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CSRS Interface

CSRS Interface for Portfolio Plus

Stouffville, Canada – January 18, 2010: Strategic Information Technology Limited (“SIT”), a banking software company, is pleased to announce the beta availability of Canadian Securities Registration System (CSRS) interface for Portfolio Plus.

“In addition to a reduction of errors from re-keying, we estimate we’ll save between 50 and 60 person hours per month immediately, increasing over time with volume and potentially doubling when discharges take effect.”, says Gord Mooney, Chief Operating Officer of General Bank. “That’s a 100% productivity improvement over the old way of doing things.”

The Canadian Securities and Registration System, now owned by Davis + Henderson, allows the registration of liens against motor vehicles, snowmobiles, company assets, motor homes, inventory, mobile homes on leased lots, farm equipment and more. There are two basic categories for personal property liens: Collateral with Serial Numbers or General Collateral.

“Our mission statement is ‘to enhance the performance of our business partners’ and we look for every opportunity to do that,” says G. Robert Leeming, President of SIT. “Our newly announced CSRS interface can help financial institutions enhance their performance by dramatically reducing the costs associated with managing car loans.”

Portfolio Plus enables banks, trust companies, virtual banks, credit unions, and other financial organizations to implement their own flavour of banking to capture the best possible market advantage. Portfolio Plus, with its Plug-In BankingTM architecture, enables financial organizations to add functionality as they require it, making it one of the most versatile solutions in the market.

About General Bank

Located in Edmonton, Alberta, General Bank of Canada is owned by Firstcan Management Inc, a privately held company with diverse interests related to the automotive industry. The incorporation of a bank further expands the financial services of the group which currently includes a regulated life and disability insurance provider, First Canadian Insurance Corporation, and a property and casualty company, Millennium Insurance Corporation. General Bank of Canada was the first private company in Canada to be issued a banking charter.

About Strategic Information Technology Limited

SIT, formed in 1988, develops and markets Portfolio Plus, an extensible banking system that enables customers to plug-in new functionality as required. This is accomplished via SIT's unique Plug-In BankingTM architecture and a Financial Services BusTM that extends Portfolio Plus functionality to other corporate applications. SIT's banking software enables credit unions, banks, trust companies and building societies to offer web banking, loans, loan securitization, investments, term deposits, wealth management, retail, ATM/POS switch interfaces for debit cards, leasing, and credit bureau interfaces. Portfolio Plus can also be tailored, on request, to meet specific customer requirements.

SIT can be reached at (http://www.stratinfotech.com) or by phone at 905-640-0808.

Portfolio Plus, Plug-In Banking and Financial Services Bus are trademarks or registered trademarks of SIT in the U.S., Canada and other countries. Any other trademarks or service marks contained herein are the property of their respective owners.

For more information:
Patrick Lannigan
Strategic Information Technology
Telephone: 905-640-0808 x356
Email: patrickl@stratinfotech.com

 

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This page was created or refreshed on November 10, 2017 @ 13:55:47
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
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