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Banking Software: CANNEX Interface

The CANNEX Interface for Nominee Name and Client Name Business

Need to dramatically increase deposit sales? Want advisors to sell your deposit products? We recommend using the CANNEX Financial Network (CFN) in combination with the Portfolio Plus Term Deposit module and its industry-proven CANNEX interface. Whether it’s “nominee name” or “client name” business you’re seeking, the marriage of Portfolio Plus and CANNEX is a fertile combination. Just ask our customers. Ask how Portfolio Plus and the CANNEX Financial Exchange has helped them grow.

Accelerate and Simplify the Deposit Purchasing Cycle

Portfolio Plus integrates with CANNEX, enabling you to manage each stage of the term deposit broker purchasing cycle:

Customer Inquiry

• Customer decides to invest in a term deposit
• Customer contacts broker
• Via the internet, the agent reviews the best rates available from CFN

Customer Purchase

• Customer works with broker to choose the appropriate rate and financial institution
• Broker, on behalf of the customer, fills out an electronic application for the term deposit and transmits it to CFN
• Using Portfolio Plus, the financial institution retrieves the term deposit application from CFN. Portfolio Plus then creates the customer information file (CIF) and records all investment details.

Confirmation and Reconciliation

CANNEX Interface Brochure

• Portfolio Plus generates confirmations and transmits them through CFN to the appropriate broker
• The broker downloads confirmations and forwards them to the end customer
• Portfolio Plus prepares reconciliation documentation and transmits it to the broker through CFN
• Broker periodically downloads data reconciliation file for follow up and archiving

Commission Payments

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• Portfolio Plus prepares interest payments, principal payments, and commission payments through preauthorized debits or cheques