Jeffrey Dentzer (BIL): a bridge across 170 years

Jeffrey Dentzer, CEO of Banque Internationale à Luxembourg (BIL), explains how the 170-year-old bank embraces change while remaining the bank for entrepreneurs. Interview.

We prepare for the future while preserving what makes us unique: our Luxembourg heritage and the relationships we have built with clients.

How do you lead such a long-established institution in a world that is changing faster than ever?

Being 170 years old gives us no advantage, but it reflects a long history of adapting and evolving. BIL was created to support the Luxembourgish economy, we were frontrunners in financing the railways, then the steel sector. The Bank has successfully navigated major economic and technological changes. Technology and client expectations evolved, but our purpose remained the same: being the bank for entrepreneurs, serving our clients, supporting Luxembourg's economy. My predecessors embraced change because it always brings opportunities. The key is knowing what needs to change and what must remain constant. Today, the pace of change is accelerating, driven by data and AI. We must anticipate, invest and prepare for the future. Banking is fundamentally a people business based on trust and our ambition is to help our clients thrive, while ensuring we continue to be a trusted partner for generations to come.

How do you leverage data and AI without losing what makes you unique?

It’s very easy to lose yourself in technology. Today, data and AI can help us simplify processes, make better decisions, personalise services and ultimately deliver a better client experience. But technology is only an enabler. We have extended our partnership with Kyndryl for that reason: they focus on the technology, we focus on banking. When people talk about AI, my first thought is often data. High-quality data is the fuel on which you can launch the AI rocket, which means boring but essential work on governance must be done to create lasting value. Technology helps us to make more time for banking and for clients. At BIL, we embrace innovation and prepare for the future, while preserving what makes us unique: our heritage, our strong roots in Luxembourg and the relationships we’ve built.

In 10 years, what would make you say that the transformation of BIL has been a great success?

The first obvious element of success would be that our clients are still with us and they continue to trust us. Second, I would also hope that we've built a more agile organisation, one that continues to innovate, to grow, to attract new clients, to tap into new markets, as we have with our new branch in Paris. Third, as Luxembourg's oldest bank, our success is closely tied to the success of the country. If, ten years from now, we can look back and say that we helped clients achieve their ambitions, supported businesses as they grew and contributed to Luxembourg's continued development, then I believe we’ll have fulfilled our mission.