Duo Bank of Canada Issues Its First GICs on Portfolio+

TORONTO, Ontario — October 24, 2019

Portfolio+ Incorporated (Portfolio+ Inc.) is pleased to announce that Duo Bank of Canada has already issued millions of dollars using Portfolio+ term deposit software after launching in early September. Duo Bank of Canada is Portfolio+ Inc.’s newest customer leveraging Portfolio+’s industry-proven term deposit technology to integrate with one of the country’s largest financial networks in order to sell and administer CDIC-backed GICs in Canada.

“When we began our research into this initiative, Portfolio+’s solution was highly recommended within the industry,” said Horace Saunders, COO, Duo Bank of Canada. “We saw an opportunity to leverage the experience of the people at Portfolio+ Inc. to provide guidance around everything from our expectations to implementation considerations. We knew we had made the right decision to partner with Portfolio+ Inc. after we began working with their team.”

Duo Bank of Canada chose the Portfolio+ term deposit solution for its efficiencies. The technology integrates with the industry’s leading application processing and administration network to provide a complete solution that automates every step of the term deposit life cycle.

“We are very pleased with the collaboration on this project,” said Pat Casullo, Strategic Accounts Manager with Portfolio+ Inc., who was heavily involved with this project and provided support until Duo Bank officially went live. “Duo Bank had an idea and knew what it wanted to do, and we had the software and skills to help them make their idea a reality.”

“We’re looking forward to the incredible opportunities that are ahead,” said Casullo. “Our entire team was very proud to see Duo Bank go live, and we’re looking forward to watching them grow.”

In addition to its industry-proven term deposit solution, Portfolio+ provides financial institutions with the technology to become a driving force in open banking. With fully documented APIs that offer secure, controlled access to creative developers, innovative startups, and imaginative FinTechs, the +Open Banking Platform provides financial institutions with a foundation for personalized, customer-centric digital banking experiences.

About Duo Bank of Canada

Duo Bank is a Canadian Bank founded on a mission to provide value-driven financial products that are clear and simple, to help Canadians focus on what matters to them. Duo Bank specializes in turnkey and customizable financial services solutions designed to deepen customer loyalty and grow sales. The growing complement of products and services includes credit card, rewards and related protection services. With a value-driven approach to financial services, robust sales channels and innovative and efficient operational solutions, Duo Bank partners with industry leading service providers to deliver the next generation of financial solutions.

Visit Duo Bank of Canada

About Portfolio+ Inc.

Portfolio+ Inc. connects financial institutions with customers and partners using innovative technologies. Its software solutions and open banking technology are used by financial institutions in Canada, Ireland, and the UK. With its powerful +Open Banking Platform and fully documented APIs, Portfolio+ has the power to connect banks, credit unions, and financial institutions with an evolving ecosystem of financial services technology that is putting everyday customers in control of their financial data.

Located in the Greater Toronto Area (GTA), Portfolio+ is used by 6 of the 7 largest financial institutions in Canada and is a part of Volaris Group Inc.

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