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| Empowering Financial Institutions to Meet the Growing Demand for Reverse Mortgages TORONTO, April 16, 2024 /CNW/ - Portfolio+ Inc. (Portfolio+), a Canadian provider of financial services systems and technologies, announced today the release of its Portfolio+ reverse mortgage solution — an innovative addition to its comprehensive suite of lending products.
Portfolio+ Inc. releases a reverse mortgage solution for Canadian alternative lenders and financial institutions. Portfolio+ recognizes the notable growth of reverse mortgages over the past decade supported by an increasing number of seniors looking to leverage home equity as a retirement funding source. In December of 2022, the reverse mortgage industry was valued at approximately $15 billion, with a compounded annual growth rate (CAGR) of 8% over the previous five years. Analysts project this growth to continue, if not accelerate, with expectations of the market reaching upwards of $20 billion by 2025. The Portfolio+ reverse mortgage solution was designed to empower lenders to redefine retirement planning for their clients by allowing homeowners aged 55 and older to unlock the tax-free equity in their homes, while also strengthening the portfolio of services they offer. Key Features of the Portfolio+ reverse mortgage solution include:
"Portfolio+ is proud to introduce a product that not only addresses the pressing challenges in today's market, but also provides financial institutions with a tool to drive innovation and meet the evolving needs of their clients," said Dianne Cupples, CEO of Portfolio+ Inc. Learn More and Get Started Financial institutions interested in learning more about the Portfolio+ reverse mortgage solution are encouraged to speak with the team at Portfolio+ here. About Portfolio+ Inc. Portfolio+ banking systems and technologies connect financial institutions with fintechs and industry partners, offering a trusted platform for revolutionary banking experiences. Its powerful cloud-native core banking system and RESTful API offer a flexible foundation for secure open finance integrations and some of the industry's most innovative Banking-as-a-Service solutions. Designed in Canada, Portfolio+ solutions are thoughtfully developed to support the evolving ecosystem of financial services technology and putting consumers in control of their financial data. Located in the Greater Toronto Area (GTA), Portfolio+ is used by 5 of the 7* largest financial institutions in Canada, as well as Forbes' best banks. Portfolio+ Inc. is a part of Volaris Group Inc. For more information, please visit portfolioplus.com. *Based on TSE market capitalization figures retrieved in September 2020. SOURCE Portfolio+ Inc. 
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