Wealth Management Power Plays
This week saw something of a power play in the wealth management technology space, with banking platform provider Temenos's $101 million acquisition of Odyssey Financial Technologies.
The move provides Temenos with a considerable arsenal of products aimed at private banking and wealth management clients: the vendor's own T24 for Private Wealth, along with Odyssey's Triple'A Plus and WealthManager platforms.
The availability of all these applications under Temenos's umbrella may make a compelling offering for private banking and wealth management firms, provided the full weight of the firm's research and product development resources are brought to bear in order to maintain cutting-edge capabilities. Otherwise, clients will be faced with one less choice of application provider in a highly demanding technology space.
Stewart Eisenhart
Deputy Editor, Buy Side
Waters
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