Board of Directors and Executive Board of Banque de Luxembourg rely on Loomion

Banque de Luxembourg has been operating as a private bank in the Grand Duchy since 1920 and is one of the largest asset managers in the Luxembourg financial center. The expertise and commitment of its teams, as well as the solidity of its balance sheet and that of its shareholder, make the bank a benchmark in Europe, particularly in Luxembourg and Belgium. With equity capital of 986 million euros, Banque de Luxembourg employs over 900 people and has almost 74 billion euros in assets under management.

Challenge

The goal: A standardized system for the administration of Board of Directors and Executive Board meetings

Banque de Luxembourg (BLU) invited several well-known manufacturers of board portal software solutions to present their products. The aim was to acquire a standardized system for the administration of board and management meetings and, in a second phase, for the management of internal funds. The internal project management therefore attached importance to an intuitive user interface from the outset, as the number of users would be quite large due to the two use cases. Furthermore, due to the high security requirements of the Commission de Surveillance du Secteur Financier (CSSF), the new solution should ideally be operated internally or in a PSF-certified data center.

Solution

The path: Loomion was the only provider to fulfill all requirements

After a thorough review of all providers, it became clear that the Loomion Portal was the only application that could meet all of Banque de Luxembourg's requirements. The local, PSF-certified data center operator EBRC was selected for data storage and operation. In a very short time, a dedicated infrastructure was planned, built and set up in close cooperation with EBRC. After a short transition phase, the platform was operated solely by EBRC. Loomion does not require any access to the customer's data to operate its portal. After a test and training phase, the new board portal environment was handed over to the Secretary General and his team in spring 2017.

The members of the individual committees of the Board of Directors and the Executive Board were equipped with iPads and the Loomion mobile app was automatically installed on them. On the Banque de Luxembourg side, two IT employees were trained in support tasks during a one-hour training session. They were then able to immediately answer users' queries on site and, if necessary, forward them to Loomion for escalation.

Success

Very high acceptance of the new Loomion portal right from the start

The Loomion portal has been very well received by the members of the Board of Directors and Executive Board committees from the outset. The days of printing out or sending meeting documents by e-mail are finally a thing of the past. From now on, meeting participants will appear with their personal iPad and can conveniently contribute to the thematic discussion with the documents previously annotated with their comments. The Secretary General's team now has a clearer head when planning, creating and communicating at management meetings, as the work is easier to manage and there is no longer any need to print or email meeting folders with documents, as was the case in the past - not to mention the additional security benefits. With the completion of the first phase of the project, the Loomion portal has already been rolled out in individual Banque de Luxembourg funds. Users who need to access data from both the Board of Directors and a fund can access it via the same mobile iPad app, saving time and increasing efficiency.

«Since the beginning of 2017, we have been using Loomion for document management at meetings of the Executive Board and Board of Directors. To the great satisfaction of the participants in these meetings, the portal allows secure, fast and uncomplicated access to the necessary documents at any time and from anywhere. This simplifies the preparation of meetings and increases their efficiency. The Loomion portal is therefore a useful component of our bank's digitalization strategy.»
Pierre AHLBORN – Administrateur Délégué, Banque de Luxembourg S.A.
Christopher Knabe

CEO Loomion AG
+41 61 500 16 25
knabe@loomion.com

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