Portfolio+ term deposit management software helps financial institutions, including insurance companies, develop bespoke products. It offers the flexibility to create parameter-driven products, where term deposit variables (interest rate, period and commission) can be customized based on the needs of users, and the dynamics of sales channels and intermediaries.
Our proven system allows investors to incorporate term deposits into the Registered Retirement Savings Plan (RRSP) portfolio as well as other registered products such as Registered Education Savings Plan (RESP), Registered Retirement Income Fund (RRIF) and Tax Free Savings Account (TFSA).
Why Portfolio+ term deposit management software?
The Portfolio+ software automates workflows across the term deposit lifecycle – from import and upload of documents and confirmation of purchase to reconciliation and settlement of payments and brokerage. It allows customers to requisition funds (by cheque or cash) and use the Portfolio+ retail banking account to invest in term deposits, receive interest payments, and maturity deposits.
We integrate term deposit and investment management software solutions to help account holders manage term deposits as part of registered savings plans as well as non-registered investment funds. Our robust system supports sales promotion to increase term deposits, directly as well as through a network of advisors, agents, brokers, and dealers. Moreover, it allows tax statements to be shared directly with depositors or via agents.
Portfolio+ term deposit management software enables trading in Guaranteed Investment Certificates (GICs), Guaranteed Income Options (GIOs), annuities, and term deposits on the CANNEX Financial Network (CFN). The CANNEX interface of our term deposit management software helps financial institutions / agents access application forms and create a Customer Information File (CIF) on demand.
Our solution generates term deposit confirmation and reconciliation statements automatically. Soft copies of investment records can be shared in real time with investment brokers through CFN, which facilitates prompt customer service. Seamless access to CFN streamlines services such as redemption, interest payment, re-registration, transfer, and commission payment.
Our database enables easy search and retrieval of documents based on the customer name, certificate number, cheque number, or payment due date. Significantly, the Portfolio+ solution enables a consultative approach to grow the fixed investment business.
Portfolio+ term deposit management software enables seamless event processing. It digitizes all transactions: payment (principal, interest and commission), transfer (partial, full, early redemption, and re-registration) and execution (position reconciliation and net settlement). Notably, automation facilitates bulk upload and onboarding of term deposit portfolios from third parties. Digitization ensures real-time update of journals and the general ledger. Automated accounting, in turn, enhances the efficiency of auditing systems.
Our term deposit management software helps the administrator / supervisor manage diverse functions in real time, including renewal, redemption, cancellation, assignment, and transfer of deposits as well as printing of certificates and receipts. Moreover, it allows the term deposits administrator to update financial information such as principal amount, term or rate; and override clauses to rectify input or communication errors.
Portfolio+ term deposit management software addresses the liquidity requirements of banking institutions, lenders and brokerage firms via nominee and client term deposits. It reduces marketing expenses and minimizes overheads for financers seeking to fund loans and credit cards through the nominee term deposit market. Significantly, our solution allows institutions without retail operations to raise liquidity by cultivating a broker network.
Our software boosts the efficiency of brokers by enabling collaboration with multiple nominee term deposit issuers to better manage a customer’s investments. Brokers can re-register or transfer a term deposit to another issuer to minimize risks and improve returns for customers. Significantly, the Portfolio+ solution enables member institutions of the Canada Deposit Insurance Corporation (CDIC) to comply with regulations by automating transaction updates.
Our flexible system minimizes the time and effort required for compliance with emerging amendments to the CDIC Act such as insurance protection for deposits held in foreign currencies, and extension of separate coverage for RESP and Registered Disability Savings Plan (RDSP) deposits.
Portfolio+ Term Deposit Management Solution Footprint
Types of Deposits
- Registered and non-registered
- Adjustable and stepped rate
- Short- and long-term
- Payment processing
- Auditing and security
- Data validation and reporting
- Broker and agent management
- Data accuracy
- Tax statements
- Digital transaction trail
- AML and FATCA compliance
- Statutory and CDIC insurance reporting
- Liquidity reporting
- Interest rate / funding management
- Exception reporting
- User and group-based controls
Portfolio+ Term Deposit Management Ecosystem
Accelerates deposit management by
- Supporting preferred rates for high net worth individuals
- Streamlining agent and sub-agent transaction processing
- Facilitating personalized offerings
- Automating end-to-end workflow
- Providing an audit trail
Ensures reliability through
- Error codes for data accuracy
- Secure FTP protocol for data sharing
- Detailed time-stamping for data validation
- Document management for regulatory compliance
- User and group-based controls for secure access
Boosts productivity by using the Customer Information File (CIF) to
- Gain a consolidated view of holdings, including mortgages, registered
- Plans, lines of credit, and retail banking accounts
- Manage the client relationship
- Respond to customer queries
- Cross-sell relevant products
Grows the sales network by simplifying
- Creation and maintenance of agent profiles
- Customization of agent commission
- Agent-specific reporting spanning commission, sales, territory, etc
Mitigates risks by restricting access to
- Enter data
- Print reports
- Query records
- Execute transactions
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