Toronto, Canada – December 11, 2006: Portfolio+ Inc. is pleased to announce that Community Trust, located in Toronto, Ontario, has selected Portfolio Plus to replace their current environment and address their future growth initiatives.
“Portfolio Plus has become the most popular banking platform choice for independent Canadian trust companies”, stated Lu Kozak, Chairman of Community Trust, “but this isn’t what drove our decision. It was important for us to conduct a thorough due diligence to make sure that both the software and the vendor would meet our needs. We are confident that Portfolio+ can satisfy these requirements and thus ensure a productive partnership. We especially liked the software’s flexibility and plug-in banking architecture which will allow us to add functionality to meet our future needs.”
Portfolio+ Inc. markets Portfolio Plus in Canada, the UK and Latin America. Portfolio Plus is a complete plug-in banking solution for trust companies, credit unions, banks, mortgage providers, and building societies.
“We want to congratulate Community Trust on their decision to move forward with the Portfolio Plus banking platform. We look forward to supporting their growth objectives every step of the way”, says G. Robert Leeming, CEO of SIT. “Our partnership underlines the commitment we have to community banking and trust company banking overall.”
Within the Canadian independent trust company market, SIT’s Portfolio Plus banking platform enjoys the highest market share of any banking software vendor.
Community Trust Company is a federally regulated Trust Company incorporated originally in Ontario in 1975 and now chartered federally. Community Trust Company is a full service financial institution with a business emphasis on mortgage lending. Community Trust’s mortgage portfolio as at December 31, 2005 was 234 million dollars, with investment assets in Ontario, Quebec, Alberta and British Columbia. The Company’s head office is located at 2271 Bloor Street West, Toronto, Ontario M6S 1P1.
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.