| Peer to Peer Lending and Banking in Canada

CommunityLend takes Another Step Forward for Peer-to-Peer Lending & Banking in Canada

Canadian Peer-to-Peer Lending & Banking Closer Than Ever

Toronto, ON, Canada – September 15, 2009: Strategic Information Technology Limited (“SIT”) is pleased to announce that CommunityLend has taken another step forward towards opening the doors to operate a peer-to-peer lending business in Canada and has now been registered as a "limited market dealer" in Ontario.

“We’ve admired CommunityLend’s efforts to pioneer a new financial services market in Canada and we’ll be there to support their launch and subsequent growth”, said G. Robert Leeming, President of SIT.

CommunityLend’s peer to peer banking platform is powered by a unique combination of open source technologies and SIT’s Portfolio Plus banking software platform. The SIT Open Banking InterfaceTM is the messaging conduit between the open source technologies and Portfolio Plus.

About CommunityLend

CommunityLend is a unique social lending service launching in Canada in 2009. CommunityLend will join the social-banking revolution currently underway around the world which Javelin Research predicts will be “a game changing development in financial services interactions.”

More regulatory information about CommunityLend can be found on the Ontario Securities Commission website.

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 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, leasing, and credit bureau interfaces. Portfolio Plus can also be tailored, on request, to meet specific customer requirements.

SIT can be reached at (http://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.

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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