| Open Banking Interface

SIT Announces Open Banking Interface for Portfolio Plus

Toronto, Canada – October 28, 2008: Strategic Information Technology Limited (“SIT”) is pleased to announce that it has announced an open core banking interface to enable third party programs to leverage rich banking functionally that includes loans, investments, retail banking, and term deposits.

"We believe we’re the first banking software company to deliver an open core banking interface,” said G. Robert Leeming, President of SIT. “We’ve been working very hard, with our business partners to refine our approach over the last ten years and I’m very glad to see this day has finally arrived.”

Using common industry protocols like Java Messaging Service (JMS), the Portfolio Plus Open Banking Interface can be accessed by common technology interfaces like .net, PHP, Ruby on Rails, PHP, C++, WebSphere, and more.

“Without the Portfolio Plus Open Banking Interface I don’t know how we could have created a peer to peer banking platform that also met our user interface goals,” said Colin Henderson, Chief Marketing Officer at CommunityLend. “We have tremendous flexibility and power. We leverage the flexibility of the Ruby on Rails development platform and the power of Portfolio Plus core banking.”

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 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 banks and non-banks to offer web banking, loans, loan securitization, investments, term deposits, wealth management, retail, ATM/POS switch interfaces for debit/credit or loyalty products, leasing, Equifax and Trans Union credit bureau interfaces, registered investment products, and much more. Portfolio Plus can also be tailored, on request, to meet specific customer requirements.

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, please contact:

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 April 24, 2017 @ 10:26:24
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
The page subject is: Open Banking Interface