Hitachi Vantara (Hitachi) Case Studies Portfolio+ Accelerates Open Banking Services with Cloud Migration

	Portfolio+ Accelerates Open Banking Services with Cloud Migration Hitachi Vantara (Hitachi)

Portfolio+ Accelerates Open Banking Services with Cloud Migration

Hitachi Vantara (Hitachi)

Technology Category	Analytics & Modeling - Machine Learning Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Finance & Insurance Transportation
Applicable Functions	Logistics & Transportation Product Research & Development
Use Cases	Demand Planning & Forecasting Last Mile Delivery
Services	Cloud Planning, Design & Implementation Services System Integration
Challenge	Portfolio+ is a leading player in the open banking movement in Canada, offering advanced technology, a secure API, and a proven core banking platform. As the company continues to evolve alongside the largest financial institutions in Canada, it must continually innovate to stay ahead of customer expectations. With open banking rapidly increasing in popularity, Portfolio+ needed to provide scalable, fully managed cloud services to meet customer demand. Initially, Portfolio+ planned to migrate to the cloud over three to five years, gradually upskilling its teams and experimenting. However, in 2019, it recognized the need to accelerate its plans to stay competitive. Read More
About Customer	Portfolio+ is a pioneer in the open banking movement in Canada. It offers advanced technology, a secure API, and a proven core banking platform. The company is continually evolving with the largest financial institutions in Canada, constantly innovating to stay ahead of customer expectations. Portfolio+ serves a rapidly growing customer base that is moving towards a hybrid or cloud approach for their banking systems. To meet this demand, Portfolio+ has expedited its own cloud strategy, aiming to provide scalable, fully managed cloud services. Read More
Solution	To achieve its cloud ambitions, Portfolio+ partnered with Hitachi Vantara in early 2021, leveraging its experience in the Canadian financial services industry. The partnership also benefited from Hitachi Vantara's relationships with key cloud providers and its 'swim together' approach to building what’s next while simultaneously upskilling existing resources. After considering numerous factors, including development, security, operational processes, and internal skillsets, Portfolio+ and Hitachi Vantara designed a cloud-agnostic solution currently supported on AWS. The solution’s core capabilities extend to additional cloud platforms based on customer need. Hitachi Vantara also helped Portfolio+ establish DevOps best practices, automate the delivery of its banking software, and provide a PCI and SOC2 compliant managed service offering to customers. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Machine Learning

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Finance & Insurance

Transportation

Applicable Functions

Logistics & Transportation

Product Research & Development

Use Cases

Demand Planning & Forecasting

Last Mile Delivery

Services

Cloud Planning, Design & Implementation Services

System Integration

Challenge

Portfolio+ is a leading player in the open banking movement in Canada, offering advanced technology, a secure API, and a proven core banking platform. As the company continues to evolve alongside the largest financial institutions in Canada, it must continually innovate to stay ahead of customer expectations. With open banking rapidly increasing in popularity, Portfolio+ needed to provide scalable, fully managed cloud services to meet customer demand. Initially, Portfolio+ planned to migrate to the cloud over three to five years, gradually upskilling its teams and experimenting. However, in 2019, it recognized the need to accelerate its plans to stay competitive.

About Customer

Portfolio+ is a pioneer in the open banking movement in Canada. It offers advanced technology, a secure API, and a proven core banking platform. The company is continually evolving with the largest financial institutions in Canada, constantly innovating to stay ahead of customer expectations. Portfolio+ serves a rapidly growing customer base that is moving towards a hybrid or cloud approach for their banking systems. To meet this demand, Portfolio+ has expedited its own cloud strategy, aiming to provide scalable, fully managed cloud services.

Solution

To achieve its cloud ambitions, Portfolio+ partnered with Hitachi Vantara in early 2021, leveraging its experience in the Canadian financial services industry. The partnership also benefited from Hitachi Vantara's relationships with key cloud providers and its 'swim together' approach to building what’s next while simultaneously upskilling existing resources. After considering numerous factors, including development, security, operational processes, and internal skillsets, Portfolio+ and Hitachi Vantara designed a cloud-agnostic solution currently supported on AWS. The solution’s core capabilities extend to additional cloud platforms based on customer need. Hitachi Vantara also helped Portfolio+ establish DevOps best practices, automate the delivery of its banking software, and provide a PCI and SOC2 compliant managed service offering to customers.

Impact #1	With the core foundation now in place, Portfolio+ has shifted its focus to providing a richer customer experience and extending the platform to meet the demands of their customers. They are also focusing on providing greater flexibility and options for integration with existing customer cloud strategies and adoption. With its new platform, Portfolio+ will be able to keep up with demand from its financial services clients for reliable, cloud-native open banking solutions. The company is on track to go live with its cloud-based suite of open banking applications in 2021.

Impact #1

With the core foundation now in place, Portfolio+ has shifted its focus to providing a richer customer experience and extending the platform to meet the demands of their customers. They are also focusing on providing greater flexibility and options for integration with existing customer cloud strategies and adoption. With its new platform, Portfolio+ will be able to keep up with demand from its financial services clients for reliable, cloud-native open banking solutions. The company is on track to go live with its cloud-based suite of open banking applications in 2021.

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Overview

Portfolio+ Accelerates Open Banking Services with Cloud Migration

Operational Impact