Lombard Odier’s Secret Weapon: Building Tech from Within
Lombard Odier continues to bet heavily on in-house technology development. This strategy is clearly bearing fruit, according to Geoffroy De Ridder, Head of Technology & Operations and Partner at the Swiss-based private bank maintaining a significant presence in Asia.
Rather than outsourcing innovation, Lombard Odier pursues a deliberately selective IT strategy: it builds proprietary systems where it offers a competitive edge, and adopts market-standard solutions only in areas where differentiation is less critical.
This approach is no accident. «Our partners were visionary – they made an early decision to retain technology as a strategic pillar in-house,» Geoffroy De Ridder told finews.asia.
Seven-Year Overhaul Nears Completion
Geoffroy De Ridder, Lombard Odier (Image: LO Media)
Five years ago, Lombard Odier launched a sweeping modernization program for its core banking system, G2, under the name GX. Today, the most complex phase of the initiative is behind them: legacy systems have been retired, core back-office functions modernized, and new front-end platforms for advisors are ready for deployment.
Sobering Experience with Off-the-Shelf Tools
In select areas such as payments and client reference data, the bank uses off-the-shelf software. But the results have been mixed. «What the market offers can be less impressive than expected,» De Ridder says. «Our internal IT is extremely strong – we’re seeing that clearly in comparison.»
The key, he says, is deep institutional know-how. Many of the bank’s IT professionals have been with Lombard Odier for years and understand the business as well as the bankers. This close alignment between IT and business, combined with technical expertise and fast decision-making, creates a powerful setup.
Built for Constant Change
As innovation cycles grow shorter, banks everywhere are struggling to build resilient architectures. «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 observes.
Lombard Odier’s response is a modular architecture built on standardized, flexible components – designed to evolve and accommodate emerging technologies, including AI.
Investing in People and AI
Artificial intelligence (AI) is becoming a central focus at the bank. Lombard Odier is targeting three areas in particular: AI-powered support for client advisors, the integration of AI into everyday tools (such as Microsoft and GitHub Copilot), and the exploration of AI to drive deeper innovation within its own tech stack.
Underlying all this is a sustained commitment to talent and training. Lombard Odier’s tech-first mindset is not just about systems—it’s about people who understand how to build the future of banking from the inside out.
