Investments

Shared service center

As the backbone of the LLB Group, the Corporate Center made a significant contribution in 2012 to adapting the LLB to face fiercer competition. Another step in further improving our service quality was taken with the amalgamation of the LLB Group’s payment services, trading and securities administration in the shared service center at the Group’s headquarters in Vaduz. The resulting release of resources enabled us to cut costs by over CHF 3 million while at the same time utilizing 26 percent less personnel. The trend towards shared service centers will increase in importance within our Group. The internal bundling of services within the Group offers great strategic potential; on the one hand, as regards cost optimization and the quality enhancement of steering and support processes, and on the other, in terms of the concentration of expertise in competence centers.

Modern information technology

We have also been working intensively on our IT infrastructure. Information technology is in a permanent state of change. The continual development of our product portfolio, new regulatory requirements and mounting pressure on costs mean that we must continually modernize, consolidate and delineate our IT architecture. Since the groupwide introduction of the Avaloq banking software in 2011, the LLB has succeeded in improving its processing quality and increasing its productivity. In 2012, the Group changed over to the higher performance, secure and user-friendly Microsoft Windows 7 operating system. And, with the opening of the new bank branch in Eschen, Liechtenstein and the attached data processing center, the LLB is starting a new era of «green IT». IBM Switzerland has certified our new green processing center as being state of the art (see chapter «Responsibilities for society and the environment»).

Our modern IT infrastructure enables us at the same time to fulfil our aim of exploiting new business potential as a partner for innovation. In autumn 2013, we plan to offer a comprehensive system of mobile phone banking. Using mobile devices such as smart phones and tablets, LLB clients can access their accounts and carry out financial transactions. In this manner, the LLB Group is enhancing its services for clients who have an affinity for modern technology and, at the same time, hopes to reap the strategic competitive benefits of being an «early mover». We are convinced that transparency, speed of innovation and a clear focus on clients and their needs are decisive factors in achieving sustained success. Nevertheless, even in the digital age, our most important distinguishing characteristics are still the high-quality, on-the-spot advice provided by our staff and our unrivalled service.

Multi-channel management

In order to create new, intelligent solutions, the concerted interaction of IT and marketing will play a central role in future. Bank clients are increasingly active in social networks, they select virtual channels to contact the bank, and the internet is evolving into a sales and interaction channel. Accordingly, the LLB Group plans to set up a market-related, multi-channel management function in 2013. For this purpose, platforms for the technical distribution channels (online-, internet-, phone-, e-banking; mobile banking, -trading, -payments) have to be put in place and extended. Furthermore, the analysis of data becomes even more important in order to better understand clients and their needs. In addition to the value-oriented perspective, the behaviour-oriented client perspective also has to be considered. Consequently, the multi-channel system will become part of our customer relationship management with the aim of attaining closer client ties and stronger client retention.

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