26-Apr-04
DAB bank AG, based in Munich and part of the HVB Group, has successfully started the roll-out of Odyssey’s Triple’A Portfolio Management Solution. The project started mid July 2003 and went into production in February 2004.
In an increasingly competitive market environment DAB bank has the aim of providing Independent Financial Advisors (IFA’s or ‘Mandanten’) and their clients with a comprehensive and innovative service offering. By implementing Triple’A DAB bank can now also deliver extensive, in-depth and fully integrated investment management support services, soon ranging from STP order processing through to all aspects of professional portfolio management services including high quality reporting, portfolio modelling, compliance controlling, automatic order routing and performance measurement and analysis.
With Triple’A DAB bank now offers a powerful and completely serviced state-of-the-art portfolio management front-end solution supporting the IFA’s discretionary and advisory asset management activities in a competitive and efficient way. DAB’s professional clients can now access Triple’A easily any time, anywhere through a fully secured remote web connection. From customer management and acquisition to professional portfolio management and quick and convenient order execution, DAB bank now offers their B2B customers all the tools they need to be successful in their business from a single source. IFA’s will be relieved of administration duties and can devote more time to advising their customers.
DAB bank’s decision in favour of Triple’A followed an exhaustive requirements analysis process verifying their professional clients’ interest in taking such a fully serviced investment management platform from the bank. Recently HVB Wealth Management and Bankhaus BethmannMaffei, then still part of the HVB Group have also decided to implement Triple’A.
“Thanks to DAB bank and this project Odyssey is further extending its position in the German wealth management technology market. In partnership with DAB bank we can now address the needs of independent asset managers, advisors and family offices who want to benefit from a fully integrated and serviced Triple’A in record time with very limited implementation efforts”, comments Michel Jongen, Odyssey’s General Manager for Western Europe.
DAB bank AG is the biggest Discount Broker in Germany in terms of assets under management and third biggest in terms of number of clients. Serving both (B2C) private clients and (B2B) professional clients, DAB has become the leading IFA partner in Germany working with 60% of the German asset managers. In 2003 DAB bank raised the number of financial intermediaries to 779. These intermediaries directly serve 48,346 of its end costumers. The B2B segment stands for 43% of the total volume of customer assets under management of 11,88 bn. Euro at the end of 2003.
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