TORONTO, ON--(Marketwired - November 02, 2016) - International Financial Data Services (IFDS) Canada, a leading provider of technology and outsourcing services to the world's largest and most trusted financial institutions, today announced that it has been chosen by Equitable Bank, Canada's ninth largest independent Schedule I bank, to be the primary provider of a full range of service solutions for High-Interest Savings products.
"With its fully integrated platform, extensive experience, and deep in-house expertise, IFDS emerged as the best choice for Equitable Bank as we grow our brokered HISA market share," said Andrew Moor, President and CEO of Equitable Bank. "We look forward to working with them in the years to come as we continue to focus on helping Canadians reach their financial savings targets more quickly."
Equitable Bank will take advantage of IFDS' proprietary technology to provide record-keeping, transfer agency, and back office support services for their brokered High-Interest Savings Account solutions.
"We are delighted to have been chosen to support Equitable Bank's growth efforts," said Katherine MacMillan, President and CEO of IFDS Canada. "We believe we will be a valuable resource based on our track-record of success, experience in the savings space, and our knowledge of their broker business model."
International Financial Data Services is recognized as a world-leading provider of outsourcing and technology solutions to the financial services industry. IFDS services are provided to a wide range of global asset managers, wealth managers, platform providers, insurers, and life companies. Supporting more than 45 million investor and policy holder accounts for over 370 financial organizations across Asia-Pacific, Europe, and North America, the IFDS enterprise employs in excess of 8,000 experienced individuals located throughout Canada, Ireland, Luxembourg, the United Kingdom, and the U.S. IFDS is a 50/50 joint venture between Boston-based State Street Corporation, one of the world's leading providers of financial services to institutional investors, and Kansas City, Missouri-based DST Systems Inc., a leading provider of specialized technology, strategic advisory, and business operations outsourcing to the financial and healthcare industries. For more information, visit IFDS' web site at www.ifdsgroup.com.
About Equitable Bank
Equitable Bank is Canada's ninth largest independent Schedule I bank, serving Canadians coast to coast. It offers a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $17 billion in assets under management. Most recently, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 500 employees across the country, and was named one of Canada's Best Employers for 2016 by Aon. For more information, visit Equitable Bank's web site at www.equitablebank.ca.
Note to Editors: All figures in Canadian dollars.