Toronto, Canada – October 31, 2005: Portfolio+ Inc. is pleased to announce that MCAP Inc., located in Toronto, Ontario, has chosen Portfolio Plus to help increase the functionality of its term deposit business.
"When we did our technical and marketing due diligence on term deposit software we discovered that Portfolio Plus had superior flexibility and control as well as a proven reputation in the marketplace." said Derek Sutherland, Treasurer of MCAP Inc. "With Portfolio Plus I can make changes to my product offering to serve our depositors better without having to involve a software supplier. This power will add functionality to our term deposit business and allow MCAP Inc. to meet our strategic goals.”
Portfolio+ Inc. is a leader in the Canadian term deposit and debenture market with the proven capability of Portfolio Plus. In addition to term deposits, Portfolio Plus offers plug-in modules for retail banking, investment management, loans, mortgages, web banking, data mining, and XML integration with legacy systems.
“MCAP Inc. is an opportunistic mortgage investment corporation and we’re pleased to see them using Portfolio Plus to increase their funding base.” said G. Robert Leeming, president of Portfolio+ Inc. “We believe MCAP Inc. can further increase their presence in the Canadian market by using Portfolio Plus and we look forward to helping them achieve that goal.”
MCAP Inc. is a loan company regulated by the Office of the Superintendent of Financial Institutions and qualifies as a mortgage investment corporation under the Income Tax Act (Canada). MCAP Inc. is a public company whose shares are listed on the Toronto Stock Exchange (TSX: MKP). The term deposits that MCAP Inc. raises are insured by the Canada Deposit Insurance Corporation.
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.