VP Bank and InvestCloud have agreed on a partnership to use each other’s strengths and share an ecosystem facilitated by an Open Wealth Service platform. The future of finance is platform-banking, and we see this evolution more and more in Liechtenstein.
Liechtenstein-based VP Bank goes one step further in digitizing its services. The partnership with InvestCloud, a US-based platform for financial solutions, aims to serve client needs by offering digital wealth management services. “Evolving client needs, digitalization, ecosystems, and progressive business models are accelerating the pace of change in the wealth management industry,” reads the press release.
The partnership is part of VP Bank’s Strategy 2026, which aims at making the bank an “international Open Wealth Service provider for intermediaries and wealthy private clients.” That includes expanding access to innovative and customized financial solutions by taking a client-centric approach.
Paul Arni, CEO of VP Bank, says, “This partnership marks another important milestone in the implementation of our strategy 2026 towards our vision to be an international Open Wealth Service pioneer. 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. With InvestCloud as an experienced partner at our side, we will be able to drive innovation and provide customized bundled wealth solutions.”
InvestCloud is headquartered in Los Angeles, USA, and operates more than 20 offices worldwide. Its more than 700 corporate customers include mostly wealth managers and independent asset managers. The digital platform enables the development of financial solutions to enable banks to serve their clients, regardless of location, through a single, scalable, and modular fintech solution that supports the entire asset spectrum. It is based on an open service architecture that includes all of VP Bank’s locations.
VP Bank will bundle its in-house and third-party offerings on the InvestCloud platform to create customized financial solutions. It will make these products available to its clients and wealthy individuals who have no direct relationship with VP Bank but with financial intermediaries within the ecosystem. VP Bank can thus leverage InvestCloud to achieve a multiplier effect and broaden its addressable market without any significant client acquisition costs.
Christine Ciriani, CEO, InvestCloud Private Banking & Wealth, Europe and Asia, comments on the partnership with VP Bank: “Our platform and the ever-growing range of modular wealth management apps enable the implementation of digital, intuitive and personalized advisor experiences. 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.”
The partnership is representative of where the banking industry is heading overall. Platform Banking approaches in which banks become part of financial services ecosystems are the future of finance. It enables banks to focus on what they can do best, asset management and client relations, while fintechs focus on the tech side. Becoming part of ecosystems will expand banks’ reach and improve their services. The future of finance is more interconnected and flexible. VP Bank has just moved one step further in that direction.