A partnership spanning more than 20 years
A partnership spanning more than 20 years
Danske Bank has co-operated with Vitec Aloc for more than twenty years. “This is primarily because the PORTMAN solution is a good business case for us, and because Vitec Aloc knows the finance sector better than most. But it is also because, through the years, we have established a strong and close collaboration based on mutual trust”, says Sophie Hansen, First Vice President of Tax Services and Customer Reporting, Private Banking Elite clients at Danske Bank.
PORTMAN is a modular standard solution, where you only pay for the functionalities you need. Sometimes, however, you demand more than what is available.
“One of the main advantages of being a client of Vitec Aloc is that many of the other actors in the finance sector are also Vitec Aloc clients. This means that, if something is happening in one corner of the sector, it is intercepted by Vitec Aloc and shared with the rest of us. The same applies the other way round – we naturally also share information if it is of significance to the sector”, says Sophie Hansen, who continues: “I mean, the legislation is the same for all of us, so why not work together on developments and share the costs. Vitec Aloc is good at setting that into action.”
“Vitec Aloc’s business strength is that they know the sector as well as they do. This is not necessarily detailed knowledge about the individual banks, but an overview of what is happening and trending in the sector now and often also in the future”, says Sophie Hansen.
“In practice, this means that we are always on the same page when, for example, the sector must take action to comply with new legislative requirements. For example, Vitec Aloc was quick off the blocks when we began talking about ESG – Environment, Social and Governance – which is currently receiving increased attention from our clients", says Sophie Hansen and continues:
Vitec Aloc initiated an important shared development project for the PORTMAN solution, which has increased our ability to deliver valid green reports
Danske Bank has collaborated with Vitec Aloc for more than 20 years. “We enjoy a close collaboration, which is borne by good services and competent employees”, says Sophie Hansen. “Besides the daily contact, we have status meetings every third month where everything is assessed and discussed – and by everything, I mean everything. We have collaborated for so many years that there is nothing that is too delicate to discuss. We are always fully updated.”
The daily contact with Vitec Aloc's support function is highlighted by Sophie Hansen. “We are really delighted with the support function. We only ever encounter competent and service-minded employees, and, because we operate in all of the Nordic countries, we look forward to Vitec Aloc strengthening their position in the rest of northern Europe.”
The PORTMAN solution delivers high-quality performance measurements, risk control, tax statements, and management and accounting reporting for the Private Banking clients of Danske Bank. If you ask Sophie Hansen, however, there is one simple thing that she looks forward to being improved.
“Vitec Aloc has initiated a major facelift concerning the layout and appearance of our reports. That will enable reporting of the highest quality, which I am particularly looking forward to.”
“First and foremost, this is a business case for us. This means that we primarily collaborate because Vitec Aloc’s PORTMAN solution delivers the required functionalities at such a price that it makes good business sense for both parties. On top of that, however, we have of course collaborated for more than twenty years. This is only possible if you have a strong and solid collaboration based on a high degree of trust. And that is definitely the case here”, says Sophie Hansen.
“Oh, and one last thing. It is important for me to stress that, when it comes to IT, Vitec Aloc is extremely competent.”
About Danske Bank Private Banking Elite
The Private Banking Elite clients are responsible for huge assets with a high level of complexity, which requires special guidance. The assets are often of such a size, where the primary task is not to secure the prosperity of the client and their closest relatives for the rest of their lives, but to secure the coming generations and the values or organisations for which the client is responsible.
If you have any questions, or would like to know more, please contact Chief Sales Officer, Mikkel Severin Lyngbye, at +45 29997141 or send us an email.Contact us