Odyssey has formed a new global partnership to offer a new component on its wealth management platform.

Odyssey Financial Technologies and Redi2 Technologies have formed a new global partnership to offer Redi2 Revenue Manager as the fee billing and revenue billing component of Odyssey’s wealth management platform. The companies said in a statement that the new partnership rounds out Odyssey’s offering with an automated solution that easily handles complex fee billing calculations and invoice generation. Odyssey has been searching for a more robust fee billing solution to handle rapid growth and complexity of fee billing in the financial services industry, such as the unified managed accounts market segment. “After careful research, Odyssey found Redi2 Revenue Manager to be a flexible and functionally advanced component to complement our widely deployed portfolio management platform,” said Walter Makarucha, Odyssey’s managing director in its business solutions arm. “This partnership supports our strategy to provide the most complete wealth management platform to the UMA marketplace in North America,” Mr Makarucha said. Under the new licensing and reseller agreements, Odyssey will initially offer Redi2 Revenue Manager to North American clients. The next phase will be 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.