January 18, 2007 at 03:27 AM EST
Andbanc, Andorra Banc Agricol Reig S.A.:Live with Odyssey's Portfolio Manager Workstation
Andorra Bank Agricol Reig S.A., "Andbanc" Andorra's first privately owned bank, founded in 1930, has successfully gone live with Odyssey's Portfolio Manager Workstation solution to support their Private Banking business. Portfolio and Relationship Managers, as well as Middle Office staff, are now benefiting from the leading edge front-office system that includes an interface to the bank's Olympic back-office system. The advanced Portfolio Management & Analysis functionality of the Portfolio Manager Workstation has been customised and linked to Client Data security. Private Banking Reports have been adapted and improved to fulfil evolving client requirements.
The next phase of the project will be the implementation of automatic order generation with an automated front to back office dataflow, as well as further components to provide Relationship Managers with advisory functions such as Client Data Management, Client Contact Management and preparation of financial proposals to customers.
Carles Ransanz, Andbanc's Deputy General Manager Organisation & Systems says: "After analysing our private banking needs with our Relationship Managers, we looked for the best option in terms of functionality, integration and execution time. We wanted a system that would give us the lead in Private Banking."
"Odyssey was able to show that their outlook reflects the banking world and is therefore a perfect bridge for advancing in technological and functional terms. I have no doubt that a company with the same vision as the Private Banking client and the capacity to adapt to new times is the right choice."
Odyssey has recently opened an office in Madrid and is recruiting a locally based team as to service the growing local market requirement for internationally proven wealth management solutions. The commitment to this market is a natural step for Odyssey in view of the rapidly growing wealth management activity in Spain, Portugal, and Andorra.
Guillaume Guerin, Odyssey's Area Manager for Spain and Portugal, says: "The successful implementation of our solution at Andbanc represents the first key step in our strategy to penetrate the very promising Iberian Peninsula and Andorra markets. The combination of Andbanc's expertise and Odyssey's solutions will certainly bring added value to the bank and its customers. Andbanc will be able to improve its efficiency and service quality to the full benefits of its customers and shareholders."
Andbanc, a global bank with its head office in Andorra and a subsidiary in Nassau, is the result of an alliance between two banks with Andorran capital. The partnership between Banca Reig and Banc Agricol, which formed Andbanc, transformed the Andorran economic scene and supported the fundamental objective of strengthening the economic policy of the country: face the challenges of globalisation and competition from international capital by combining the resources and wealth management experience of two banks.
The independence and resolution that came with this partnership allowed Andbanc to provide a range of services backed by tradition and experience that guarantee growth and a perfect adaptation to the challenges of the time. For further information, please visit: http://www.andbanc.com.
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 Madrid. 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.
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