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.
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