Van Lanschot is investing heavily in digitisation. The launch of the discretionary management app is a big step toward improving how it serves and interacts with customers. Adding an app like this one enriches existing communication channels and enables customers to always have ‘their bank in their pocket’. In processes such as this one, Virtual Affairs shows which digital possibilities exist to better serve mobile customers when it comes to investment management.
Improving digital services
When it comes to service in this industry, it’s very important that an asset manager can exercise broad professional freedom. With technology where it is, customers no longer have to wait for monthly or quarterly reporting. Bas Rapati, the Manager of Digital Banking at Van Lanschot said: “Our discretionary management app offers our investor clients the opportunity to check their portfolio anytime and monitor market developments at the push of a button. It’s really exciting that these two worlds have come together for the first time. We constantly develop from the perspective of our customers and can now offer them insight via several channels.”
More transparency between customers and banks
Annelie van den Boomen, Account Manager at Virtual Affairs said: “Van Lanschot has a clear digital vision and distinct ambition. They trusted us to translate this into a user-friendly design in which transparency was a central point. Through creative mobile interaction, we have given customers direct information about their portfolio. This allows a customer to get real insight into what is going on and why an asset manager is making certain choices. It also strengthens the relationship between the customer and her or his bank.”
Increasing agility at Van Lanschot
Aside from developing the discretionary management app, Van Lanschot aims to be able to respond more quickly to market developments. They aim to realise this by implementing a new, flexible, omni-channel IT architecture on the one hand and an agile way of working on the other. Rapati: “For us, this project was our first step in the mobile field. Aside from this, Van Lanschot has chosen an agile way of working. Anyone can build an app, but the magic is found in how it is integrated with our existing systems and data. Virtual Affairs brings a lot of knowledge and is able to think with us in a flexible way. Together, we worked very hard to develop and launch this app.”
Moving finance forward
Van den Boomen adds: “For Virtual Affairs, the development of this discretionary management app is a great example of our focus on improving digital services for financial service providers. The ingredients for our success are our domain knowledge of private banking and asset management in combination with our flexibility, technical know-how and our touch of stubbornness. These attributes are also why Van Lanschot chose to do business with us. We are looking forward to long-term collaboration with the company.”
The discretionary management app is available for iOS and Android. Later this year, an interactive app for investment advice will be developed in partnership with Virtual Affairs. By doing this, the omni-channel services provision will be improved even more for the customers of Van Lanschot.