| Peer to Peer Lending and Banking in Canada

CommunityLend takes Another Step Forward for Peer-to-Peer Lending & Banking in Canada

Canadian Peer-to-Peer Lending & Banking Closer Than Ever

Toronto, ON, Canada – September 15, 2009: Portfolio+ Inc. is pleased to announce that CommunityLend has taken another step forward towards opening the doors to operate a peer-to-peer lending business in Canada and has now been registered as a "limited market dealer" in Ontario.

“We’ve admired CommunityLend’s efforts to pioneer a new financial services market in Canada and we’ll be there to support their launch and subsequent growth”, said G. Robert Leeming, President of Portfolio+ Inc.

CommunityLend’s peer to peer banking platform is powered by a unique combination of open source technologies and the Portfolio Plus banking software platform. The Open Banking Interface is the messaging conduit between the open source technologies and Portfolio Plus.

About CommunityLend

CommunityLend is a unique social lending service launching in Canada in 2009. CommunityLend will join the social-banking revolution currently underway around the world which Javelin Research predicts will be “a game changing development in financial services interactions.”

More regulatory information about CommunityLend can be found on the Ontario Securities Commission website.

About Portfolio+ Inc.

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.

 

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by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
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