The Corporate Center steers, controls and bundles the central functions within the LLB Group. It safeguards corporate development, including information technology, while pursuing the goal of improving the efficiency of processes, as well as expanding and improving the quality of our services.
The Corporate Center encompasses the Group CEO, Group CFO and Group COO Divisions. All the departments which coordinate and monitor Group-wide business activities, processes and risks are concentrated in this business segment. The Corporate Center therefore contains eleven business areas.
The Corporate Center focuses fully on the requirements of the market divisions and thereby makes a direct contribution to the value added by the LLB Group. It plays a key role in the realisation of the StepUp2020 strategy. In 2019, the priorities were placed on the migration of the Austrian subsidiary to the central core banking system, the digitalisation of banking business, the further development of innovation management, as well as the optimisation of the organisation according to the principles of lean management.
Shared Service Centers
Shared services are provided centrally from one source within the LLB Group in order, inter alia, to ensure efficient processing of payment transfers, as well as stock market and securities transactions. Besides the parent bank and subsidiaries, from January 2020 LLB Österreich, which now contributes 30 per cent of the transaction volume in stock market trading, will also benefit from this service. This substantial expansion in capacity is being carried out without any increase in personnel resources or costs, which testifies to the great scalability of the Shared Service team. We bundle a vast amount of professional knowledge in this team.
Thanks to the high level of automation and the standardisation of transaction processing, we have successfully improved efficiency and significantly improved the speed of throughput times for trading, securities and payment transfer transactions.