Lloyds TSB Chooses Odyssey as a Private Banking Front Office Platform
LONDON & LUXEMBOURG -- 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.
About Lloyds TSB Bank plc.
Lloyds TSB is one of the UK's largest financial services companies and is made up of three divisions: UK Retail Banking, Insurance & Investments (including the Scottish Widows brand) and Wholesale & International Banking. As at 31 December 2005, the Group had total assets of 103.9bn and generated total income of 5,118m.
Lloyds TSB's UK Retail Banking division provides banking, financial services, mortgages and private banking to some 15 million personal customers through its multi-channel distribution capability. It has some 3.7m internet banking customers, conducting c. 45m transactions per month online; 4.2m telephone banking customers and handled 69m calls last year.
In 2006, Lloyds TSB won its sixth Reader's Digest "Most Trusted Brand" award.
About Lloyds TSB Private Banking Ltd.
Lloyds TSB Private Banking manages or administers funds of more than 12bn for over 45,000 clients from a network of 28 offices throughout the UK. Lloyds TSB Private Banking services have been designed especially for clients with 250k or more of investable assets or an annual income of 250k or more.
Lloyds TSB Private Banking Limited is authorised and regulated by the Financial Services Authority and is a signatory to the Banking Codes.
Registered in England and Wales no.2019697. Registered office: 25 Gresham Street, London EC2V 7HN.
About Odyssey Financial Technologies
Odyssey is an industry leader in the global provision of private banking and wealth management solutions and services. Odyssey leads the field in wealth management automation in Europe: of the top 25 European banks, 15 are Odyssey customers. More than 180 financial institutions in 29 countries have chosen Odyssey solutions. Odyssey focuses on providing a range of market-leading solutions to the financial community covering discretionary and advisory portfolio management, asset and wealth management, enterprise data and customer relationship management. Odyssey was founded in Luxembourg in 1995, and has grown steadily since. Today, Odyssey has offices in the key financial centres, including London, New York, Singapore, Zurich, Frankfurt, Brussels, Geneva and Luxembourg. Odyssey's operational head office and main development centre is located in Lausanne, Switzerland. Throughout this network Odyssey employs over 350 professionals. For further information, please visit: http://www.odyssey-group.com.
Contacts
Odyssey Financial Technologies
Kristine Solf, + 352 42 60 80 1
fax. + 352 42 91 92
http://www.odyssey-group.com
info@odyssey-group.com
"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.
About Lloyds TSB Bank plc.
Lloyds TSB is one of the UK's largest financial services companies and is made up of three divisions: UK Retail Banking, Insurance & Investments (including the Scottish Widows brand) and Wholesale & International Banking. As at 31 December 2005, the Group had total assets of 103.9bn and generated total income of 5,118m.
Lloyds TSB's UK Retail Banking division provides banking, financial services, mortgages and private banking to some 15 million personal customers through its multi-channel distribution capability. It has some 3.7m internet banking customers, conducting c. 45m transactions per month online; 4.2m telephone banking customers and handled 69m calls last year.
In 2006, Lloyds TSB won its sixth Reader's Digest "Most Trusted Brand" award.
About Lloyds TSB Private Banking Ltd.
Lloyds TSB Private Banking manages or administers funds of more than 12bn for over 45,000 clients from a network of 28 offices throughout the UK. Lloyds TSB Private Banking services have been designed especially for clients with 250k or more of investable assets or an annual income of 250k or more.
Lloyds TSB Private Banking Limited is authorised and regulated by the Financial Services Authority and is a signatory to the Banking Codes.
Registered in England and Wales no.2019697. Registered office: 25 Gresham Street, London EC2V 7HN.
About Odyssey Financial Technologies
Odyssey is an industry leader in the global provision of private banking and wealth management solutions and services. Odyssey leads the field in wealth management automation in Europe: of the top 25 European banks, 15 are Odyssey customers. More than 180 financial institutions in 29 countries have chosen Odyssey solutions. Odyssey focuses on providing a range of market-leading solutions to the financial community covering discretionary and advisory portfolio management, asset and wealth management, enterprise data and customer relationship management. Odyssey was founded in Luxembourg in 1995, and has grown steadily since. Today, Odyssey has offices in the key financial centres, including London, New York, Singapore, Zurich, Frankfurt, Brussels, Geneva and Luxembourg. Odyssey's operational head office and main development centre is located in Lausanne, Switzerland. Throughout this network Odyssey employs over 350 professionals. For further information, please visit: http://www.odyssey-group.com.
Contacts
Odyssey Financial Technologies
Kristine Solf, + 352 42 60 80 1
fax. + 352 42 91 92
http://www.odyssey-group.com
info@odyssey-group.com
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