VP Bank has signed an innovation partnership InvestCloud to build an open wealth service platform that facilitates personalised wealth management services.
The partnership part of the bank’s Strategy 2026 to become an international Open Wealth Service provider for intermediaries and wealthy private clients.
Through its open wealth service platform, the Liechtenstein-based bank aims to combine its in-house as well as third-party offerings to create bespoke financial solutions.
These solutions will be offered to both VP Bank clients as well as HNW individuals served by financial intermediaries within the ecosystem.
The platform will be based on an open service architecture that includes all the bank’s locations.
VP Bank CEO Paul Arni said: “This partnership marks another important milestone in the implementation of our strategy 2026 towards our vision to be an international Open Wealth Service pioneer.
“With InvestCloud as an experienced partner at our side, we will be able to drive innovation and provide customised, bundled wealth solutions.”
Los Angeles-headquartered InvestCloud specialises in digital platforms that facilitates the development of financial solutions.
The company is said to serve over 700 corporate customers, including wealth managers, independent asset managers and asset services companies among others.
InvestCloud’s platform is designed to enable banks to serve their clients, regardless of location, utilising a ‘single, scalable, modular and flexible’ fintech solution.
InvestCloud Private Banking & Wealth, Europe and Asia CEO Christine Ciriani said: “Our platform and the ever-growing range of modular wealth management apps enable the implementation of digital, intuitive, and personalised adviser 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.”
In March this year, VP Bank acquired a 3.4% equity stake in Chinese wealth manager Hywin as part of an ongoing partnership between both parties.