Portfolio+ Launches GIC Connect to Modernize GIC Processing for Canadian Financial Institutions
New solution supports automated nominee-name GIC workflows, improves operational visibility, and enables real-time processing, while integrating with existing technology environments/systems.
Portfolio+, a leader in Canadian banking technology, today announced the launch of Portfolio+ GIC Connect, a new solution designed to modernize how Canadian financial institutions manage nominee-name Guaranteed Investment Certificate (GIC) processing.
Built for brokered deposit ecosystem, including institutions operating through the CANNEX network, GIC Connect streamlines submission, validation, processing, and confirmation into a coordinated, automated workflow. The solution helps financial institutions reduce manual effort, improve operational visibility, strengthen control, and scale processing volumes without increasing operational complexity or compromising regulatory oversight.
GIC operations may involve batch processing, file transfers, and manual intervention. As volumes and operational demands increase, fragmented workflows can contribute to delays, reduced visibility, and operational risk. GIC Connect is designed to address these challenges through connected, real-time or near real-time processing across the GIC lifecycle.
“Financial institutions are under increasing pressure to do more with existing resources while maintaining the governance, control, and reliability that regulated environments demand,” said Alejandra Sarmiento, Chief Operations Officer of Portfolio+. “GIC Connect helps organizations modernize one of the most operationally intensive areas of deposit processing by reducing manual work, improving visibility, and creating a more connected experience across the GIC lifecycle. It represents an important step in our commitment to helping clients automate operations without sacrificing oversight or control.”
Key capabilities of Portfolio+ GIC Connect include:
- Automated onboarding, validation, processing, and confirmation workflows
- Real-time or near real-time execution and status visibility
- Centralized operational oversight and exception management
- Features designed to support auditability, validation, and operational control
- Built-in reporting capabilities designed to support applicable CDIC data requirements
- Integration with brokered deposit workflows, including the CANNEX GIC Exchange
- Architecture designed to support increased deposit volumes
Portfolio+ developed GIC Connect as part of its broader vision to help financial institutions modernize operations through intelligent automation and connected processing experiences.
“GIC Connect gives institutions a practical path to improve nominee-name GIC processing within their existing technology environments,” said Anna Fiorino, Head of Product & Technology, Portfolio+. “Its connected workflow, automated validation, status visibility, and exception management capabilities are designed to support greater efficiency and control while reducing the need for extensive infrastructure change.”
Portfolio+ GIC Connect is available immediately.
About Portfolio+
Portfolio+ is a Canadian provider of financial technology solutions focused on enabling a more inclusive and accessible financial marketplace for Canadians. By supporting deposit, lending, and investment operations, Portfolio+ helps financial institutions deliver innovative solutions that better serve their customers and communities.
Portfolio+ works with regulated and unregulated financial institutions across Canada to design and manage financial products, streamline servicing, and integrate with existing banking infrastructure.
Portfolio+ is part of Vencora, a division of Constellation Software Inc. (TSX: CSU).
Source : Portfolio+ Inc.
