allows us to process these GICs faster and with more accuracy."
"We've worked with Portfolio+ Inc. for over a decade to lower the cost of processing both nominee name and now client name GIC business," said Alex Melvin, President of CANNEX. "We're pleased to see more issuers using the client name automation functionality available on Portfolio Plus."
"Portfolio+ Inc. is focused on helping our customers enhance their performance. Our strategic decision, over a decade ago, to commit to automation through the CANNEX Financial Network has paid off handsomely for both us and our customers," said G. Robert Leeming.
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 on the market.
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.