Odyssey Financial Technologies, the Luxembourg-based financial services technology firm, has entered a partnership with IBM which will see the US giant’s analytics and data management capabilities integrated with Odyssey’s suite of WealthManager software applications.

Under the partnership, users of new Odyssey software will benefit from the integration of IBM’s WebSphere Application Server, WebSphere Transformation Extender, DB2 database and Cognos 8 Business Intelligence, Odyssey said in a statement. The firm also said it plans to optimise its software on the IBM Power platform later this year.

“The pairing of Odyssey’s WealthManager application along with IBM’s software, hardware and global services expertise, will give financial services firms access to the top wealth management platform powered by advanced technologies,” said Antoine Duchateau, chairman and chief executive of Odyssey Financial Technologies.

“Financial services firms are willing to invest in technology if it helps to cut costs, drive efficiency and create competitive advantage,” said June Yee Felix, general manager, banking and financial markets, IBM. “The combination of Odyssey and IBM technologies can help clients achieve these goals and drive more value out of their information assets in support of growth initiatives.”

Odyssey and IBM have been partners for more than five years now, developing their partnership across both software and hardware product lines.