Odyssey and Boss Lab are engaged in a strategic alliance to deploy Odyssey's Private Banking/Wealth Management solutions on an ASP (Application Service Provisioning) platform to one of Switzerland's leading institutions for private banking and asset management.
This key decision follows the Bank's strategy of strengthening its Private Banking capabilities.
In addition to the full Relationship Manager and Portfolio Manager Workstations, the Bank will also employ Odyssey's MailManager report distribution tool. Remote users will access the system via the Web User Interface, while local users will run the Windows-based GUI. Altogether, the system will be made available to several hundred users.
The completed solution will unite Marketing, Investment, Compliance, Portfolio and Client-Related data into one single solution. Relationship Managers and Asset Managers will therefore work directly on one single system, thereby streamlining workflows and ensuring data integrity throughout all operations.
Odyssey's front-office solution will be interfaced with the back-end platform provided by Boss Lab. A full front-to-back event-driven interface will be built, using a powerful combination of Odyssey's Gateway module and Boss Lab's Web Services. As Odyssey's ASP/BSP (Business Service Provisioning) Partner, Boss Lab will take the lead for the interfacing, IT infrastructure, and maintenance of the system once it is in production.
Odyssey and Boss Lab have signed a Letter of Intent to ensure maximum cooperation and premium services from the two companies. A strategic partnership agreement, focused on providing ASP and BSP services on the combined value proposition of Odyssey and Boss Lab, will be signed by the end of Q1 2005.