Building the BIL of tomorrow

BIL is adapting and transforming to tackle the challenges faced by the banking sector, outlining its major objectives for tomorrow in its Create Together 2025 strategy.

Since 2008, regulations governing financial institutions have tightened considerably. Clients and investors have called for increased transparency and protection. All banks are affected, and as a systemically important financial institution, BIL has had to adapt the way it operates as well as its offering. The international banking landscape has changed considerably too. Increased market volatility reduced the attractiveness of certain investment products, and the European Central Bank’s negative interest rate policy led to the following fact: classic savings no longer pay. As digital tools have become the norm, consumer behaviour has changed, with clients wanting fast, flexible and practical solutions. Traditional banks must keep up with these changes and adapt their infrastructure and services accordingly. BIL has made this new environment their own, and will continue to offer clients real added value with its services and products.

For all these reasons, the Bank’s Create Together 2025 strategy gives a clear direction and lays the foundations for the BIL of tomorrow: a bank that’s ready to rise to the challenge, looking to the future with optimism.

Building the BIL of tomorrow

More human, more digital

BIL is an independent bank deeply rooted in Luxembourg’s history. Reputed for its expertise, its advisors are at the heart of its business. Thanks to its multi-lingual teams, risk appetite framework and ability to act on a local and cross-border level, the Bank is in the position to provide services well beyond Luxembourg’s borders. The ability to combine reliable, standard services with high quality advice will be essential for solidifying the Bank’s reputation as an investment advisor. BIL is entrepreneurs’ partner of choice, offering different value-creating services that meet both their business and wealth management needs.

BIL’s two main private banking hubs are in Luxembourg and Switzerland. BIL will continue to develop this activity internationally, especially in the Chinese market with the support of its shareholder, Legend Holdings. This growth will be in accordance with the bank’s risk management framework and backed with innovative digital services to meet more digitally-aware clients.

Value chains transformed

BIL is currently leading a major transformation project on its Core Banking System, that is, the software system which powers all the Bank’s services. This new IT system will be delivered in 2022, improving the Bank’s quality and speed of service in all areas.

A new way of working

The banking sector evolves in a complex environment. With all the ongoing transformations, it’s the perfect opportunity to revise current procedures to achieve greater efficiency. Innovation will be key for success, as it will give both clients and staff accessibility, centralisation and consistency in everything that the Bank does and creates. The Bank’s values “Create, Collaborate and Care” will continue to guide employees, helping them achieve its strategic goals.