Avaloq announces the extension of its platform by VP Bank

In the beginning of January 2009, VP Bank Group successfully implemented the Avaloq banking system by opening offices in Zurich, Liechtenstein and the British Virgin Islands. Along with VP Bank, the LGT Group, Reiffeisen Bank Switzerland, Bank Vontobel and LBBW Luxembourg also started to work with the Avaloq software.

According to Avaloq it has developed the innovative entity concept for the VP Bank Group, and following this concept, new entities can be easily integrated into the VP Bank Group without data modifications. Protection for clients’ privacy and personal data is guaranteed, all the data identifying the client is only every stored on site locally. This is a unique concept of the Avaloq system.

Avaloq CEO Francisco Fernandez noticed that Avaloq has done a lot of work for VP Bank in Singapore. He added that VP Bank is now extending the use of Avaloq to its offices in Switzerland, British Virgin Islands and Liechtenstein, and these implementations also mean an important milestone in the Avaloq strategy.

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