We had the pleasure of speaking with Liesbet D'hoker, Managing Director and Vice President of Kyndryl in Luxembourg and Belgium, about the evolving landscape of financial services in Luxembourg and how Kyndryl is actively shaping the industry's future across Europe. 

Kyndryl is a leading provider of mission-critical enterprise technology services offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world’s largest IT infrastructure services provider, the company designs, builds, manages and modernizes the complex information systems that the world depends on every day.

Kyndryl is doing a lot across the EU, but can you tell us how Luxembourg fits into the company’s broader strategy for the financial services industry?

Absolutely. Luxembourg is at the heart of our European strategy. It’s a major financial hub, especially for banking and asset management, so naturally, it’s a key location for us. We've partnered with major institutions like Banque Internationale à Luxembourg (BIL) to modernize their IT infrastructure—think cloud, cybersecurity, and AI-driven operations. So, Luxembourg isn't just part of our strategy; it’s where we’re also learning, growing, and helping shape the future of financial services.

You mentioned the partnership with BIL—what exactly is Kyndryl doing for them?

Great question. For BIL, we implemented a tailor-made private cloud platform and a software-defined network to support their next-gen core banking system. It’s not just about deploying modern tech—it’s about building a more secure, agile, and scalable foundation for their future. And we’ve integrated Kyndryl Bridge, which uses AI to improve system performance, energy efficiency, and even risk monitoring. 

So what that really means for end-users – banking customers like you and me – is faster, more reliable digital services, higher availability, and stronger protection for our personal and financial data. It’s the kind of behind-the-scenes transformation that improves your banking experience without you even realizing it.

Regulation is a big deal in the EU—how is Kyndryl helping financial institutions in Luxembourg stay compliant, especially with newer frameworks like DORA?

You're spot on—regulations like DORA are game-changers. We're helping our customers get ahead of the curve by embedding resilience into every layer of their tech stack. That includes comprehensive risk assessments of their third-party suppliers and aligning with DORA’s operational resilience requirements. In Luxembourg, where regulatory standards are particularly high, this kind of support is crucial—and we make sure it’s proactive, not just reactive.

How does Kyndryl help financial services customers protect their data when so many services rely on third-party suppliers?

That’s a key focus for us. In financial services, data security is only as strong as the weakest link in the supply chain. So, we’ve built a robust supplier risk assessment process that kicks in even before any contract is signed. 

We analyze each supplier’s capabilities, flag potential vulnerabilities, and address them up front—especially when their services support what's defined under DORA as "critical or important functions."

We also work closely with our customers to map out which services are truly critical to their operations. That helps us prioritize protections where they matter most without overloading the system by labelling everything as critical.

Can you give an example of how Kyndryl’s approach to supplier risk and DORA compliance has made a real impact for customers?

Absolutely. One of the key benefits our customers see is clarity. In regulated sectors like financial services, banks and financial institutions often face challenges when trying to assess how third-party services fit into DORA’s definition of “critical or important functions.” We help them break that down.

In one case, we worked with a major bank to assess all their outsourced IT services, not just technically but from a business perspective. This allowed them to prioritize security investments more effectively and avoid misclassifying services—because both underestimating and overestimating risk can cause major issues. And because we remain contractually responsible for any of this bank’s subcontracted services, they could report confidently to regulators with a single line of accountability. 

At Kyndryl, we’re not just enabling digital transformation, we’re engineering trust at every level of financial services.

On a more personal note—what motivates you in this role, and what do you bring to the work in Luxembourg, both professionally and personally?

What really drives me is the intersection of trust and transformation. Financial institutions are under massive pressure to modernize, but they can’t afford to get security or compliance wrong. Helping them navigate that complexity is incredibly rewarding.

Professionally, I’ve spent much of my career working with financial services in regulated markets, which gives me a strong foundation. Personally, I have a deep appreciation for what Luxembourg represents—a unique blend of tradition and innovation. It’s a close-knit yet globally connected ecosystem, where building trusted, long-term relationships is just as important as the technology. That’s something I genuinely value and enjoy being part of.