Toronto, ON, Canada – February 6, 2013: Strategic Information Technology Ltd. ("SIT") is pleased to announce the availability of a GICSERV interface to its Portfolio Plus banking software platform.
"The great support provided by FundSERV, along with our mutual desire to drive further efficiencies in electronic GIC processing, have enabled SIT to be the first software vendor to provide the GICSERV interface," said G. Robert Leeming, President of SIT. "We will continue to work with FundSERV to support the GICSERV standard going forward."
"We'd like to congratulate SIT on their commitment to the GICSERV service and to our mutual customers. We view this as a significant opportunity for the brokered deposit industry as they now have the option to choose an alternative solution for GIC automation", said Robert Smuk, President and CEO of FundSERV. "For nearly 20 years, FundSERV has excelled at offering a reliable network utilizing industry developed standards to focus on reducing time, cost and risk for the Canadian investment industry. We are confident that GICSERV will bring similar efficiencies to the Canadian brokered guaranteed investment 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.
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.
FundSERV is a business-to-business electronic network with world-class transactions processing applications, servicing the Canadian investment industry. Established in 1993, FundSERV is an online hub that electronically connects manufacturers, distributors and intermediaries by facilitating their various transaction and settlement activities. FundSERV services over 500 organizations – representing approximately 32 million financial transactions and $70 billion in net settlements annually– and provides online access to over 35,000 investment fund products.
FundSERV is a private company that operates on a cost-recovery business model, meaning that FundSERV customers may receive an annual rebate. For more information on GICSERV, please go to www.gicserv.com or contact Customer Relations at 416-350-8310.
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 October 26, 2018 @ 15:07:57
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
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