Habib Canadian Bank Chooses Portfolio+ to Expand GICs Across Canada
Empowering Canadian Financial Institutions with Automated Term Deposit Processing Technology
TORONTO, March 11, 2025 /CNW/ - Portfolio+, a leader in Canadian banking technology, today announced that Habib Canadian Bank has selected the company's automated term deposit solution to launch nominee-name guaranteed investment certificates (GICs) through a network of deposit brokers, reaching Canadians nationwide. The technology will streamline deposit sales and processing, help meet the growing demand for GICs in Canada, and unlock access to capital to support the expansion of the bank's lending business.
Leveraging seamless integration with the industry's leading GIC exchange network, Portfolio+ offers Habib Canadian Bank robust broker management features and a wide range of deposit options to meet the diverse needs of Canadians. By automating and streamlining GIC sales, the solution minimizes manual administration and ensures financial institutions have complete control over pricing, terms, and funding levels.
"Portfolio+ will provide the technology and integration capabilities we need to quickly grow our GIC and term deposit business across Canada," said Hasan Naqvi, Chief Financial Officer at Habib Canadian Bank. "This partnership will allow us to expand beyond our current market, ensuring we can offer greater access to the services and financial solutions Canadians deserve."
"Our partnership with Habib Canadian Bank highlights the power of leveraging our deposit solutions to scale quickly and efficiently," said Dianne Cupples, CEO of Portfolio+. "We are proud to support their expansion across Canada, bringing more savings, investment, and borrowing opportunities to Canadians."
With Portfolio+ term deposit technology, financial institutions can:
- Automate GICs and Term Deposit Sales: Streamlines term deposit processing and administration by automating the sales process for nominee-name GICs.
- Expand Market Reach: Enables financial institutions to quickly expand market reach, providing the ability to scale deposit sales with flexible rate controls.
- Strengthen Broker Relationships: Enhances broker management with flexible rate, incentivization, and commission options.
Portfolio+ is trusted by some of the biggest and best banks in Canada. Leveraging core banking technology, cloud deployment services, and powerful integration capabilities, Portfolio+ helps financial institutions deliver financial products and services designed with Canadians in mind.
About Habib Canadian Bank
Habib Canadian Bank was established in 2001 and is a subsidiary of Habib Bank AG Zurich—established in Switzerland in 1967 and has grown into a global institution with a presence in 11 countries spanning across four continents. Over the past six decades, HBZ has expanded internationally, combining modern technology with timeless values.
Built on the foundation of trust, integrity, and innovation, Habib Canadian Bank offers a comprehensive spectrum of products and services designed to cater to customers diverse banking needs.
Located in Brampton, Mississauga and Scarborough.
About Portfolio+ Inc.
Portfolio+ banking systems and technologies connect financial institutions with fintechs and industry partners, providing a trusted platform for Canadian banking. Its powerful cloud-based core banking system and RESTful API are used by the country's best banks, offering a flexible foundation for some of the industry's most innovative banking and Banking-as-a-Service solutions. Designed in Canada, Portfolio+ solutions are thoughtfully developed to support the evolving ecosystem of financial services technology, and the company remains focused on enabling the financial marketplace with solutions that impact Canadians every day.
Portfolio+ is used by 5 of the 6* largest financial institutions in Canada, as well as Forbes' best banks.
Located in the Greater Toronto Area (GTA), Portfolio+ Inc. is a part of Vencora.
For more information, please visit portfolioplus.com.
SOURCE Portfolio+ Inc.
For media queries, please contact: Adam Long, Design & Communications Manager, Portfolio+ Inc., [email protected]
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