VP Bank using cloud-based ecosystems
In future, VP Bank is to bundle its proprietary and external asset management solutions via ecosystems supported by an Open Wealth Service platform. To realize this aim, the bank has entered into a partnership with the Californian company InvestCloud.
VP Bank has agreed a partnership with InvestCloud, a leading supplier of digital platforms for the financial industry. As detailed in a press release issued by the Liechtenstein bank, InvestCloud, which is headquartered in Los Angeles, enables its partner banks around the world to serve their clients via a single, scalable and modular platform that “embraces the entire asset spectrum”.
The cooperation with InvestCloud is seen as the basis of VP Bank’s strategy 2026, by which point the bank is aiming to become an international Open Wealth Service provider for wealthy private customers and intermediaries. Via the new platform, VP Bank will “bundle its in-house as well as third-party offerings to create customized financial solutions and make those innovative products available not only to its own clients, but also for example to wealthy individuals who have no direct relationship with VP Bank and instead are served by financial intermediaries within the ecosystem”. In turn, this enables VP Bank to realize “a crucial multiplier effect” without incurring any significant client acquisition costs.
Paul Arni, CEO of VP Bank, summarizes the situation: “The resulting platform will enable us to provide our clients as well as third-party clients access to innovative services relating to wealth management issues”. In addition, Christine Ciriani, CEO, InvestCloud Private Banking & Wealth, Europe and Asia, was delighted to agree the partnership with VP Bank. “We are very pleased to have been selected by VP Bank as their partner for this strategic engagement, and to be able to support the bank in the development of its Open Wealth Service platform”, she commented in the press release.Back to overview