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Banking Software News:

CIBC Upgrades to Portfolio Plus 2007

Toronto, Canada – December 4, 2007: Strategic Information Technology Limited (“SIT”) is pleased to announce that CIBC has completed its upgrade to Portfolio Plus 2007.

“We have 19 years of innovation behind us and we’re getting better at it,” said G. Robert Leeming, President of SIT. “Our yearly releases ensure that customers can depend on getting the most up to date features on a regular basis.”

Portfolio Plus enables banks, trust companies, virtual banks, 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, making it one of the most versatile solutions in the market.

CIBC is one of Canada's largest banks. With revenues of 11.3 billion and a net income of $2.6 billion (year ending October 31, 2006), CIBC provides a full range of products and services to almost 11 million individual and small business clients. CIBC has approximately 37,000 employees worldwide, 1,055 branches, and more than 3,800 automated banking machines (ABMs).

About Strategic Information Technology Limited

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 and a Financial Services BusTM that extends Portfolio Plus functionality to other corporate applications. SIT's banking software enables banks and non-banks to offer web banking, loans, loan securitization, investments, term deposits, wealth management, retail, ATM/POS switch interfaces for debit/credit or loyalty products, leasing, Equifax and Trans Union credit bureau interfaces, registered investment products, and much more. Portfolio Plus can also be tailored, on request, to meet specific customer requirements.

Portfolio Plus, Plug-In Banking 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.

For more information:
Adam Long
Strategic Information Technology
Telephone: 905-640-0808 x452
Email: adaml@stratinfotech.com


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by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
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