Liechtenstein's Verwaltungs- und Privat-Bank AG (VP Bank) is installing SunGard Business Integration's Mint system to consolidate its financial messaging operations and manage its migration to the SwiftNet IP network.
The Mint platform will also be used to manage the bank's migration to the Finance IPNet network, which is being introduced by Swiss clearing systems SIC, euroSIC and SECOM.
All told, Mint will replace four separate financial messaging gateways in use at the bank.
Gerhard Häring, chief group information officer, VP Bank, says the bank was looking for one single system to consolidate its existing fragmented messaging environment and reduce costs.
"It was also crucial for us to find a reliable and proven solution that was scalable and ready for the coming changes with SwiftNet and Finance IPNet for the Swiss Clearing systems. Increasing our operational efficiency and overall STP rates were other important selection criteria," he adds.