Odyssey Financial Technologies, the leading provider of private banking & wealth management software solutions, today announced the acquisition of CAfIT, a leading specialist provider of Fixed Income, Derivatives & Balanced Fund solutions for global asset management institutions.
Odyssey’s acquisition of CAfIT considerably reinforces Odyssey’s solution set for asset management. It positions Odyssey as the leading vendor of a single front/mid-office systems platform applicable throughout the entire investment and wealth management sector. Odyssey will now be able to service an increasing number of asset management organisations globally by leveraging the combined strength of the existing and acquired business, providing further growth opportunities. Additionally, this acquisition allows Odyssey to strengthen its position considerably and better serve the requirements of the Institutional and Funds markets.
The CAfIT product set will continue to be available as a stand-alone solution to institutional asset management organisations, and the new functional coverage will be integrated into the Odyssey “Wealth & Asset Management Platform” and will be made available to existing Odyssey customers as add-on components.
Antoine Duchateau, CEO of Odyssey says: “CAfIT’s acquisition gives us the possibility to offer a wider and more sophisticated range of functionalities to our customers. Evolved functions such as decision support, sophisticated solutions for risk and complex performance attribution as well as full instrument coverage are especially relevant for our existing Asset Management customers but also increasingly applicable across the Private Banking and Wealth Management sectors.”
“By acquiring CAfIT, Odyssey is extending its market-leading position as a
private banking and wealth management solutions provider into the institutional
asset management area. This will allow us not only to provide a market-leading front-office solution to this sector, but also provide sophisticated decision support, analytics, risk, and performance attribution components to existing customers of Odyssey’s portfolio management solution.”
Raquel Elias, CAfIT’s Commercial Managing Director says: “This is an exciting move for CAfIT and we are delighted to become part of Odyssey Financial Technologies. Our existing customers will without doubt benefit from the combined strength of the Odyssey and CAfIT Research and Development teams, matched by Odyssey’s corporate strength and extensive global support network. The combination of Odyssey’s product range and the proven CAfIT solution creates a powerful new Front Office solution set for portfolio management, enabling us to reach out to new markets, as well as improving the service to our existing customer base.”
CAfIT’s customers will also have the opportunity to take advantage of a wider range of investment management solutions available through Odyssey Components and the market-leading Relationship Manager and Portfolio Manager Workstations, including workflow integration and enterprise data management.
Odyssey’s existing asset management customers will be able to benefit from new and more sophisticated portfolio management functions, and the customer base as a whole will have access to advanced features that are increasingly being implemented in the wealth management industry.
Odyssey’s solutions provide the wealth management technology market with a unique degree of functionality: its components can be deployed on a single scalable platform in a wide range of combinations to address the challenges and business goals of leading global companies and regional financial institutions. CAfIT has been providing advanced software solutions to leading international asset management institutions for over 7 years and more recently to the specialist and alternative investment markets, principally in the UK. With the acquisition of CAfIT, Odyssey is focusing on new opportunities for increased scale & global reach.