Toronto, ON, Canada – September 18, 2009: Portfolio+ Inc. is pleased to announce that Xceed Mortgage Corporation has chosen the Portfolio Plus banking software platform for use in raising deposits if and when Xceed becomes a federally regulated financial institution.
“When we looked for a banking software system that could manage term deposits we were referred to Portfolio+ by a number of our peers,” said Ivan Wahl, Chairman and Chief Executive Officer of Xceed. “Becoming a deposit-taking institution will provide Xceed with another means of raising capital that we can use to help Canadians obtain and renew mortgages at a reasonable cost.”
The Portfolio Plus banking software platform enables banks, trust companies, 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, allowing for maximum strategic flexibility.
“Xceed’s success in the Canadian market is renowned and we are honoured they have chosen us to be a strategic partner,” said G. Robert Leeming, President of Portfolio+ Inc. “Xceed’s reputation for innovation is something we’re proud to be associated with.”
Xceed Mortgage Corporation, based in Toronto, is a Canadian provider of insured residential mortgages that it originates in Canada. The company has approximately $2.1 billion in mortgages and other assets under administration. Xceed’s shares are traded on the Toronto Stock Exchange (TSX: XMC). To find out more about Xceed Mortgage Corporation, visit www.xceedmortgage.com.
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.