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GICSERV Release Schedule

SIT to Release GICSERV Interface to Portfolio Plus

Toronto, ON, Canada – September 5, 2012: Strategic Information Technology Ltd. ("SIT") is pleased to announce the upcoming release of the GICSERV interface to Portfolio Plus.

SIT is scheduled to release the GICSERV interface to Portfolio Plus in two phases. Phase one of the GICSERV interface is slated for release on September 15, 2012. Phase one will include order functionality and confirmations. Phase two will consist of net settlement capabilities and is scheduled to be relased on October 30, 2012.

"It was a pleasure working with FundSERV and a few of our early adopter customers to bring this functionality forward", said G. Robert Leeming, President of SIT. "We'll continue to work closely with them as the software is released to ensure we have the functionality and quality that the market needs."

"We’d like to thank SIT for their efforts and for their GICSERV working group participation to help build industry standards," said Brian Gore, President and CEO at FundSERV. "GICSERV functionality will help automate nominee name and client name platforms, net settlement messaging, and account position reconciliation. These efficiencies complement FundSERV's mission of reducing time, cost, and risk within the Canadian investment industry."

About FundSERV

FundSERV is a business-to-business electronic network with world-class transactions processing applications, servicing the Canadian investment industry. Its mission is to reduce time, cost and risk from investment fund processing through automation.

Established in 1993, FundSERV is an online hub that electronically connects manufacturers, distributors and intermediaries, enabling them to buy, sell and transfer investment funds amongst each other. FundSERV services hundreds of organizations – representing approximately 30 million financial transactions annually– and provides online access to over 35,000 investment fund products.

FundSERV is a private, for-profit company that operates on a cost-recovery business model, meaning that FundSERV customers receive an annual rebate.

About Strategic Information Technology Limited

SIT, formed in 1988, develops and markets Portfolio Plus, an extensible banking system that allows 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 empowers 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

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.

SIT can be reached at (www.stratinfotech.com) or by phone at 905-640-0808.

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


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This page was created or refreshed on October 15, 2018 @ 12:07:20
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
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