To accommodate the rapid growth and complexity of fee billing in the financial services industry, such as the unified managed accounts (UMA) market segment, Odyssey began searching for a more robust fee billing solution in early 2007.
âAfter careful research, Odyssey found Redi2 Revenue Manager to be a flexible and functionally advanced component to complement our widely deployed portfolio management platform,â notes Walter Makarucha, Odyssey Managing Director of Business Solutions Development â North America. âThis partnership supports our strategy to provide the most complete wealth management platform to the UMA marketplace in North America.â
Under the new licensing and reseller agreements, Odyssey will initially offer Redi2 Revenue Manager to its North American clients. The next phase of the relationship is expected to target Odysseyâs European client base, which includes more than 180 financial institutions in 30 countries and 15 of the top 25 European banks. Redi2 has begun integration and testing, and the first joint installation went into production in December 2007.
âWith a strong European client base and a growing presence in North America, Odyssey was seeking to forge a formal relationship with a US-based firm to extend its capabilities and global presence,â says Seth Johnson, CEO of Redi2 Technologies. âWe look forward to helping Odyssey deliver superior fee billing and revenue management functionality to strengthen their client relationships, both here and abroad.â