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Royal Bank of Canada (RBC)

RBC Moves Billions to Portfolio Plus

Toronto, ON, Canada – April 5, 2011: Strategic Information Technology Ltd. ("SIT") is pleased to announce that RBC, Canada's largest bank, has completed the conversion of billions of dollars’ worth of financial products to the Portfolio Plus banking software platform.

"We worked closely with RBC to ensure we had adequately planned for this conversion and I’m happy to say that the teams at RBC and SIT worked the plan flawlessly," said G. Robert Leeming, President of SIT. "We had two dry runs before the actual conversion and made incremental improvements after each. It was a pleasure working with the team at RBC."

SIT's Portfolio Plus banking software platform enables loan companies, banks, trust companies, credit unions, and other financial organizations to exploit an Open Banking Interface to interconnect de facto financial industry technologies to seize a market advantage.

About RBC

Royal Bank of Canada and its subsidiaries operate under the master brand name RBC. RBC is Canada's largest bank as measured by assets and market capitalization, and among the largest banks in the world, based on market capitalization. RBC is one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. RBC employs approximately 78,000 full- and part-time employees who serve close to 18 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 51 other countries.

About Strategic Information Technology Limited

SIT, formed in 1988, develops and markets Portfolio Plus, an extensible banking system that allows customers to plug-in new functionality as required. This is accomplished via SIT's unique Plug-In BankingTM architecture, an Open Banking InterfaceTM, and a Financial Services BusTM that extends Portfolio Plus functionality to other corporate applications. SIT's banking software empowers 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, and credit bureau interfaces. Portfolio Plus can also be tailored, on request, to meet specific customer requirements.

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

Portfolio Plus, Plug-In Banking, Open Banking Interface, 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.

Forward-Looking Statements

Forward-looking statements in this document are based on current expectations that are subject to risks and uncertainties. Actual results might differ materially due to various factors such as the competitive nature of the software industry, the ability of SIT to continue to execute its growth and development strategy, and the reliance of SIT on key personnel. SIT assumes no obligation to update forward-looking statements, or to update the reasons why actual results could differ from those that are projected.

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

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 September 14, 2017 @ 12:44:57
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
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