The LLB Group believes that the key to success lies both in improvements through innovation and in the step-by-step optimisation of the company. Continual progress in improving efficiency, IT optimisation and the simplification of structures facilitate growth and profitability. In line with the StepUp2020 strategy, the Group COO Division intends to firmly establish a lean management culture in the LLB Group. For this purpose it set up the new Operational Excellence Department in 2016.
The new department places its focus, on the one hand, on offering every client the services that he really wants. On the other, it wants to identify redundant processes. Improved business processes should enhance the quality of services and further increase client satisfaction. By following the lean management concept, the LLB Group wants to implement the philosophy of an intelligent organisation capable of learning.
The aim is to increase the number of customer contacts in all distribution units. To achieve this, we shall use lean methodology to analyse our client advisory teams, as well as the operative conditions, procedures and interfaces. In 2017, we plan to strengthen the concept of lean management by holding appropriate training courses throughout the company as well as carrying out a pilot project in the Private Banking Division.
High level of automation
Since introducing the Banking Suite software throughout the Group in 2011, the LLB Group has continually improved its processing quality and productivity. In 2016, in comparison with the appropriate benchmarks (CC sourcing of the University of St. Gallen), the LLB Group attained very high STP rates (the percentage of transactions, which from start to finish are processed fully automatically). Of all payment orders processed, 92 percent were already being submitted electronically and the STP rate stood at 99 percent. Over 98 percent of stock market statements were processed automatically and the STP rate with capital market transactions was almost 80 percent. Accordingly, the LLB Group has the essentials in place to efficiently process large transaction volumes with the existing infrastructure.
Shared Service Centers
As the backbone of the LLB Group, the Corporate Center makes a significant contribution to helping the company adapt to fiercer competition. This includes bundling the competences in the Shared Service Center at LLB’s headquarters in Vaduz. The services concerned are payment transfers, trading and securities administration, the central client register of LLB and Bank Linth, as well as the payment systems of LLB (Österreich) AG. The continual increase in the level of automation improves efficiency while keeping costs low.