Banque Internationale à Luxembourg (BIL) has replaced its 30-year-old core banking system as part of its digital transformation.

Following the complex transformation project, the bank partnered with Temenos to adopt a new platform to increase the efficiency of its banking operations.

Founded in 1856, BIL is the oldest universal bank in Luxembourg and is recognised as systemically important by the European Central Bank. The company currently holds around €44.1 billion in assets.

The tech firm said that the move, which saw the bank switch to the new platform in one weekend, will enable BIL to quickly launch new products and improve customer experience through personalisation using data.

On the platform, BIL can integrate and automate a wide range of products including cash accounts, lending and securities. Itcan also handle larger transaction volumes with increased efficiency.

“This was a major transformation project culminating in big bang go-live across all business lines,” said Jeffrey Dentzer, chief executive at BIL. “On the Temenos platform we deliver best-in-class products and services for all customers and ensure sustainable growth for many years to come.”

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