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Manjinder Jaul
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Lloyds TSB chooses Odyssey as a private banking front office platform

Odyssey Financial Technologies is delighted to announce that Lloyds TSB has chosen Odyssey’s solutions for the Investment Management front office of its Private Banking arm. Lloyds TSB has purchased Portfolio Rebalancing and Order Management components from Odyssey. The new components will form the basis for the Bank’s web-based Investment Management platform. These components will not only deliver greater efficiency but will also allow the bank to use further functionality from Odyssey in the future.

“We see Odyssey as a strategic partner in the development roadmap for the new Investment Management front office of our private banking environment. We will benefit from Odyssey’s technology which has been proven as successful in many other clients, and from the existing configurable browser front-end, allowing us to save on time to market, facilitate our portfolio and strategy management and help in fulfilling MiFID requirements”, says John Tyley, Operations Director, UK Wealth Management, Lloyds TSB.

“We are delighted to welcome a major UK Wealth Management player into the Odyssey user community. We look forward to working with the bank to implement this solution to achieve the benefits required. We look forward to a fruitful long term partnership with the Bank as they consolidate their position as a major player in the wealth management market in the UK “said Charlie Barrass, Chief Operating Officer of Odyssey Financial Technologies.

The new component facilitates automated rebalancing of portfolios against complex and flexible strategies. In addition to the order generation capabilities, comprehensive monitoring facilities ensure that users can track each order throughout its life cycle. The current portfolio rebalancing process will become more streamlined with reduced costs through automated STP thus allowing the Bank to reduce the potential for errors, while continuing to satisfy compliance requirements.

Implementation of the solution has started and the main Portfolio Rebalancing functionality is planned to be available during 2007.