22-Aug-06
Thailand - 22nd August 2006 - Odyssey Asset Management Systems (Odyssey), a leading provider of wealth management solutions to financial institutions, today announced that Siam Commercial Bank (SCB) has selected Odyssey’s Portfolio Manager Workstation solution for its Private Banking business in Thailand. SCB was the first Thai bank and was ranked Best Bank in Thailand by Euromoney, Asiamoney and Finance Asia in 2006. BusinessWeek magazine has listed SCB in the top 150 Leading Asian Companies, the only commercial bank in southeast Asia to make the list.
The new workstation will support SCB portfolio counselors’ tasks with sophisticated financial analytical tools, real-time portfolio valuation, flexible portfolio modeling and rebalancing, as well as performance attribution functions.
SCB recently launched its Private Banking business in Thailand and Odyssey’s solution will be used to underpin Siam Commercial Bank’s expansion in providing the wealth management services to high net worth individuals. The concept of SCB Private Banking business is essentially client-oriented –so-called client-centric– to which the development and offering of investment choices strongly adhere. The solution by Odyssey will help analyse clients’ portfolios at a very advanced level, creating some highly effective investment advisory services at the bank in lieu of higher business growth.
The bank’s decision in favour of Odyssey’s solution emerged following its meticulous selection process. “Odyssey’s Portfolio Manager Workstation solution was chosen for its features which were aptly compatible with the SCB Private Banking business. We considered other leading providers’ solutions, but we found that Odyssey’s solution was the best in terms of business specialization, efficiency and reliability. The solution has widely been used by several leading European financial institutions with a reputation for wealth management. Thanks to Odyssey’s Portfolio Manager Workstation solution, our bank is set to provide state-of-the-art wealth management services with its SCB Private Banking business being second to none in the country in view of clients’ highest satisfaction,” said Arunrat Bovornvirakit, Head of the Private Banking Group at SCB.
“We are pleased that Siam Commercial Bank has chosen our solution after conducting a comprehensive search for a best-of-breed portfolio management and reporting solution,” said Dave White, General Manager Asia Pacific and Middle East of Odyssey. “The signing of Siam Commercial Bank marks our entry into Thailand and is another milestone in Odyssey’s growth in the Asia Pacific region. We are now recognised as a market-leading solutions provider to the private banking space in Asia and our services team in Asia has tripled in size in the last 2 years in tandem with the tremendous growth in this region."
About Siam Commercial Bank
Siam Commercial Bank PCL is a major universal banking group in Thailand that provides its clients with a wide array of financial products and services that are delivered directly by the bank itself or through one of its group or affiliated companies. It has the aim to become ‘the Premier Universal Bank in Thailand’.
The bank was established in 1906. Today it serves clients in all segments in the Thailand’s financial market and ranks as the third largest bank by assets. SCB has always maintained a leading stance as the pioneer and leader in banking technologies to provide the best services in response of its clients’ needs. It was the first bank to introduce ATM, Internet Banking and Mobile Banking in Thailand. Currently, its services network is the largest among local financial institutions with 733 Branches, 41 Business Centers, 38 International Trade Service Centers, 122 FX Kiosks and 3,179 ATMs nation-wide (as in June 2006).
Gery Dachlan
Tel: +65 6511 6378
email: gdachlan@odyssey-group.com
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