Portfolio+ Launches Canada’s First Open Cloud Banking Ecosystem
TORONTO, February 14, 2022 /CNW/ – Portfolio+ Inc. (Portfolio+) has launched its robust cloud-based platform to help neo-banks and fintechs pivot to the open banking movement by Canada. The foundational platform also serves as a catalyst to transform traditional banks and financial services companies into cloud-first enterprises capable of introducing innovative financial products and services.
“The launch of our advanced cloud platform provides the Canadian financial services industry with the digital glue to drive open banking,” said Dianne Cupples, CEO of Portfolio+. She added, “The ecosystem of global cloud service providers and experienced developers combined with Portfolio+’s core banking expertise results in a seamless and secure consumer-centric banking experience. Our team is proud to launch a world-class cloud framework in Canada. We are confident in our ability to incubate cutting-edge financial products and services that fintechs can bring to market.”
The Portfolio+ cloud platform provides a level playing field for smaller banks, credit unions, and payment service providers to join the open banking movement. Portfolio+ leverages Application Programming Interface (API) – controls driven by the Application Programming Interface (API) to provide secure access to innovative financial services, deposit accounts, budgeting tools and investment, which helps incumbents as well as start-ups attract and retain digital consumers.
Portfolio+’s ecosystem approach unleashes open finance in Canada by deploying a flexible cloud architecture. The scalable platform allows partners to develop new products and services and add additional functionality to existing offerings by leveraging proven APIs. Additionally, their partnerships with AWS Cloud, Microsoft Azure, and Google Cloud help navigate around security, privacy, and regulatory compliance needs during the cloud migration journey.
About Portfolio+ Inc.
Portfolio+ Inc. connects financial institutions to clients and partners using innovative technologies. Its core banking software solutions and open banking technology are used by financial institutions in Canada and the UK. With its powerful +Open Banking platform and fully documented RESTful APIs, Portfolio+ has the power to connect banks, credit unions and financial institutions to the evolving ecosystem of financial services technology that puts everyday customers in control their financial data.
Located in the Greater Toronto Area (GTA), Portfolio+ is used by 5 out of 7* largest financial institutions in Canada and is part of Volaris Group Inc. For more information, please visit portfolioplus.com.
(*Based on TSE market cap figures retrieved from September 2020.)
SOURCE Portfolio+ Inc.
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