Lombard Odier follows a deliberately differentiated approach when it comes to advancing its IT systems: proprietary solutions are developed where they provide a strategic edge, while market-standard tools are used in areas where they offer no specific added value.

This philosophy is deeply rooted in the Geneva-based private bank’s tradition. «Our partners were visionary—they made an early decision to retain technology as a strategic pillar in-house,» Geoffroy De Ridder told finews.com.

Geoffroy De Ridder. (Image: zVg)

Five years ago, Lombard Odier launched a seven-year modernization initiative of its core banking system, G2, under the name GX. Today, the most complex phase of the program is complete: legacy systems have been retired, core back-office processes modernized, and new front-end platforms for advisors are ready for rollout.

Market Solutions: A Mixed Experience

For functions such as payments and client reference data management, Lombard Odier deliberately uses market-standard solutions. However, the experience with these so-called best-of-breed systems has been sobering. «What the market offers can be less impressive than expected. Our internal IT is extremely strong—we’re seeing that clearly in comparison,» says De Ridder.

A key factor is the depth of institutional knowledge within the bank’s tech team. Many of the bank’s IT specialists have been with the firm for years and possess a deep understanding of its operations. «Our IT staff know the business as well as the bankers themselves,» De Ridder notes. This proximity to the business, combined with technical expertise and short decision-making cycles, creates a unique setup.

Coping With Short Innovation Cycles

The entire banking industry is grappling with how to build IT architectures that can withstand increasingly short innovation and obsolescence cycles. «In the past, you could run the same core system for 20 years. These days, we’re lucky if a technology lasts four,» De Ridder says.

Lombard Odier’s answer is a modular architecture based on standardized building blocks that allow for the development of adaptable, flexible components—including AI capabilities.

Significant Investment in Talent and Training

Artificial intelligence is playing an increasingly important role at Lombard Odier. The bank sees three promising areas of application: enhancing client advisory efficiency via AI-supported communication and assistants, integrating AI into existing tools (such as Microsoft and GitHub Copilot), and fostering innovation in the tech stack itself.