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13. Feb. 2020 - Press release

Bank Frick shows the way with a new service architecture

Bank Frick has put a new service architecture in place. This approach uses tailored bundles to bridge the gap between classic banking and blockchain banking, helping clients find what they need quickly and easily. A new, expanded version of www.bankfrick.li has also been released to support this client-centric strategy.

Bank Frick shows the way with a new service architecture

Balzers (LI) – Bank Frick has launched a new service architecture, one which places the focus squarely on its clients with a new range of future-proof service packages. Intermediaries will now find it easier to navigate the Bank’s range of products and services and identify the right solution faster. Each bundle has been carefully designed to provide what clients need today in classic and blockchain banking – and these requirements become all the more complex where these two areas meet. By introducing this clear and transparent service architecture, Bank Frick has underlined its commitment to combining the conventional financial world with that of crypto finance.

Market-oriented service architecture and customised advice

“Initially, the new service architecture will feature 22 bundles. These have been developed based on our analysis of our clients’ requirements and represent a fast, digital way to access the world of Bank Frick. This makes our bundles ideal for experienced clients who know the types of products they are looking for”, says Curdin Kunfermann, Head of Business Analysis at Bank Frick.

Bank Frick is also offering tailored solutions for projects which are not covered by the new bundles, focusing on the personalised level of contact and professional advice the Bank provides. This integrated range of products and services underlines the Bank’s client-first approach.

Classic and blockchain banking growing together

Speaking about the Bank’s new service architecture, Stefan Rauti, Head of Blockchain Banking at Bank Frick, highlights the significance of market developments: “The blockchain field has professionalised and established itself in the world of conventional finance. This means our clients’ requirements become particularly complex at the point where classic and crypto finance meet – and this is where we believe the future of banking lies. Our market-oriented bundles are perfectly suited to every requirement.”

Easy access to all asset classes

From now on, Bank Frick will be offering specially tailored bundles, covering everything from processing over-the-counter trading activities as part of the Crypto OTC bundle to developing crypto-based fund solutions and issuing support in security token offerings.

“As a pioneer in the field of blockchain banking, we began bridging the gap between the old financial world and the new back in 2017, but nowadays, people are no longer interested in stand-alone services. Our new integrated range of products and services represents the next step and offers the necessary degree of flexibility. This gives our clients easy access to all classic and digital asset classes, future-proof financial products and our reliable banking infrastructure”, explains Stefan Rauti.

The new and improved Bank Frick website

The new service architecture is also reflected on www.bankfrick.li. The website now gives clients direct access to the entire range of Bank Frick services and allows them to find the bundle they need quickly and easily, improving the overall user experience. Visitors to the website still have access to in-depth information on the subjects of classic and blockchain banking.

About Bank Frick

Bank Frick specialises in banking for intermediaries. The Liechtenstein bank provides a fully integrated offering of classic banking and blockchain banking services. Its clients include fintechs, asset managers, payment service providers, family offices, fund promoters, pension funds and fiduciaries.

Bank Frick has been family-run since its foundation as a licensed universal bank in 1998, and it adopts an entrepreneurial approach. The Bank is currently under the majority control of the Kuno Frick Family Foundation (65 per cent). Net1, the Nasdaq-listed financial technology group, owns 35 per cent of its share capital. In October 2019, it was announced that Net1 would be increasing its stake in Bank Frick to 70 per cent. The acquisition is awaiting approval by Liechtenstein’s Financial Market Authority (FMA). The Bank employs over 130 members of staff at its Balzers office and operates a branch in London, UK.

Bank Frick is one of Europe’s pioneers of the regulated blockchain banking sector. Its offering covers trading and custody of crypto assets, as well as token sales. The Bank also develops tailored crypto-structuring solutions for intermediaries.

In addition to its highly regarded basic services, Bank Frick’s classic banking offerings cover services for funds and issues, focusing on formulating European (AIF, UCITS) and national fund solutions. In the capital market sector, Bank Frick develops tailored financial products for intermediaries and supports them along the whole issue process, acting also as a custodian bank.

Bank Frick is the only Liechtenstein bank with acquiring licences from Visa and MasterCard, and it can process card payments globally for payment service providers and their online merchants.

Bank Frick established subsidiaries in 2019 to appear independently on the market with new services: Distributed Ventures AG, an incubator and accelerator to promote and finance fintech and blockchain start-ups, and The DLT Markets AG, which offers institutional investors professional access to digital assets. Also in 2019, Bank Frick took over the fintech company Tradico AG, which specialises in finance for goods purchasing for SMEs, and acquired a majority stake in the fintech company 21.finance AG, which operates area2Invest, a digital investment platform for classic and tokenised financial products.

 

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