TORONTO, March 11, 2025 /CNW/ – Portfolio+, a leader in Canadian banking technology, today announced that Habib Canadian Bank has selected the company’s automated term deposit solution to launch nominee-name guaranteed investment certificates (GICs) through a network of deposit brokers, reaching Canadians nationwide. The technology will streamline deposit sales and processing, help meet the growing demand for GICs in Canada, and unlock access to capital to support the expansion of the bank’s lending business.

Leveraging seamless integration with the industry’s leading GIC exchange network, Portfolio+ offers Habib Canadian Bank robust broker management features and a wide range of deposit options to meet the diverse needs of Canadians. By automating and streamlining GIC sales, the solution minimizes manual administration and ensures financial institutions have complete control over pricing, terms, and funding levels.

“Portfolio+ will provide the technology and integration capabilities we need to quickly grow our GIC and term deposit business across Canada,” said Hasan Naqvi, Chief Financial Officer at Habib Canadian Bank. “This partnership will allow us to expand beyond our current market, ensuring we can offer greater access to the services and financial solutions Canadians deserve.”

“Our partnership with Habib Canadian Bank highlights the power of leveraging our deposit solutions to scale quickly and efficiently,” said Dianne Cupples, CEO of Portfolio+. “We are proud to support their expansion across Canada, bringing more savings, investment, and borrowing opportunities to Canadians.”

With Portfolio+ term deposit technology, financial institutions can:

• Automate GICs and Term Deposit Sales:

  Streamlines term deposit processing and administration by automating the sales process for nominee-name GICs.

• Expand Market Reach: 

  Enables financial institutions to quickly expand market reach, providing the ability to scale deposit sales with flexible rate controls.

• Strengthen Broker Relationships:

  Enhances broker management with flexible rate, incentivization, and commission options.

Portfolio+ is trusted by some of the biggest and best banks in Canada. Leveraging core banking technology, cloud deployment services, and powerful integration capabilities, Portfolio+ helps financial institutions deliver financial products and services designed with Canadians in mind.

About Habib Canadian Bank

Habib Canadian Bank was established in 2001 and is a subsidiary of Habib Bank AG Zurich—established in Switzerland in 1967 and has grown into a global institution with a presence in 11 countries spanning across four continents. Over the past six decades, HBZ has expanded internationally, combining modern technology with timeless values.

Built on the foundation of trust, integrity, and innovation, Habib Canadian Bank offers a comprehensive spectrum of products and services designed to cater to customers diverse banking needs.

Located in Brampton, Mississauga and Scarborough.

About Portfolio+ Inc.

Portfolio+ banking systems and technologies connect financial institutions with fintechs and industry partners, providing a trusted platform for Canadian banking. Its powerful cloud-based core banking system and RESTful API are used by the country’s best banks, offering a flexible foundation for some of the industry’s most innovative banking and Banking-as-a-Service solutions. Designed in Canada, Portfolio+ solutions are thoughtfully developed to support the evolving ecosystem of financial services technology, and the company remains focused on enabling the financial marketplace with solutions that impact Canadians every day.

Portfolio+ is used by 5 of the 6* largest financial institutions in Canada, as well as Forbes’ best banks.

Located in the Greater Toronto Area (GTA), Portfolio+ Inc. is a part of Vencora.

For more information, contact us.

Read the original PR.

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Portfolio+ Inc. (Portfolio+), a leading Canadian provider of financial services systems and technologies, is pleased to announce the next major release of Portfolio+ will be available on March 17, 2025. Crafted with both API-based banking and cloud technologies in mind, Portfolio+ 19.0 is packed with over 200 targeted improvements, including over 30 new updates and enhancements specifically designed to drive efficiencies and streamline operations, enhance data accuracy and risk mitigation, and improve reporting for clearer insights and more informed decision-making.

With targeted enhancements throughout Portfolio+’s core banking subsystems, the Portfolio+ banking platform continues to evolve and adapt with the changing financial services industry, bringing next-generation technologies, market-driven financial products, and trusted regulatory solutions to Canada’s best banks and financial institutions.

Log in to Advantage and visit the notifications page to download the release notes for Portfolio+ 19.0 today!

Call Now!

What’s New in the Major Release?

System administration configuration enhancements provide improved data consistency and greater control over managing mortgage insurance premium (MIP) tax rates, creditor insurance, and regulatory categories. With greater control, financial institutions can streamline more day-to-day operations, reduce non-compliance risks, and focus on growth.

Accounting & agent management subsystem automations and streamlined processes improve month-end closing, agent commission tracking, and term deposit searches. This accelerates reporting, provides better tracking and clearer financial insights, and improves portfolio management.

Client management & integrated processing updates simplify client searches, credit bureau uploads, and pre-authorized credit (PAC) administration. Easier credit bureau uploads and PAC administration help ensure regulatory compliance, while streamlined client searches improve operational efficiency and customer experience.

Lending subsystem features improve underwriting and data accuracy by offering a blended rate calculator for refinancing, a hypothetical underwriter for better cross-selling opportunities, and additional loan renewal options and partial loan payments. These updates boost cross-selling potential, offer more flexible loan options, and make it easier for Canadians to access the funds they need.

Investment & syndication subsystem updates include enhanced reporting with an investment cash account transaction details report and partner cash account reconciliation to track partner loan payments in cash accounts. These reports empower financial institutions to maintain accurate financial records, optimize cash flow management, and strengthen partnerships through reliable and efficient account tracking.

Term deposit and guaranteed investment certificate (GIC) subsystem improvements include one-click access to GIC transfer and registration histories, along with an enhanced user experience for GIC partial redemptions. These updates simplify portfolio management and provide more efficient access to critical account information, ultimately helping clients optimize their investment strategies for a better financial future.

The upcoming products, features, and enhancements are all designed to improve business processes and overall user experience. Portfolio+ encourages customers to use the latest release notes as a guide to prepare for regression and user acceptance testing.

Customer feedback is invaluable as we focus on enabling the financial marketplace with solutions that impact Canadians every day.

For more information on Portfolio+, including its API capabilities, cloud-based banking solutions, or its core banking system, contact us today!

Call Now!

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Banking technology is complex. Many of the largest banks and financial institutions in North America operate on a unique collection of financial applications, legacy systems, powerful programming languages, and modern digital platforms—all carefully integrated over decades of investment in core infrastructure. Apart from retail banking software and term deposit software, it’s arguably one of the most critical elements of a core banking system: investment management software.

Investment management software is a core banking technology subsystem designed to help banks, financial institutions, investment firms, and credit unions manage and oversee investment portfolios. This software streamlines various investment-related processes, from investment planning and trading to analysis and reporting, providing a comprehensive solution for managing financial assets from stocks, ETFs, bonds, and mutual funds to tax-sheltered investment plans.

Users can use the platform to open accounts, administer plans, buy and sell securities and financial assets, track performance, manage risk, and handle compliance. The software is particularly useful in automating routine tasks, providing real-time insights and access to financial markets, and helping organizations meet regulatory standards—all critical in an industry where access, performance, and data accuracy are essential.

In this blog post, we’ll summarize why banks need investment management software, explore how these systems work, and discuss the different types of investment accounts they support. We’ll also highlight the essential features of investment management software and explain the differences between non-registered and registered investment accounts. Finally, we’ll look ahead to the future, touching on the importance of application programming interfaces (APIs) and exploring how emerging technologies like artificial intelligence may shape the next generation of investment management solutions.

Why Do Banks Need Investment Management Software?

People turn to banks and financial institutions for many reasons, but at the heart of it all is one simple idea: A financial institution is the safest place to put your money. Whether clients are building up their savings, buying a home, or planning their financial goals, banks and credit unions are often the first stop. Beyond being safe, these trusted institutions provide opportunities with access to financial assets, investment options, and expert advice—all of which can help grow a client’s wealth. However, with thousands of clients and countless portfolios to manage, financial institutions must rely on technology to efficiently oversee these investments at scale.

This is why banks need investment management software. By centralizing critical investment management tasks, an investment management system offers a streamlined platform for banks and financial institutions to manage portfolios with precision and efficiency. From onboarding new clients, setting up portfolios to tracking transactions, reconciling accounts, and monitoring investment performance, this software helps institutions ensure that investments align with their clients’ short- and long-term financial goals.

With automated compliance reporting, risk analysis, and trading, investment management software also helps institutions reduce errors, eliminate redundancies, and make smarter, faster decisions. With these simple automations, financial professionals can focus on higher-value work and the things that really matter—like providing unique advice, building strategic investment plans, and nurturing customer relationships through personalized financial services.

Ultimately, investment management software doesn’t just keep financial institutions organized—it empowers them to deliver more effective, efficient, and personalized services, making it a key component of modern core banking infrastructure.

How Does Investment Management Software Work?

Investment management software generally acts as a central hub for managing all the tasks involved in overseeing client investment portfolios, bringing together data, automating workflows, and offering tools that allow banks and financial institutions to manage investments smoothly and accurately. But not all software is created equally.

Depending on the system, investment management software can be a specialized subsystem within a core banking application, a fully standalone application, or a point solution with limited investment book of record (IBOR) functionality that integrates with pre-existing systems and external third-party applications through an application programming interface (API). Apart from modern APIs, these systems may also use other technologies for integration, like file-based transfers where data is exchanged through batch file uploads and downloads using Secure File Transfer Protocol (SFTP). Despite their differences, these systems ultimately perform many of the same tasks, consolidating data, automating operations, and providing real-time insights that enable banks to efficiently manage portfolios and investments for a wide range of client needs. They help streamline complex investment operations, while meeting both client needs and regulatory requirements.

So, how exactly does investment management software work? The software walks banks and financial institutions through a process that makes it easy to onboard clients, set up investment portfolios, execute trades and orders (stocks, ETFs, mutual funds, bonds, etc.), monitor portfolio performance, and rebalance portfolios based on asset allocation.

Let’s explore the workflow process in a little more detail.

Here’s how investment management software typically works:

1. Client Onboarding: The process starts with bringing a new client onboard. Investment management software allows banks to create new customer profiles, providing an integrated workflow that ensures the proper information is collected. This ensures legal and compliance checks like know your customer (KYC) and anti-money laundering (AML) are completed. Information about the client’s financial goals, risk tolerance, and investment preferences is captured at this stage.
2. Data Integration and Portfolio Setup: Once the client is onboarded, the software integrates data from multiple sources. Client profiles, account details, and pre-existing data provide a comprehensive view of the client’s investment needs and financial goals. From here, financial advisors can begin to set up client investment accounts, plans, and products. They can build personalized portfolios, aligning asset allocations with the client’s needs, ensuring that investments reflect their financial objectives and risk tolerance.
3. Trading and Management: As financial advisors work with their clients to make investment decisions, the software automates the execution of trades, ensuring that they are completed accurately and efficiently. Trades are processed with minimal manual intervention, reducing the chances of errors and delays.
4. Portfolio Monitoring and Rebalancing: The software continuously monitors portfolio performance in real-time, tracking changes in the market and comparing them to the client’s investment strategy. If performance deviates from predefined targets, the system triggers rebalancing recommendations or sometimes automatic adjustments to keep the portfolio aligned with the client’s goals. Automated rebalancing can help protect clients from excessive risk, especially during market fluctuations.
5. Compliance and Risk Management: Throughout the lifecycle of client portfolios, investment management software helps ensure financial institutions remain in compliance with relevant regulations established by regulators, such as the Office of the Superintendent of Financial Institutions (OSFI) and provincial securities commissions. The software automates critical compliance reporting tasks, minimizing manual errors, maintaining a comprehensive audit trail for compliance verification, and adhering to regulatory mandates.
6. Reporting and Insights: In addition to regulatory reports, over time the software provides both clients and financial institutions with transparent, real-time or periodic reports. These reports give insights into portfolio and investment performance, market trends, and compare client portfolio growth with market indices, helping financial advisors offer informed guidance to ensure their clients stay updated on their investments.
7. Advisory Services: The software’s reporting capabilities can also provide data-driven insights help provide personalized advice. Whether it’s suggesting adjustments based on market conditions or financial goals, the investment system supports advisory services by giving banks the tools and information they need to deliver better services.

In summary, investment management software works by automating and streamlining key tasks in a logical, step-by-step process—from onboarding clients and setting up portfolios to monitoring, rebalancing, and ensuring compliance. This workflow helps financial institutions operate more efficiently and make more informed decisions, ultimately improving the client experience by optimizing portfolio performance and creating tailored investment portfolios.

Different Types of Investment Accounts: Non-Registered vs. Registered

We’ve explored how investment management systems work, but understanding the types of accounts these systems support is just as important. Investment management software is designed to manage both registered and non-registered accounts, each of which includes various types of investment accounts suited to different financial needs. Let’s break down these categories and highlight some of the key account types that can be managed on these systems.

What Are Registered Accounts?

Registered accounts are investment accounts that are registered with the Canadian government and offer specific tax advantages and incentives. Also called tax-sheltered accounts, these accounts are popular for long-term investing, especially for retirement, as they provide tax-deferred or tax-free growth.

Here are the main types of registered investment accounts in Canada:

• RRSP (Registered Retirement Savings Plan): One of the most common registered accounts, an RRSP allows individuals to save for retirement with tax-deferred growth. Contributions are tax-deductible, and taxes are paid only when funds are withdrawn, typically in retirement when the individual’s tax rate is lower.
• TFSA (Tax-Free Savings Account): A TFSA allows individuals to save or invest money and withdraw it tax-free. Unlike an RRSP, contributions to a TFSA are not tax-deductible, but earnings within the account grow tax-free, and withdrawals are also tax-free.
• RESP (Registered Education Savings Plan): An RESP is designed to help save for a child’s post-secondary education. Contributions are not tax-deductible, but investment income grows tax-deferred, and the government may contribute additional grants, like the Canada Education Savings Grant (CESG).
• RDSP (Registered Disability Savings Plan): An RDSP is designed to help parents and individuals save for the long-term financial security of someone eligible for the Disability Tax Credit (DTC). Contributions are not tax-deductible, but the plan offers tax-deferred growth, and the government may contribute through matching grants or bonds, making it an attractive option for those with disabilities.
• FHSA (First Home Savings Account): The FHSA allows first-time homebuyers to save up to a specified limit, combining aspects of an RRSP and a TFSA. Contributions are tax-deductible, and withdrawals (including any investment growth) used to purchase a home are tax-free, making it a powerful tool for home ownership savings.
• RRIF (Registered Retirement Income Fund): An RRIF is a registered account that converts RRSP savings into income during retirement. Funds in an RRIF must be withdrawn annually, and the withdrawals are taxed as income.
• LIRA (Locked-In Retirement Account): A LIRA holds pension funds for individuals who have left a company’s pension plan. Unlike an RRSP, funds in a LIRA are “locked in” and generally cannot be withdrawn until retirement, except under certain circumstances. It can later be converted to a Life Income Fund (LIF) or a similar retirement income option.

What Are Non-Registered Accounts?

Non-registered accounts, on the other hand, do not offer the same tax benefits as registered accounts. These are flexible investment accounts that can hold a variety of assets but do not have the same restrictions or advantages when it comes to taxes.

Common types of non-registered investment accounts in Canada include:

• Individual Accounts: These are personal accounts held by an individual investor for saving or investing. There are no tax advantages, but they offer flexibility, and there are no withdrawal restrictions.
• Joint Accounts: A joint account is held by two or more individuals, such as a couple, who share equal ownership of the investments. Joint accounts are typically non-registered, though joint registered accounts like joint RRSPs also exist in some cases. Taxes are paid on investment income, and all holders are responsible for reporting their share.
• Corporate Accounts: These accounts are used by businesses to invest surplus funds. Corporate investment accounts allow businesses to grow their assets, but the income earned is subject to corporate tax rates, which may differ from personal tax rates.
• Taxable Investment Accounts: Taxable investment accounts are similar to individual accounts but are specifically used for investments that are subject to taxation. These accounts may include equities, bonds, mutual funds, and other taxable investment products.

Ultimately, registered and non-registered accounts each offer unique advantages tailored to specific financial goals. While registered accounts often provide tax incentives and are designed for long-term savings, such as retirement or education, non-registered accounts can sometimes offer greater flexibility without tax-deferred or tax-free growth. By supporting both types of accounts, investment management software helps financial institutions meet diverse client needs.

4 Key Benefits of Investment Management Software for Banks and Credit Unions

Investment management software offers a wealth of advantages that make it indispensable for banks, credit unions, and other financial institutions. By providing a unified platform to manage client investment portfolios—sometimes through a combination of integrated solutions that handle different aspects of the investment management lifecycle—these systems streamline operations, enhance client service, and drive efficiency across the board.

1. Streamlined Operations and Efficiency: By centralizing and automating key investment tasks, investment management software enables institutions to optimize their workflows and reduce operational overhead. From client onboarding to portfolio rebalancing, the software minimizes manual intervention, reduces errors, and allows financial professionals to focus on higher-value work. This operational efficiency translates into significant cost savings, faster transaction times, and improved scalability.
2. Enhanced Client Experience: Investment management software empowers financial institutions to deliver personalized, client-centric services. With tools that provide detailed insights into individual client needs and market conditions, advisors can create tailored portfolios, offer data-driven recommendations, and ensure each client’s investments are optimized to their goals. The result is a more engaging and rewarding client experience, building trust and long-term relationships.
3. Improved Risk Management and Compliance: The regulatory environment in the financial sector is complex and constantly changing. Investment management software helps institutions stay ahead by automating compliance processes, maintaining comprehensive audit trails, and performing real-time risk analyses. Automated alerts and compliance checks enable institutions to respond quickly to changing regulations and ensure adherence to Canadian standards, such as those set by the Office of the Superintendent of Financial Institutions (OSFI) and other provincial regulatory bodies.
4. Real-Time Insights and Analytics: Access to real-time market data, portfolio performance metrics, and comprehensive analytics is crucial for making informed investment decisions. Investment management software aggregates and analyzes data, providing actionable insights that enable financial professionals to respond dynamically to market fluctuations, rebalance portfolios as needed, and align investments with changing market trends.

The Role of APIs and Cloud Infrastructure in Investment Management Solutions

As the financial industry evolves, so too does the technology that supports investment management. To meet the growing demands of Canadians and financial institutions, investment management software is increasingly leveraging cloud infrastructure and Application Programming Interfaces (APIs) to offer more flexible, scalable, and integrated solutions. These innovations are enabling even smaller institutions to access powerful investment management capabilities without the need for extensive IT resources through the deployment of point solutions.

Cloud-Based Solutions Offer Scalability and Flexibility

Cloud-based deployment or cloud banking is revolutionizing the way investment management software is used across the financial sector, particularly as a core banking application. By moving to the cloud, financial institutions gain access to highly secure and scalable solutions that can grow with their needs. The cloud provides a more cost-effective way to manage investment portfolios, reduces IT infrastructure costs, and enhances data storage and security. This flexibility allows institutions to respond to market changes quickly, deploy new features seamlessly, and ensure their systems remain up to date with the latest advancements in financial technology.

API-Driven Integration Can Streamline Customization

APIs are making investment management systems more customizable and create interoperability with other financial technologies. Through API-driven integration, financial institutions can create or connect point solutions tailored to their specific needs, without having to replace their entire IT infrastructure. For smaller institutions, like Canadian credit unions, this means they can easily implement an investment management system that integrates with their existing platforms, making it possible to leverage advanced tools and features without significant upfront investment. APIs provide a way to connect different financial systems, enabling seamless data exchange and improving operational efficiency across multiple platforms.

Looking Ahead: The Future of Investment Management Software

As technology continues to evolve, so will investment management systems. There’s no doubt that artificial intelligence (AI) will play a powerful role in personal investing in the years ahead as trusted investment management software expands to provide more powerful personalized investing experiences.

In the coming years, AI may play a crucial role in automating portfolio management, improving risk analysis, and driving smarter investment decisions. While AI applications in investment management are still developing, they hold the potential to significantly enhance how financial institutions manage assets and respond to market conditions, offering an exciting glimpse into the future of investment management solutions.

For more information on Portfolio+, including its API and investment management capabilities, cloud-based banking solutions, or its core banking system, contact us today!

Sources:

https://www.investopedia.com/terms/k/knowyourclient.asp  (Retrieved November 7, 2024)

https://www.investopedia.com/terms/i/investment-management.asp (Retrieved November 5, 2024)

https://www.canada.ca/en/revenue-agency/services/tax/registered-plans-administrators/registered-investments/registered-investments-1.html (Retrieved November 6, 2024)

https://www.investopedia.com/terms/u/unregistered-account-/-nonregistered-account.asp (Retrieved November 7)

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The charity golf tournament is dedicated to raising awareness and funds for Madison Community Services, a Toronto-based organization that has been supporting individuals with mental health challenges since 1981.

As a proud golf cart and hole sponsor, Portfolio+ was thrilled to contribute to this worthwhile cause which reflects Portfolio+’s commitment to making a meaningful difference. This year’s tournament was an opportunity for corporate sponsors, employees, and the community to come together for a day of golf and charity while supporting the mental health initiatives that Madison Community Services provides throughout the Greater Toronto area.

“We are always looking for ways to give back to the community, especially when it comes to supporting mental health and well-being,” said Dianne Cupples, CEO of Portfolio+. “Partnering with Equitable Bank and Madison Community Services allows us to contribute to an important cause that aligns with our values.” With a commitment to community support and social responsibility, Portfolio+ consistently works to contribute to causes that foster mental health and wellness.

To learn more about Madison Community Services, please visit: https://madisoncs.org/

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We are excited to announce that the 13th annual Portfolio+ Open charity golf event will take place on Tuesday, September 17, 2024. It will be held at the prestigious Angus Glen Golf Course in Markham, a venue known for its world-class facilities and beautiful surroundings.

As in previous years, the Portfolio+ Open is dedicated to supporting Kids Help Phone, a vital resource for young people in need of mental health support and counseling. All proceeds from the tournament will go directly to this incredible charity, helping them continue their essential work.

Registration for the event is now open, and sponsorship opportunities are still available. This is a fantastic chance for businesses and individuals alike to get involved, show their support, and make a difference in the lives of young people here in Canada. The excitement and enthusiasm from our clients, sponsors, and past attendees is already building, promising an unforgettable day of golf, networking, and philanthropy.

The event will feature a full day of activities, including a barbeque lunch, a round of golf on Angus Glen’s beautifully maintained course, on-course entertainment, a cocktail reception, an exquisite post-tournament dinner and the opportunity to win tons of awesome prizes.  It’s a perfect opportunity to enjoy a day out with colleagues, clients, or business partners, all while supporting a worthy cause.

We eagerly anticipate another successful event and look forward to seeing both familiar and new faces. Stay tuned for more information and updates as the event approaches. In the meantime, visit our dedicated event webpage to learn more about registration, sponsorship opportunities, and event details: Portfolio+ Open.

Join us in making a difference today!

About Portfolio+ Inc.

Portfolio+ banking systems and technologies connect financial institutions with fintechs and industry partners, offering a trusted platform for revolutionary banking experiences. Its powerful cloud-native core banking system and RESTful API offer a flexible foundation for secure open finance integrations and some of the industry’s most innovative Banking-as-a-Service solutions. Designed in Canada, Portfolio+ solutions are thoughtfully developed to support the evolving ecosystem of financial services technology and putting consumers in control of their financial data.

Located in the Greater Toronto Area (GTA), Portfolio+ is used by 5 of the 7* largest financial institutions in Canada, as well as Forbes’ best banks.

Portfolio+ Inc. is a part of Volaris Group Inc.

For more information, please visit portfolioplus.com.

*Based on TSE market capitalization figures retrieved in October 2023.

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Portfolio+ Inc. (Portfolio+), a leading Canadian provider of financial services systems and technologies, proudly announces its collaboration with MCAN Financial Group (MCAN) in launching a new direct-to-client Guaranteed Investment Certificate (GIC) channel powered by Portfolio+’s term deposit software, through its MCAN Wealth brand. The direct-to-client GICs are available today!

The Portfolio+ cloud-native core banking system, coupled with its robust application programming interface (API), played a pivotal role in MCAN’s initiative, launched in February 2024. Leveraging the Portfolio+’s term deposit system, MCAN seamlessly originates and manages GICs, while also harnessing the power of Portfolio+ APIs to innovate and enhance consumer experiences with direct-to-client GICs.

President and CEO of MCAN, Don Coulter, expressed enthusiasm about the new channel, stating, “The growth of MCAN Wealth and this direct-to-client channel represents our ongoing commitment to innovation and client-centric solutions. We believe in empowering individuals to invest in their financial future.”

MCAN Wealth offers a suite of GIC products tailored to meet the diverse financial goals of Canadians. Clients can benefit from competitive interest rates, ensuring steady growth in their investments. The platform is designed to be user-friendly, providing a seamless and convenient investment experience. MCAN Wealth’s GICs are eligible for CDIC insurance, providing investors with added security and peace of mind.

MCAN has seen an impressive response to the new channel. “We’re building brand awareness and generating a lot of demand through our multichannel approach to grow this line of business,” shared MCAN COO Avish Buck.

“We are happy to be a partner alongside MCAN to help them realize this strategic opportunity which will help them grow their client base,” said Dianne Cupples, CEO of Portfolio+ Inc. “With Portfolio+’s proven term deposit platform, MCAN was able to expand their offerings to a new target market and increase their overall deposit book of business by automating their workflows for selling and processing term deposits.”

Visit mcanfinancial.com for more information on MCAN’s new direct-to-client GICs.

About MCAN Financial Group

MCAN Mortgage Corporation d/b/a MCAN Financial Group is a public company listed on the Toronto Stock Exchange under the symbol MKP and is a reporting issuer in all provinces and territories in Canada. MCAN also qualifies as a Mortgage Investment Corporation (MIC) under the Income Tax Act (Canada). MCAN is the largest MIC in Canada and the only federally regulated MIC.

MCAN’s primary objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages, including residential mortgages, residential construction, non-residential construction, and commercial loans, as well as other types of securities, loans, and real estate investments. MCAN employs leverage by issuing term deposits that are eligible for Canada Deposit Insurance Corporation deposit insurance. MCAN is Investing in Communities and Homes for Canadians.

mcanfinancial.com | mcanexecutive@mcanfinancial.com| TSX: MKP

About Portfolio+ Inc.

Portfolio+ banking systems and technologies connect financial institutions with fintechs and industry partners, offering a trusted platform for revolutionary banking experiences. Its powerful cloud-native core banking system and RESTful API offer a flexible foundation for secure open finance integrations and some of the industry’s most innovative Banking-as-a-Service solutions. Designed in Canada, Portfolio+ solutions are thoughtfully developed to support the evolving ecosystem of financial services technology and putting consumers in control of their financial data.

Located in the Greater Toronto Area (GTA), Portfolio+ is used by 5 of the 7* largest financial institutions in Canada, as well as Forbes’ best banks.

Portfolio+ Inc. is a part of Volaris Group Inc.

For more information, please visit portfolioplus.com.

*Based on TSE market capitalization figures retrieved in October 2023.

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Portfolio+, a leader in financial technology solutions, proudly announces the successful deployment of its application programming interface (API) for for Equitable Bank’s Loan Origination System (LOS), “EQ Genesis.” The innovative digital lending API and integration provides Equitable Bank, Canada’s Challenger Bank and seventh largest bank by assets, with forward-thinking technology that enhances its digital banking services and provides a faster, seamless experience for its customers and employees by reducing the time it takes to approve and fund customer loans.

“We are jointly committed to making banking more convenient for customers while also providing a more engaging employee experience by optimizing their workflow with new technology. Portfolio+’s lending API integration into our EQ Genesis platform is instrumental in achieving this goal,” said Dan Broten, Chief Technology Officer of Equitable Bank. “With these tools, we can streamline lending processes, speed up loan approvals and ultimately deliver more of the world-class experiences that customers and employees have come to expect from Canada’s Challenger Bank.”

The powerful new API securely connects Equitable Bank’s existing lending system with a modern, cloud-based LOS, providing a smoother, user-friendly experience for the bank’s underwriters. The integration simplifies the entire lending process including origination, underwriting, approval and funding, which will ultimately lead to faster turnaround times for customers.

“Equitable Bank’s drive to relentlessly improve the banking experience for customers and create a more intuitive and smooth experience for employees aligns with our mission to deliver innovative solutions in Canadian financial services,” said Dianne Cupples, CEO of Portfolio+. “Our lending API ensures that customer data is shared securely, and the integrations you can create with this type of technology are about creating better experiences—both for lenders and for their customers.”

Equitable Bank, Canada’s seventh largest bank by assets, additionally uses the technology to improve file access and automate workflows by integrating platforms, resulting in more streamlined processes for employees and powerful scale.

The API-based lending solution underscores Portfolio+’s dedication to driving advancements in the financial services sector through both technological integrations and valuable industry partnerships that improve the banking experience in a more connected and responsive banking environment. The approach leads to better banking experiences for consumers, while fostering a more connected and responsive banking ecosystem.

About Equitable Bank

Equitable Bank has a clear mission to drive change in Canadian banking to enrich people’s lives. As Canada’s Challenger Bank and seventh largest bank by assets, it leverages technology to deliver exceptional personal and commercial banking experiences and services to over 639,000 customers and more than six million credit union members through its businesses. It is a wholly owned subsidiary of EQB Inc. (TSX: EQB and EQB.PR.C), a leading digital financial services company with $123 billion in combined assets under management and administration (as at April 30, 2024). Through its digital EQ Bank platform (eqbank.ca), its customers have named it one of the top banks in Canada on the Forbes World’s Best Banks list since 2021.

To learn more, please visit eqb.investorroom.com or connect with us on LinkedIn.

Media contact:
Maggie Hall
Director, PR & Communications
maggie.hall@eqbank.ca

About Portfolio+ Inc.

Portfolio+ banking systems and technologies connect financial institutions with fintechs and industry partners, offering a trusted platform for revolutionary banking experiences. Its powerful cloud-native core banking system and RESTful API offer a flexible foundation for secure open finance integrations and some of the industry’s most innovative Banking-as-a-Service solutions. Designed in Canada, Portfolio+ solutions are thoughtfully developed to support the evolving ecosystem of financial services technology and putting consumers in control of their financial data.

Located in the Greater Toronto Area (GTA), Portfolio+ is used by 5 of the 7* largest financial institutions in Canada, as well as Forbes’ best banks.

Portfolio+ Inc. is a part of Volaris Group Inc.

For more information, please visit portfolioplus.com.

*Based on TSE market capitalization figures retrieved in October 2023.

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From her humble beginnings as a credit union teller to moving through various roles and positions, leading her to her current role, as Chief Executive Officer of Portfolio+.

Dianne recalls being one of the few women in the room while networking in her industry. She emphasizes the importance of being comfortable in her own skin and earning respect through her contributions. Though she doesn’t see this as a challenge, she views it as a learning experience. Today, she finds joy in seeing more women in fintech and financial services, including at Portfolio+, where 45% of the leadership team are women. Her advice to women is to ask clarifying questions and seek a mentor for support. For Dianne, leadership is about putting others first and leaving a lasting impact.

Dianne credits her success to a service-first leadership style and to her involvement with TEC Canada, which has provided valuable mentorship to her since 2020. She emphasizes the importance of teamwork, innovation, and mentorship.

Learn more about Dianne by reading the full Member Spotlight here: https://tec-canada.com/member-stories/dianne-cupples/

The post Dianne Cupples – Leading with Passion and Purpose (a TEC Canada Member Spotlight) appeared first on Portfolio+.

Portfolio+ is excited to announce its participation at the 2024 Open Banking Expo on Tuesday, June 11, 2024, at the Metro Toronto Convention Centre in downtown Toronto.

Join us along with other innovators and visionaries driving the open banking movement in Canada. We look forward to connecting with attendees to explore collaboration opportunities and strategies to shape open banking in the country.

Visit us at Booth 3 on the Exhibit Floor to discover how Portfolio+’s trusted banking technology and open banking API can transform your organization. Engage in insightful conversations, pick up some awesome swag, and get the chance to win exciting prizes!

Interested in learning more about our open banking solutions? Reach out to us through the Open Banking Expo Event App to schedule a meeting with our team during the conference. For more details about the event, please visit the event website.

We look forward to seeing you at the Open Banking Expo in Toronto!

Learn More About Our API and Open Banking Technologies

Financial institutions interested in learning more about Portfolio+’s API, banking as a service (BaaS) technologies, and open banking capabilities are encouraged to contact Portfolio+.

The post Join Portfolio+ at the 2024 Open Banking Expo! appeared first on Portfolio+.

We’re pleased to announce the next minor release of Portfolio+ will be available to current customers on June 21. Portfolio+ 18.6 is packed with 34 new updates and enhancements that reflect our ongoing commitment to helping financial institutions respond to the industry’s changing regulatory and economic environment.

As part of this release, Portfolio+ is proud to introduce the First Home Savings Account (FHSA), a registered plan product type that provides financial institutions with more tools to help Canadians navigate the housing crisis and save for their first down payment.

In addition, Portfolio+ will also include a collection of regulatory enhancements, including tax slip updates for Locked-in Retirement Savings Plans (LRSPs) and Locked-in Retirement Income Funds (LRIFs), as well as expanded functionality for Registered Disability Savings Plans (RDSPs).

The upcoming products, features, and enhancements are all designed to improve business processes and overall user experience.

Release Notes Are Coming June 14

Customers can log in to Advantage and visit the notifications page to download the release notes for Portfolio+ 18.6 starting June 14. If release notes are completed before their anticipated release date, we will immediately make them available to customers.

Portfolio+ encourages customers to use the latest release notes as a guide to prepare for regression and user acceptance testing.

Your feedback is invaluable as we focus on building banking software solutions for tomorrow. If you have any questions regarding this product release or feedback about new features, please speak with your senior sales account manager.

About Portfolio+ Inc.

Portfolio+ banking systems and technologies connect financial institutions with fintechs and industry partners, offering a trusted platform for revolutionary banking experiences. Its powerful cloud-native core banking system and RESTful API offer a flexible foundation for secure open finance integrations and some of the industry’s most innovative Banking-as-a-Service solutions. Designed in Canada, Portfolio+ solutions are thoughtfully developed to support the evolving ecosystem of financial services technology and putting consumers in control of their financial data.

Located in the Greater Toronto Area (GTA), Portfolio+ is used by 5 of the 7* largest financial institutions in Canada, as well as Forbes’ best banks.

Portfolio+ Inc. is a part of Volaris Group Inc.

For more information, please visit portfolioplus.com.

Contact Us Today!

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