VP Bank: Investing in Digital Solutions for Sophisticated Clients

By Paul Joseph

The modus operandi of any business or organisation is to make life easier for its clients – and nowhere is this truer than in the world of banking.

Sophisticated clients such as those served by VP Bank, a Liechtenstein-based private bank, require a unique combination of impeccable customer service optimised to save them time and money, plus 100% security and peace of mind.

Among the major challenges facing all banks today – and particularly boutique banks such as VP Bank – is how to integrate the benefits of the digital revolution into its services to deliver a better customer experience. And in the case of VP Bank, it’s a challenge they’re taking on with great gusto.

Specifically, VP Bank is investing specifically in digital solutions that aim to combine online services with personal advice, all with an emphasis on the importance of individual client support.

The use of digital tools to benefit clients as well as in the interest of its own business operations is also reflected in VP Bank’s digitalisation broader strategy. In short, the bank is firmly convinced that the model of success for the future will comprise a combination of automated services and personal advice.

This so-called ‘hybrid advice’ combines the benefits of digital solutions with the experience and empathy of a client advisor.

Playfully simple

Last year, VP Bank relaunched its website based on cutting-edge portal technology that will enable a whole raft of services to be integrated. Then, at the start of 2018, VP Bank’s e-banking as well as a market data overview were integrated into this portal. In addition to the highest possible security standards, the specifications also included an intuitive user interface and a fresh design.

The aim of the portal was to make it playfully simple for clients to settle bank transactions. The most important functions are presented on VP Bank’s e-banking website, and thanks to the well-structured menu, users can navigate with ease, while the graphics help clients to maintain a clear view of their financial circumstances.

Furthermore, in addition to the desktop version, VP Bank e-banking is also available as a mobile solution in the Apple Store or in the Google Play Store.

Modern and easy to use

Along with this expansion of services, VP Bank is making its investment consultancy division even more responsive and tangible for clients. Client advisors are using tablets during personal consultancy meetings to simulate various investment proposals and adjustements. This means advice can be provided at any location, while user-friendly visualisation is allowing clients to see instantly how their portfolios could be changed and developed by minor adjustments.

During the course of such discussions, clients are able to gain a sound basis for assessing investment options, in harmony with the continuous support of their client advisors.

The technology driving such services is based on the proven investment consultancy software Finfox, which can be used to prepare bespoke investment proposals. Proposals draw upon current bank recommendations, and take account of the regulatory requirements of the respective client domicile. By this means, the software combines the know-how of client advisors, research and investment specialists.

Digital security as a new basic requirement

Many services will be used in future in a digital environment, and exchanges between clients and their advisors will increasingly be conducted in virtual settings. Within this context, the topic of security and the protection of privacy will inevitably become increasingly important. VP Bank deploys proven security standards for its online services, meaning the highest data and transaction security is guaranteed for the settlement of banking transactions.

The mix is the key

However, a proven consultancy process remains just as crucial to success as the use of state-of-the-art technology. The art of private banking requires a holistic understanding of the existing circumstances of clients, jointly working out their objectives, identifying the best solution and implementing this efficiently.

Or to put it another way, the empathy of the client advisor is an essential consultancy factor – and one that can never be replaced by an online solution alone.

VP Bank was founded in 1956 and has grown from a company for intermediaries into a globally active bank. The core competencies are private banking and business with financial intermediaries. It offers tailor-made asset management, investment consulting and wealth planning for a sophisticated private clientele.


By Paul Joseph