Megasol Technologies announces release 2.5 of its OdysseySuite private banking application

Megasol Technologies announces the release of Version 2.5 of its OdysseySuite private banking system. This new release incorporates major documentary, compliance and messaging enhancements and powerful new accounting features.

Any label on any form displayed within OdysseySuite can by customised for local language idioms by holding down the Ctrl and Alt keys and clicking on the label. A system-wide document repository, DocSafeâ„¢, allows for scanning and/or upload of images and documents for attachment to client and account profiles, to individual general ledger or client transactions, and to other parts of the application as required. This features allows client identity and referential documents, payment instructions and other client correspondence, correspondent confirmations, payables invoices, trust and corporate documentation to be stored on-line for immediate review by authorised staff. Within OdysseyNet, the on-line banking option, secure messaging enhancements allow for targeting of messages from clients to back-office staff groups, for message broadcasts to clients, for upload of documents by clients as attachments to secure messages, for forwarding of messages and for logging the completion of message-related tasks. Message responses can be made public within a group or private between individuals.

New accounting features include (a) unlimited periodic fee templates in addition to the current, very flexible system of transaction-linked service charges, (b) attachment of source documents, either file-based or scanned, to posting transactions allowing for easier distributed departmental, branch and regional management of the posting process, (c) new posting Memo field allowing for an unlimited text description or notation on any transaction. (d) most parts of a transaction profile can now be locked to prevent editing by data-entry staff and defaults can be supplied for general ledger account number, description and amount, and (e) transactions can be grouped into common transaction sets to encompass repetitive or difficult accounting tasks and allow authorised but lesser experienced members of staff to initiate postings which otherwise they would not have the knowledge or experience to do, an extremely important factor in some of the offshore markets which OdysseySuite serves.

Version 2.5 is a powerful interim release designed to provide existing and new clients with those elements of the Version 3 major release which are available now. Version 3, to be released later in 2004, will build on this new functionality to bring new major modules into OdysseySuite.

Megasol Technologies is based in Uppsala, Sweden and serves an international clientele of private and offshore banks and other financial institutions, OdysseySuite is an application for the management of private banks requiring to conduct business, support merchant payments and hold client investments in multiple currencies or hard commodities such as platinum, gold or silver. OdysseyNet is the advanced on-line banking option of OdysseySuite.

OdysseySuiteâ„¢, OdysseySuite ComExâ„¢ and OdysseySuite Small Business Editionâ„¢ are available by on-site licence or ASP hosting through Megasol Technologies affiliates.

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