IBM
1657 Case Studies
Case Study: Lygon 1B Pvt Ltd. cuts bank guarantee processing time from 30 days to 1 day with IBM Blockchain
A IBM Case Study
Lygon modernizes the process with IBM Blockchain technology
Lygon 1B Pvt Ltd., a consortium of banks and technology companies, faced the challenge of modernizing a slow, paper-based bank guarantee process that was difficult to track, prone to fraud, and could take up to 30 days to complete. Working with IBM, the group aimed to create a digital, multi-bank solution for tenants, landlords, and banks.
IBM implemented an IBM Blockchain Platform solution on IBM Cloud, with IBM Research and later IBM Global Technology Services and IBM Security Services supporting the move to a production platform. The result was a secure, transparent, and immutable digital workflow built on Hyperledger Fabric that cut guarantee creation time from 30 days to less than one day, while improving reconciliation, compliance, and the overall experience for all parties.
View this case study…
Lygon 1B Pvt Ltd.
Nigel Dobson
Banking Services Lead, Australia New Zealand Banking Group Limited; Chairman