UK-based Lloyds TSB is implementing portfolio rebalancing and order management technology from Odyssey Financial Technologies to underpin a new Web-based investment management platform.
The new platform is to be rolled out at the bank's private banking operations with a view to streamlining the current portfolio rebalancing process and cutting costs and errors through automated STP.
John Tyley, operations director, UK wealth management, Lloyds TSB, comments: "We will benefit from Odyssey's technology which has been proven as successful in many other clients, and from the existing configurable browser front-end, allowing us to save on time to market, facilitate our portfolio and strategy management and help in fulfilling MiFID requirements."
Implementation of the technology has started and the main portfolio rebalancing functionality is expected to be available during 2007.