Portfolio+ Launches Cloud-First Open Banking Finance Ecosystem in Canada

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Portfolio+ Inc. (Portfolio+) unveiled a robust cloud platform to help neo banks and fintech enterprises pivot to open banking in Canada. The foundational platform also serves as a catalyst to transform traditional banks and financial services firms into cloud-first enterprises capable of introducing innovative financial products and services.

“The launch of our advanced cloud platform provides the Canadian financial services industry with the digital glue to drive open banking,” said Dianne Cupples, CEO of Portfolio+ Inc. She added, “The ecosystem of global cloud service providers and experienced developers combined with the core banking expertise of  Portfolio+ drives seamless and secure consumer-centric banking experiences. Our team is proud to launch a world-class cloud framework in Canada. We are confident of incubating cutting-edge financial products and services that local fintechs can take to the rest of the world.”

The cloud platform of Portfolio+ provides a level playing field for small banks, credit unions and boutique payment service providers to join the open banking movement. Portfolio+ leverages application programming interface (API)-driven controls for providing secure access to innovative financial services, savings, budgeting, and investment tools, which helps incumbents as well as start-ups attract and retain digital consumers.

Our ecosystem approach unleashes open banking in Canada by deploying a flexible cloud architecture. Our scalable platform enables partners to develop new products / services and plug-in new features into existing offerings by leveraging proven APIs. Significantly, our longstanding partnerships with AWS Cloud, Microsoft Azure and Google Cloud help us navigate security, privacy and regulatory compliance needs during the cloud migration journey.

About Portfolio+ Inc.

Portfolio+ Inc. connects financial institutions with customers and partners using innovative technologies. Its core banking software solutions and open banking technology are used by financial institutions in Canada and the UK. With its powerful +Open Banking Platform and fully documented RESTful APIs, Portfolio+ has the power to connect banks, credit unions, and financial institutions with the 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 5 of the 7* largest financial institutions in Canada and is a part of Volaris Group Inc.

For more information, please visit portfolioplus.com.

*Based on TSE market capitalization figures retrieved in September 2020.

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