Source: Odyssey Financial Technologies
Odyssey Financial Technologies, a global provider of Private Wealth, Separately Managed Accounts/Unified Managed Accounts, and Asset Management solutions and services, and Redi2 Technologies, a leading provider of sophisticated yet simple-to-use fee billing solutions for the global financial services industry, today announced a new global partnership to offer Redi2 Revenue Manager as the fee billing and revenue billing component of Odyssey's wealth management platform.
The new partnership rounds out Odyssey's offering with an automated solution that easily handles complex fee billing calculations and invoice generation.
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.
"After careful research, Odyssey found Redi2 Revenue Manager to be a flexible and functionally advanced component to complement our widely deployed portfolio management platform," notes Walter Makarucha, Odyssey's Managing Director - Business Solutions. "This partnership supports our strategy to provide the most complete wealth management platform to the UMA marketplace in North America."
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 Odyssey's 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.
"With 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," says Seth Johnson, CEO of Redi2 Technologies. "We look forward to helping Odyssey deliver superior fee billing and revenue management functionality to strengthen their client relationships, both here and abroad."