Wealth and asset management systems specialist Odyssey is stepping up its focus on the enterprise data management systems marketplace, having recognised that the EDM capabilities it has created to support the implementation of its core applications are of value as a standalone solution. When Odyssey, which was founded in Luxembourg in 1995 and has its head office in Switzerland, started its US operations in 2004 the first sales it made were for its EDM solution. Since then it has been quietly building momentum behind its EDM offering and intends to market the solution more vigorously going forward.
The Odyssey EDM offering – which is pitched as being suitable for use by tier one firms – has its origins in the flexible, customisable data model that has been underpinning its wealth management solution (the vendor has also branched out from the private banking space into supporting banks targeting the mass affluent, as well as into the institutional asset management world). In addition, it has also added data loaders and quality control capabilities from within the solutions it brought into its stable through its acquisition of Market Data Systems in 2001.
In terms of differentiators between the Odyssey EDM offering and other EDM systems on the market, a major one is that the vendor can also offer its traditional front office tools, it says, layering portfolio management and relationship management functions on top of the EDM capability. Additionally, because the solution is based on a front office data model, it also covers positions and transactions as well as reference data.