Mobile banking app

Thanks to the modern IT systems of the LLB Group, the Corporate Center can fulfil its role as a partner for innovation and exploit new business potentials. Since December 2013, we have offered our clients an attractive application for LLB Mobile Banking on smartphones and tablets. From payment transfers to account statements and stock market transactions, the new mobile banking app has almost the same range of functions as the popular LLB Online Banking System for desktop computers. The Scan and Pay function enables the user to employ the smartphone camera to scan giro payment slips simply and conveniently. Our mobile banking app offers simple and intuitive handling while fulfilling the highest security standards. The iOS version for Apple devices is available for downloading, a version for Android devices will follow in the first half of 2014.

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 media networks, they select virtual channels to contact the bank, and the internet is evolving into a sales and interaction channel. Accordingly, in 2013, the LLB Group began to set up a market-related multi-channel management function. For this purpose, platforms for the technical distribution channels (Online- and Mobile Banking) 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 has to be considered. Consequently, the multi-channel system will become part of our customer relationship management (CRM) with the aim of attaining closer client ties and stronger client retention.

Process optimisation

Modern communications technology played a central role in the introduction of the Customer Service Center in May 2013 at the LLB’s headquarters in Vaduz. This central service hub for 68 000 clients bundles the expertise and knowledge of three functional areas, i.e. Infoline, Private Client Support and Online Banking. These standardised services from one source, coupled with modern technology, enable us to save 30 percent of resources while providing the same scope of services. In 2014, the Group IT Division will participate in the development of analytical CRM systems for sales and marketing activities and install the latest telephone technology.

Information technology is subject to constant transformation. The further development of product portfolios, new regulatory requirements and mounting cost pressures necessitate a constant modernisation, consolidation and segmentation of the IT landscape. Since the groupwide introduction of the Avaloq banking software in 2011, LLB has consistently improved its processing quality and increased productivity. By carrying our concentrated analyses and increasing automation, the Group IT Division helps to design more flexible work processes and implement more efficient distribution processes.

Data protection and energy efficiency

Since the summer of 2013, the data center of the LLB Group has been located in Eschen, Liechtenstein. Here the Group’s highly sensitive business data are securely protected and available at all times. Data security is of cardinal importance to us. Information-processing s ystems, which guarantee confidentiality, availability and integrity, protect against threats and dangers, and help to prevent damage and minimise risks. However, our data center not only enjoys one of the highest security standards in eastern Switzerland, it is also a commitment to «Green IT». It has been awarded the Tier III Design Certificate by the Uptime Institute (see the chapter «Responsibilities for society and the environment»).


Integrity is a major attribute in gaining the trust of our clients, shareholders, employees and the general public. Accordingly, the LLB Group attaches great importance to the Legal & Compliance Function. During 2013, it expanded human resources in this unit. It is the goal of this independent organisational unit to support responsible, business-oriented activity and reduce or prevent the danger of compliance risks, such as damage to the Group’s reputation. In 2013, the unit adapted 28 directives to reflect the principle of uniform standards within the Group. Among other projects, the «Rules of Conduct» were redefined. These specify the conduct of the employees and executive bodies of the LLB Group in dealing with conflicts of interest in accordance with legal and regulatory provisions.

Furthermore, the Group Legal & Compliance Function was intensely involved in finding a solution to the US taxation dispute for the LLB Vaduz and in developing our tax compliance strategy. The LLB Group supports the tax compliance strategy of the Liechtenstein financial center, and is actively addressing the challenges created by the far-reaching changes in the regulatory environment. These will continue to be dynamic and grow more complex. In 2014, a major flood of regulatory provisions can be expected at an international level (see the chapter «Regulatory framework and developments»). In addition, we plan to set up a Group Regulatory Committee, which will be responsible for implementing the new regulations.

Shared Service Centers

As the backbone of the LLB Group, the Corporate Center made a significant contribution in 2013 to adapting the LLB to face fiercer competition. Another step in further improving our service quality was taken with the amalgamation in 2012 of the LLB Group’s payment services, trading and securities administration in the shared service center at the Group’s headquarters in Vaduz. In a benchmark comparison with other banks, our securities administration in particular confirmed its very high level of productivity. In total, we not only exceeded the expected cost savings by over CHF 1 million, we also extended our service offering. The trend towards shared service centers is increasing in importance within our Group. The internal bundling of services within the Group offers great strategic potential; on the one hand as regards cost optimisation and the quality enhancement of steering and support processes, and on the other, in terms of the concentration of expertise in competence centers.

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