Digitalisation of banking business

In the period from 2016 to 2020, we invested around CHF 30 million for Group-wide projects relating to the expansion of digital channels and services. Accordingly, we are complying with changed client requirements and positioning LLB as a modern, innovative financial institute.

Investments in Online and Mobile Banking

In 2017, we completely remodelled our LLB Online and Mobile Banking programmes. In terms of security, functionality, user-friendliness and design we were guided by the latest technical standards. These digital client interfaces are being continually further developed. In 2019, important new functions were added to the user interface of our Mobile Banking app. Our clients can now decide themselves whether they wish to log in and use basic functions by means of a finger print or facial recognition, and with the new dashboard they have important information available immediately at a glance . LLB Online Banking can now be further personalised by means of a new table tab enabling our private and corporate clients, as well as institutional clients, to set up their digital banking according to their requirements. In the year under report, we also developed additional functions for our institutional clients. They can now use a digital signature for their transactions with LLB and in future put together the sets of forms they want using a digital assistant in the form centre. We can therefore offer complete digital processing and support our clients in their internal digitalisation efforts.

In 2020, we shall continue to push ahead with developments in the area of digital client interfaces comprising, among other features, the introduction of QR billing and a new portfolio analysis possibility for Online Banking.

LLB Online and Mobile Banking are increasingly popular as confirmed by the significant growth rates we have achieved. Over the last five years the number of users of our Online Banking has risen from 21’297 (2015) to 30’932 (2019); an increase of more than 45 per cent. The number of Mobile Banking users climbed from 4’793 (2015) to 12’236 (2019); an increase of 155 per cent.

More progress with internal digitalisation

Within the scope of the “team@work” Group project, we are working on the comprehensive renewal of our digital infrastructure, the optimisation of work processes and the implementation of modern digital tools. In early 2019, we replaced IBM notes with Microsoft Outlook, which is now used by all staff for e-mail and calendar functions, as well as for personal tasks and contacts administration. “Sametime Chat” in IBM notes was replaced by the “Skype for Business” chat function. In another step to facilitate working from any location, since summer 2019 we have provided the possibility of using the e-mail, calendar and contacts functions from private smartphones. Furthermore, in September we launched the external mobile client (eMC) function, which enables company laptops to be used outside LLB’s offices. These measures enhance the attractiveness of the LLB Group as a top employer. In 2020, we are planning to introduce Skype telephony with video conferencing as well as a digital workplace with a collaboration platform to replace the existing intranet.

Another wave of digitalisation was initiated in the area of human resources at the end of 2018 beginning of 2019 (see chapter “Employees”).

In the service centers we are implementing self-learning IT systems to increase processing quality and productivity. Our ongoing automation and standardisation are supported by the Avaloq Banking Suite software package, which has been in use at our premises in Liechtenstein and Switzerland since 2011, and which we introduced in Austria at the beginning of 2020.

Broad based IT migration at LLB Österreich

Thanks to the change over to the previously mentioned Avaloq Banking Suite software, our bank in Austria will be able to benefit in future from important synergies. On the one hand, internal processes will be simplified, and on the other, LLB Österreich’s clients will be able to benefit from the complete spectrum of products and services offered by the LLB Group, such as the “LLB Invest” investment advisory and asset management applications, or our online and mobile banking possibilities, as well as the ground-breaking “LLB Portfolio Analysis” system.