On-time introduction of «Avaloq»
In September 2008, the green light for the migration to the new banking software was given. At the beginning of 2009, the project team commenced the implementation of the sub-concepts. Up to the end of the year under report, 174'675 working hours had been invested in the realisation of «Avaloq». The functionality of the systems was successfully tested within the scope of three general trials. From 1 January 2010, Bank Linth will operate the new 2.7 version of the banking software. For the introduction of the system, among other measures, all client vouchers were reviewed and revised. The changes required a flexible and logical design concept for both simple and complex business transactions, ranging from a straightforward payment advice to a comprehensive statement of assets. From 2011, these vouchers and receipts will be available in four languages.
The LLB parent bank and Liechtensteinische Landesbank (Switzerland) Ltd. will change over to «Avaloq» at the beginning of 2011. It is planned that the central operating system for the three banks involved will be located in Vaduz.
Optimising of resources
The introduction of «Avaloq» represents more than just a large-scale IT project. Thanks to the standardised application platform, groupwide services can be set up centrally and synergies can be exploited more consistently.
Within the context of our Business Process Management Project, we are identifying and analysing all our business processes. This banking process model enables us to eliminate possible process duplications, to rapidly expand our service offer, and to establish more straightforward and cost-efficient procedures.
We are constantly striving to attain high levels of productivity and efficiency. The aim of the Shared Services Project is to ensure our good cost structure is maintained and the competitiveness of the LLB Group is improved. In the case of specific services, this will enable us to process larger volumes with existing personnel resources at lower cost. Within the context of this project, for example, we are continually improving payment transfer and security trading procedures. This straight through processing (STP) allows us to perform some banking transactions completely automatically.
STP rates with stock exchange transactions
2004–2009, in percent