Portfolio+ Empowers Equitable Bank with Digital Lending API

Portfolio+ Empowers Equitable Bank with Cutting-Edge API Solutions to Improve the Lending Journey for Customers and Employees

Portfolio+, a leader in financial technology solutions, proudly announces the successful deployment of its application programming interface (API) for for Equitable Bank’s Loan Origination System (LOS), “EQ Genesis.” The innovative digital lending API and integration provides Equitable Bank, Canada’s Challenger Bank™ and seventh largest bank by assets, with forward-thinking technology that enhances its digital banking services and provides a faster, seamless experience for its customers and employees by reducing the time it takes to approve and fund customer loans.

“We are jointly committed to making banking more convenient for customers while also providing a more engaging employee experience by optimizing their workflow with new technology. Portfolio+’s lending API integration into our EQ Genesis platform is instrumental in achieving this goal,” said Dan Broten, Chief Technology Officer of Equitable Bank. “With these tools, we can streamline lending processes, speed up loan approvals and ultimately deliver more of the world-class experiences that customers and employees have come to expect from Canada’s Challenger Bank.”

The powerful new API securely connects Equitable Bank’s existing lending system with a modern, cloud-based LOS, providing a smoother, user-friendly experience for the bank’s underwriters. The integration simplifies the entire lending process including origination, underwriting, approval and funding, which will ultimately lead to faster turnaround times for customers.

“Equitable Bank’s drive to relentlessly improve the banking experience for customers and create a more intuitive and smooth experience for employees aligns with our mission to deliver innovative solutions in Canadian financial services,” said Dianne Cupples, CEO of Portfolio+. “Our lending API ensures that customer data is shared securely, and the integrations you can create with this type of technology are about creating better experiences—both for lenders and for their customers.”

Equitable Bank, Canada’s seventh largest bank by assets, additionally uses the technology to improve file access and automate workflows by integrating platforms, resulting in more streamlined processes for employees and powerful scale.

The API-based lending solution underscores Portfolio+’s dedication to driving advancements in the financial services sector through both technological integrations and valuable industry partnerships that improve the banking experience in a more connected and responsive banking environment. The approach leads to better banking experiences for consumers, while fostering a more connected and responsive banking ecosystem.

About Equitable Bank

Equitable Bank has a clear mission to drive change in Canadian banking to enrich people’s lives. As Canada’s Challenger Bank™ and seventh largest bank by assets, it leverages technology to deliver exceptional personal and commercial banking experiences and services to over 639,000 customers and more than six million credit union members through its businesses. It is a wholly owned subsidiary of EQB Inc. (TSX: EQB and EQB.PR.C), a leading digital financial services company with $123 billion in combined assets under management and administration (as at April 30, 2024). Through its digital EQ Bank platform (eqbank.ca), its customers have named it one of the top banks in Canada on the Forbes World’s Best Banks list since 2021.

To learn more, please visit eqb.investorroom.com or connect with us on LinkedIn.

Media contact:
Maggie Hall
Director, PR & Communications

About Portfolio+ Inc.

Portfolio+ banking systems and technologies connect financial institutions with fintechs and industry partners, offering a trusted platform for revolutionary banking experiences. Its powerful cloud-native core banking system and RESTful API offer a flexible foundation for secure open finance integrations and some of the industry’s most innovative Banking-as-a-Service solutions. Designed in Canada, Portfolio+ solutions are thoughtfully developed to support the evolving ecosystem of financial services technology and putting consumers 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, as well as Forbes’ best banks.

Portfolio+ Inc. is a part of Volaris Group Inc.

For more information, please visit portfolioplus.com.

*Based on TSE market capitalization figures retrieved in October 2023.

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