The Liberty Group will be the first non-banking organization to migrate to Finnova Banking Software. 

The Liberty Group will migrate its foundations to Finnova Banking Software on 31 October 2019. The migration involves nine foundations serving 600 employers and 23,000 members with total pension assets of just under CHF 3 billion. It is a project of major significance in the Group's close to 15-year history.  

During spring of this year, the Liberty Group decided to replace the currently running Rainbow soft-ware. The Finnova product will replace the existing software, which had been tailored to our own specific needs, but no longer meets those requirements. The new Finnova platform will enable us to enhance our range of services and structure them more effectively, benefitting our Clients.

In collaboration with Soranus Ltd, an experienced banking consulting firm, finnova ltd bankware and Liberty's own project team mobilized the necessary resources and kicked-off the project with great enthusiasm and energy under an ambitious time schedule.

It is important for us to inform you of the effects of the planned migration. During the planed transition, there will be some inevitable restrictions in our daily service capabilities.

• Between 1 and 30 November 2019, our asset-managing partners will not be able to execute any strategy runs, including the rebalancing of their model-portfolios. All other activities, such as customer enquiries, account openings, payments, asset management mandates on section accounts or individual stock exchange orders remain unaffected and will be processed normally. 

• Transactions executed after 1 November will be booked into our new system after 18 November.   

• Our usual annual financial statements will be prepared using Rainbow and the resulting reporting per 31 October will be sent to clients at the beginning of 2020, together with the Finnova statement per 31. December.  

• Per 31 October, only data and inventory items will be migrated. Clients who use our online Liberty Connect gateway will still be able to view all their positions and transactions.   

Experience has shown, that projects of this size do not always run smoothly and certain delays can be expected. However, we expect that the new Finnova platform will provide more functionality, faster processing times, higher levels of security and banking-standard processing and reporting.

We would like to thank you in advance for your understanding and remain at your disposal for any questions or further information.