Lombard Odier Partners with MongoDB to Drive AI-Powered Banking Innovation

Lombard Odier Partners with MongoDB to Drive AI-Powered Banking Innovation

Hey Digital Banking Fanatic!

Lombard Odier is stepping into the future of banking with MongoDB! The Swiss private bank has partnered with MongoDB to modernize its core banking technology, using generative AI to accelerate system upgrades and enhance digital experiences for its clients. The collaboration has reduced technical complexity, cutting migration times by up to 60x and application moves by 20x.

“We chose MongoDB because it offers us a cloud-agnostic database platform and an AI modernization approach, helping to automate time-consuming tasks and accelerate application upgrades,” said Geoffroy De Ridder, Head of Technology and Operations at Lombard Odier. This initiative is part of the bank’s GX Program, a seven-year strategy to drive digital transformation and seamless customer experiences.

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Marcel


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INSIGHTS

?? TS Anil explains why Monzo Bank will ?????? do Mortgage Financing and what part of Mortgages are a good business. Check out the complete 20VC podcast episode by Harry Stebbings where the current Monzo Bank CEO talks topics from Layoffs, Downrounds and Low Employee NPS, To $?????? in. Watch the full episode

Monzo Bank will ?????? do Mortgage Financing

DIGITAL BANKING NEWS

???? MongoDB collaborates with Lombard Odier. They work together 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.

?? Viva.com merges e-money and banking licenses across Europe. The company will provide businesses a single value-driven platform for payments acceptance, card issuing, and banking that will accelerate the adoption of the latest technology, with unmatched convenience and efficiency.

???? STC Bank launches operations in Saudi Arabia. The bank has completed its pilot phase and received clearance from the Saudi Central Bank to launch digital banking services in the Kingdom. It will leverage the clearance to launch financial solutions that elevate banking services for individuals and the business sector.?

???? Arie Finance signs with SaaScada. The platform will specialise in cross-border transactions, offering customers a personalised, speedy, and safe account setup. It will embed multi-currency accounts, payments, and access to a best-in-class FinTech partner network across multiple geographies.

???? Aldermore Bank selects Temenos to launch new small business savings notice accounts. Commercial Director for Aldermore Bank, said: “This strategic technology investment will help us to rapidly expand our offering, providing more customer-centric solutions and exceptional experiences for the underserved small business market.”

???? Revolut is finalizing the details of its official entry into Peru. The neobank has already hired an executive to lead its expansion and is now fine-tuning legal details to comply with regulatory requirements, including the formal application for an operating license from the Superintendency of Banking, Insurance, and AFP.

???? Monument Technology appoints Simon Featherstone as Chair. Simon will lead the Board and work closely with the Executive Team to build the company into a market-leading tech platform business. Also, he will play a vital role in shaping the company’s strategic direction, strengthening relationships with potential clients and investors.

???? ABHI joins forces with TPL to acquire FINCA Microfinance Bank. This acquisition aims to expand access to financial solutions and accelerate financial inclusion across Pakistan, also, enables ABHI to introduce a range of services, such as gold-backed loans, salary advances, savings accounts, and value-added offerings like bill payments.?

???? Deutsche Bank & Yonyou help Chinese enterprises to go global. This collaboration will help enterprises optimise financial resources, reduce costs, and enhance risk control. The partnership aims to deliver efficient domestic and cross-border payment solutions.

???? Money Squirrel partners with Moneyhub for open banking. Moneyhub’s Open Banking-enabled API technology powers Money Squirrel’s platform. It empowers businesses to make the most of their money by automating the saving of future VAT payments into market-leading interest accounts.

???? Monument Bank hired a McKinsey alum as its CTO. Shaun Bohannon joins with the goal of providing high net-worth individuals a "private bank-like experience." He joined from Virgin Media O2, where he spent the last two years as digital CTO serving as a Senior Director of Software and cloud engineering at the consultancy.

???? Would a UK exit help make sense of Santander’s sprawling empire? The bank is exploring a number of strategic options for its UK business, one of which is potentially exiting the British retail market where it has had a presence since 2004. Continue reading?

???? Telcoin received approval for its Digital Asset Depository Bank Charter. This approval marks a significant milestone in the integration of digital assets into the traditional banking framework. It will issue US dollar-backed stablecoins to facilitate its safekeeping and seamless integration into mainstream financial systems using independent node verification networks.?


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