| HomEquity Bank Goes Live

HomEquity Bank Goes Live

HomEquity Bank Goes Live with Portfolio Plus 2010

Toronto, Ontario – November 2, 2009: Strategic Information Technology Limited (“SIT”) is pleased to announce that HomEquity Bank has gone live with Portfolio Plus 2010.

"The implementation of Portfolio Plus at HomEquity Bank was carried off without a hitch", said G. Robert Leeming, President of SIT, "and we look forward to helping them succeed in the broker deposit market".

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 HomEquity Bank

HomEquity Bank, a Schedule I Canadian Bank, is a wholly-owned subsidiary of HOMEQ Corporation. HomEquity Bank is the only national provider of reverse mortgages to Canadian seniors and it offers Guaranteed Investment Certificates to Canadian investors.

Reverse Mortgages

HomEquity Bank originates and administers Canada's largest portfolio of reverse mortgages under the CHIP Home Income Plan brand. HomEquity Bank's predecessor, Canadian Home Income Plan Corporation, has been the main underwriter of reverse mortgages in Canada since pioneering the concept in 1986.

The CHIP Home Income Plan is a solution to the financial needs of Canadians seniors (60 years +). It is a type of residential mortgage that permits qualifying homeowners to convert a portion of their home equity into cash on a tax-free basis while remaining in the home.

HomEquity Bank GICs

HomEquity Bank provides competitive Guaranteed Investment Certificates (GICs) to investors across Canada. These GICs are available through a network of independent deposit brokers.

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 and/or refreshed on June 26, 2017 @ 10:28:27
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
The page subject is: HomEquity Bank Goes Live