Focusing on Mobile-First to Deliver an Initiative for Better Banking
LGT is one of the world’s leading private banking and asset management groups. With their LGT SmartBanking initiative, they are creating a service that prioritizes their customers’ changing digital needs above all else. LGT’s goal was to make all current and future banking services available on mobile devices anywhere, anytime. In addition to customer services, LGT also wanted to create an employee portal that gave access to customized information and company services.
Based on a preliminary project study and a detailed implementation program, LGT SmartBanking was carefully designed to replace the current eBanking solution. LGT thus reinvented its international digital service offering to provide quicker, better and more personal customer experience.
Flexible Response to Changing Customer Demands
LGT SmartBanking was an important component of LGT’s digital strategy, so special attention was paid to researching customer needs during the planning phase. Flexibility was especially important, since the initiative was part of a long-term eBanking strategy that will require future development. The new portal software needed to integrate with legacy systems and third-party systems, while keeping to the scheduled timeline. Another important factor was the ability to integrate the system with the existing IT landscape as well as with third-party systems. To evaluate the requirements and make the final decision, stakeholders from asset management, consulting and sales were involved throughout the process. The team selected the Avaloq Front Platform (AFP), which includes Liferay as the central portal, for the LGT SmartBanking solution.
Outstanding Quality From Strategic User Feedback
Following the successful completion of the pilot phase, the international rollout began in autumn 2015 and will be implemented in stages through 2017. A team of stakeholders will gather feedback as they interact with customers. This feedback from customers and other users will be applied in each stage of the project roll out, ensuring constant improvement and agile development. LGT SmartBanking will eventually be used by LGT banks in Liechtenstein, Switzerland, Singapore and Hong Kong.
LGT SmartBanking provides a consistent and fully-integrated platform for a variety of current and future individual applications. All users, including customers, relationship managers, prospects and intermediaries, will be able to access this platform from both desktop and mobile devices. They can access or exchange information online as well as carry out eBanking transactions. By replacing their current solution with LGT SmartBanking, the bank is taking its service offering to a whole new level. At the end of the project, LGT envisions having their full scope of financial services available through mobile. LGT SmartBanking gives the company an important competitive advantage in the digital banking age.
- LGT SmartBanking: Liferay is the central portal of the Avaloq Front Platform
- Mobile-first strategy: Digital customer-oriented solutions
- Easy to upgrade: Flexible integration with future digital banking services