Portfolio+ is set to power Habib Canadian Bank’s guaranteed investment certificates with an automated term deposit solution that streamlines deposit sales and processing.
By automating and streamlining GIC sales, the solution minimizes manual administration and ensures financial institutions have control over pricing, terms, and funding levels, according to a statement from Portfolio+.
“Portfolio+ will provide the technology and integration capabilities we need to quickly grow our GIC and term deposit business across Canada,” believes Hasan Naqvi, who serves as 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,” he continued.
Toronto’s Portfolio+ offers cloud-based banking-as-a-service technologies for financial institutions, including five of the six largest banks in Canada. The tech stack includes automated GICs and flexible rate, incentivization, and commission options.
“Our partnership with Habib Canadian Bank highlights the power of leveraging our deposit solutions to scale quickly and efficiently,” stated Dianne Cupples, CEO of Portfolio+.
“We are proud to support their expansion across Canada, bringing more savings, investment, and borrowing opportunities to Canadians,” she said.
Habib Canadian Bank was established in 2001 and is a subsidiary of Habib Bank AG Zurich, which was established in Switzerland in 1967 and now spans 11 countries across four continents. The company has Canadian offices in Brampton, Mississauga, and Scarborough.
Portfolio+ is part of Vencora, which has been building out a family of fintechs since Ontario’s Volaris Group launched the acquisition-happy entity in 2022.
Today, Vencora houses 17 different brands within its portfolio, including Quarzo, Datapro, and Insuresoft.
Leave a Reply