Lombard Odier, a global Swiss private bank, announced a partnership with MongoDB to modernize its core banking technology systems using generative AI. This collaboration has accelerated the bank's innovation journey and reduced technical complexity. The initiative enabled Lombard Odier to enhance client services and drive cost efficiencies.
Building on a decade-long relationship, Lombard Odier selected MongoDB as the data platform for its GX Program, a seven-year initiative to update its banking application architecture. The bank initially developed its portfolio management system (PMS) on MongoDB, which is its largest application managing financial instruments and powering its online banking application "MyLO." MongoDB's scalability was a key factor in this system migration.
MongoDB's Modernization Factory team co-built customizable generative AI tooling with Lombard Odier, including scripts and prompts tailored for the bank's tech stack. This accelerated the modernization process by automating integration testing and code generation for seamless deployment. The bank also modernized other applications and used generative AI for a marketing application, significantly speeding up code migration and regression testing.
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