The migration took place without any problems, following a development phase of 18 months. The switch to the Avaloq banking system is an important milestone in the evolution and development of VP Bank, which enhances Bank’s efficiency, supports the implementation of its strategy and underscores the competitiveness of the entire VP Bank Group.

In the next months, it will be a matter of gaining experience with the new system and, if necessary, implementing optimization measures to ensure a maximum of client orientation. The implementation of the banking system in the British Virgin Islands, Liechtenstein, Switzerland and Singapore has provided know-how that will be of great importance for the introduction of Avaloq at VP Bank (Luxembourg) S.A., during the course of 2009.