The Liechtenstein-based VP Bank group is now operating with Avaloq’s banking software system. Over the New Year, the group switched its IT platform to the Avaloq system, after 18 months of development.

As of 5 January, all of the bank’s transactions have been processed via the Swiss company’s platform.

In a statement, VP said the package enhances efficiency, supports the implementation of its strategy and underscores the competitiveness of the group.

In the coming months VP will be gaining experience with the new system and, if necessary, implementing optimisation measures to ensure a maximum of client orientation. The system has been implemented in the banks bases in Liechtenstein, Switzerland, the British Virgin Islands and Singapore.

Over 30 banks worldwide use the Avaloq banking system.