MongoDB joins hands with Lombard Odier, a Swiss private bank, to enhance its banking technology infrastructure. This step modernizes Lombard Odier’s systems and applications by integrating generative AI, effectively streamlining technical complexity and propelling the bank’s innovation trajectory.
MongoDB’s Modernization Factory team worked with Lombard Odier to create customizable generative AI tooling, including scripts and prompts tailored for the bank’s unique tech stack, which accelerated the modernization process by automating integration testing and code generation for seamless deployment.
Lombard Odier is leveraging digitization and AI to enhance its operational capabilities and deliver clients the best possible service and experience.
The bank initially decided to develop its portfolio management system (PMS) on MongoDB. MongoDB’s robust scalability was pivotal for this migration, as PMS is integral to tracking investments, facilitating investment decisions, and producing portfolio statements. It also underpins the bank’s online banking application, “MyLO,” employed by its clientele.
“To enhance Lombard Odier’s business strategy, we developed a technology platform that draws on the latest technological innovations to facilitate employees’ day-to-day work, and provide clients with individualized investment perspectives,” said Geoffroy De Ridder, Head of Technology and Operations at Lombard Odier. “We chose MongoDB because it offers us a cloud-agnostic database platform and an AI modernization approach, which helps to automate time-consuming tasks, accelerate the upgrade of existing applications, and migrate them at a faster rate than ever before. Having up to date technology has made a big impact on our employees and customers while proving to be fast, cost-effective, and reducing maintenance overheads.”
Also Read: MongoDB Announces Expansion of the MongoDB AI Applications Program“Financial institutions with as much history as Lombard Odier undoubtedly have large, complex legacy systems that have been supporting the business for decades. However, it is important for organizations to constantly evaluate these systems to understand if they are still serving their best interest today, and for the future,” said Sahir Azam, Chief Product Officer at MongoDB. “This can be a daunting task, but we are proud to have worked through this with Lombard Odier to prove that it is possible, and can actually be quite simple with the right technology. The transformation work Lombard Odier has done sets them up to take advantage of new, cutting-edge technologies which improve customer experience immensely.”
