Investments and innovative power
The branches of Liechtensteinische Landesbank and Bank Linth are venues for the provision of high-quality advice, competent services and the core of distribution activities. The LLB Group is constantly refining its branch concept. For example, the branch in Eschen (Liechtenstein) is not only an LLB testament to “green IT”, it also fulfils the new role of a modern, communicative bank branch. At the moment, a new bank branch is being built in Sargans (Switzerland). Bank Linth will set new standards there with its future-oriented customer zone, its inspirational advisory concept and its self-service for banking and financial transactions.
In 2015, Bank Linth will also introduce its new “Distribution III” concept in the Sargans region. Subsequently, this concept is to be implemented in all the LLB Group’s bank branches. The concept also establishes standards for administration and team care for basic clients, as well as targeting clients with business potential. At the same time, it reduces infrastructure costs and reinforces the bank’s position as the leading regional bank in eastern Switzerland.
The LLB Group is constantly adapting to changed client behaviour. For banking transactions, today’s bank client wants to take advantage of the many different communication modes offered by modern media. Consequently, we are planning to take full advantage of omni-channel banking and in 2015 we shall formulate a strategy to link up our bank branches with online and mobile banking. The cross-channel coordination of processes and information for clients provides them with new types of banking experiences.
In 2014, the use of smartphones for mobile online banking increased rapidly at the LLB Group. Our innovative mobile banking app is a genuine success story. Throughout the Group we registered over 8’000 downloads in the Apple Store. Since the middle of 2014 we have also gained around 1’300 Android users. On average, 300 users per month are added. Our mobile banking app is easily and intuitively operated while at the same time fulfilling the strictest security standards.
Lending business is still an important and demanding field of activity for the LLB Group. Continually increasing lending volumes and the low interest rate structure mean we do not expect this to change in the near future. The LLB is the number one address for around 37’000 customers in the Liechtenstein domestic market. For Bank Linth lending business represents a major earnings stream in its eastern Swiss market region even though it faces severe competitive pressure.
The LLB Group is constantly adapting its credit risk management in line with the latest regulatory standards. In 2011, trading and back-office processing functions were separated, in 2012 a stricter lending policy was introduced, and in 2013 credit approval authority was delineated even further. In 2014, we launched the “Front to Back Excellence” project, a concept to completely revise lending processes. Within the scope of lean management, the key points are client focus, efficiency and cost-savings. In 2015, we shall significantly shorten the throughput times from the commencement of processing of a loan application up to the earliest possible disbursement (see the chapter. “”).