Odyssey EDM Solution Offers Unrivalled Enterprise-Wide Coverage
for Efficient and Cost Effective Data Management
Odyssey, a global provider of private wealth and asset management solutions
and services, today announced plans to rollout its centralised and customisable
Enterprise Data Management (EDM) solution to tier one financial institutions
and small to medium sized organisations across the wealth and asset
management sectors. As part of its EDM development Odyssey has strengthened
its EDM team with the appointment of senior industry specialists to
support its global network of offices.
Odyssey’s EDM solution provides referential data centralisation,
administration and distribution. It consolidates data administration
into a single solution that acts as a data hub for existing and new
applications, enabling more efficient use of proprietary and third party
data and significantly reducing data management costs.
Odyssey’s EDM solution centralises the data collection and administration
of common and duplicated data such as instrument, business entity and
infrastructure data.
Mario Orphanou, product
manager, Odyssey, comments: “Odyssey’s EDM solution offers
more than reference data management. Leveraging off Odyssey’s
heritage in wealth management solutions, it captures a much wider range
of data than standard EDM systems and provides integration to off-the-shelf
wealth management business components. This holistic approach means
customers can benefit from implementing the solution either as part
of a best-of-breed integrated system or as a single standalone platform.
Financial institutions are able to deliver high quality data to front
office business functions more rapidly and achieve a quicker return
on investment.”
The Odyssey EDM solution reduces risk by improving data quality through
more efficient processes, ensuring organisations’ systems all
use the same data and reducing reconciliation issues. With sophisticated
client reporting tools it also allows financial institutions to meet
regulatory obligations including the transaction reporting requirements
of the Markets in Financial Instruments Directive (MiFID).
Antoine Duchateau, chairman
& chief executive officer, Odyssey adds: “As data volumes
explode, financial institutions are realising they need to move away
from disparate and inefficient procedures and are investing in EDM solutions
that offer effective data management. Odyssey has developed a highly-customisable
EDM solution that offers unparalleled enterprise-wide, integrated coverage.
Having successfully implemented the EDM solution with a number of Odyssey’s
existing clients and with our expanded EDM team, we are now in a strong
position to take our offering to the wider market.”
Odyssey’s EDM solution enables financial institutions to build
a completely bespoke application and define workflow, rules and visuals.
It is also available as an out-of-the-box windows-based platform for
smaller organisations.
Odyssey will be available to demonstrate its EDM solution at
stand 29 during FIMA 2007 at the Olympia Exhibition Centre on November
6 and 7.
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6 Nov 2007