Toronto, ON, Canada – September 18, 2009: Strategic Information Technology Ltd. (“SIT”) 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 SIT 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.”
SIT’s 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 SIT. “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.
SIT, formed in 1988, develops and markets Portfolio Plus, an extensible banking system that enables customers to plug-in new functionality as required. This is accomplished via SIT's unique Plug-In BankingTM architecture, an Open Banking InterfaceTM, and a Financial Services BusTM that extends Portfolio Plus functionality to other corporate applications. SIT's banking software enables credit unions, banks, trust companies and building societies to offer web banking, loans, loan securitization, investments, term deposits, wealth management, retail, ATM/POS switch interfaces for debit cards, and credit bureau interfaces. Portfolio Plus can also be tailored, on request, to meet specific customer requirements.
SIT can be reached at (www.stratinfotech.com) or by phone at 905-640-0808.
Portfolio Plus, Plug-In Banking, Open Banking Interface, and Financial Services Bus are trademarks or registered trademarks of SIT in the U.S., Canada and other countries. Any other trademarks or service marks contained herein are the property of their respective owners.
Forward-looking statements in this document are based on current expectations that are subject to risks and uncertainties. Actual results might differ materially due to various factors such as the competitive nature of the software industry, the ability of SIT to continue to execute its growth and development strategy, and the reliance of SIT on key personnel. SIT assumes no obligation to update forward-looking statements, or to update the reasons why actual results could differ from those that are projected.
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This page was created and/or refreshed on April 24, 2017 @ 10:26:24
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
The page subject is: Xceed Chooses Portfolio Plus for Term Deposits