TORONTO, April 5, 2016 /CNW/ - DH Corporation (TSX: DH) ("D+H"), a leading provider of technology solutions to financial institutions globally, today announced that one of its subsidiaries has been selected by the Government of Canada to provide financial solutions and related services for the Canada Student Loans Program, and five integrated provincial programs. D+H expects that it will continue as the incumbent provider of these services under the terms of its existing contract, which D+H has been advised will be extended until the implementation of its new solution, which is expected to be operational by April 2018. The new contract will have an initial term of eight years with up to a further seven years at the Government's option.
"We are very pleased with this decision and look forward to continuing to serve the Government of Canada and more than 1.4 million students who participate in this important program in support of post-secondary education," said D+H Chief Executive Officer Gerrard Schmid. "We believe this contract award demonstrates D+H's ability to compete on the world stage to deliver leading loan-servicing solutions and a world-class digital experience that today's consumers have come to expect."
D+H (TSX: DH) is a leading financial technology provider the world's financial institutions rely on every day to help them grow and succeed. Our global transaction banking, lending, payments and integrated core solutions are trusted by nearly 8,000 banks, specialty lenders, community banks, credit unions, governments and corporations. Headquartered in Toronto, Canada, D+H has more than 5,500 employees worldwide who are passionate about partnering with clients to create forward-thinking solutions that fit their needs. With annual revenues in excess of $1.5 billion, D+H is recognized as one of the world's top FinTech companies on IDC Financial Insights FinTech Rankings and American Banker's FinTech Forward rankings. For more information, visit dh.com.
SOURCE DH Corporation
For further information: Karen H. Weaver, Executive Vice President and Chief Financial Officer, D+H; Richard Colgan, Senior Investor Relations Manager, D+H, (416) 696-7700, firstname.lastname@example.org or visit our website at dh.com.