Odyssey Financial Technologies said it has formed a new partnership deal with Incentage, a Swiss software provider of Straight Through Processing systems for the financial industry.

With this partnership, Odyssey launches its new Custodial Data Solution and includes it in its Portfolio Management solution, the Triple’A Plus platform.

Odyssey's Custodial Data Solution receives positions, transactions and cash data from global custodian banks that provide electronic feeds. It duplicates this data in a common, scalable format and is designed to reinforce operational efficiency.

“The solution powered by Incentage CapitalBus acts as a single access point interface between the Odyssey platform and the custodian banks. We’ve chosen Incentage because of its in-depth knowledge of the communication standards industry and its expertise, and because of the cost-effective extension its solution allows in a much shorter time-to-market,” said Quentin Bérard, Product Manager, Odyssey Financial Technologies.

“Partnering with Odyssey will allow us to extend the reach of our CapitalBus solution. Odyssey’s leadership position in Switzerland and beyond will enable us to approach new clients and markets with a high quality solution and reinforced services,” says Felix Huber, chief executive of Incentage.

It is foreseen that Odyssey and Incentage’s partnership will be extended in the future to developing new STP solutions.

An international business, Odyssey was founded in Luxembourg.