Starting with client onboarding in April 2018, the Appway system will eventually digitalise all the private bank and asset manager’s operational and client-facing processes.
It will cover all stages of the client lifecycle; including prospecting, onboarding, support and off-boarding.
The system will be launched at LGT’s Liechtenstein head office, as well as its private banking branches in Switzerland, Austria, Singapore, and Hong Kong.
Scale advisory services
“This is a strong investment in our customer service capabilities and an important step following our solid growth and the successful international diversification of our client portfolio over the past few years,” said André Lagger, chief executive of LGT Financial Services.
“Digitalising our customer lifecycle management processes will enable us to scale our advisory services. With the help of Appway, we aim to offer our customers swift, effective, and compliant onboarding and support, despite steadily increasing regulatory requirements.”
The Appway Digital Banking Platform provides a global template for key customer lifecycle management processes while supporting compliance in all regions that LGT serves. Furthermore, Appway facilitates effective internal collaboration across departments and locations by orchestrating LGT’s existing systems and applications, including its Avaloq core banking platform.
Daniel Schiller, senior account executive at Appway, said: “The trust that LGT has put in us shows that we have the vision and the tools to serve financial service institutions beyond their immediate digitalisation needs, assisting them as a long-term partner on their transformation journey.”
Vaduz-headquartered LGT is an asset manager and private bank controlled by the Liechtenstein’s princely family.
As at 31 December 2017, LGT managed assets of CHF201.8bn ($207bn. €268bn. £145.3bn) for wealthy private individuals and institutional clients. LGT employs over 3,000 people across Europe, Asia, the Americas and the Middle East.
