Apr 26, 2023

Who are the teams winning from digital bank guarantee adoption?

Bank guarantees are typically handled by finance teams, but the benefits of digital bank guarantees are much further reaching than their paper counterparts.
Customer Success

Legal, sustainability and management join the teams reaping the benefits of digital bank guarantee adoption.

Since our inception, Lygon has collaborated with some of Australia’s biggest financial institutions and organisations to help transform their processes with digital bank guarantees.

With a growing number of customers integrating our platform into their operations, we have seen first-hand how a range of different teams are now feeling the benefits of digital bank guarantees.

These benefits range from a reduction in disputes to increases in productivity.

To showcase how various teams can be impacted by the adoption of our platform, we have summarised the teams we have watched benefit from our platform below.

How are finance teams realising the benefits of digital bank guarantees?

The finance team usually handles the bank guarantees of an organisation, so it’s no surprise we have witnessed digital bank guarantees introduce efficiencies to this area of their business.

Our customer's finance teams have found that reduced paperwork and simpler internal processes have led to significant time savings, reduced the number of resources required to allocate to the process and overall, reduced our customer's exposure to fraud and loss to name just a few.

How are legal teams realising the benefits of digital bank guarantees?

Legal teams across Australia are finding it easier to manage an organisation’s commitments with digital bank guarantees.

A significant reason for this is the ability of the legal team to have full visibility over all bank guarantees in one place.

As all parties can see the progress and status of the digital bank guarantee from the platform's dashboard, many of the risks associated with a lack of visibility are eliminated for our customers.

The immutable nature of the ledger these documents are stored on also means legal teams are no longer burdened with ensuring bank guarantees are authentic and legally binding, giving them peace of mind that they can trust their data.

How are operations teams realising the benefits of digital bank guarantees?

Our customers' operations teams are also achieving benefits from digital bank guarantee adoption.

Typically, operations teams can be hindered by the paper bank guarantee process, as it can limit the visibility they have over the financial exposure of the business, and often slow down the speed of execution on projects whilst waiting for a paper bank guarantee.

With the adoption of a digital solution, operations teams are being given the visibility they require over their organisation's bank guarantees, and they can now rely on the efficiencies achieved from issuing or receiving bank guarantees instantly.

How are sustainability teams realising the benefits of digital bank guarantees?

The removal of significant amounts of paper from our customer's bank guarantee process is an obvious benefit for the sustainability teams of our customers.

An additional benefit though is our emissions calculator, which has also given sustainability teams the ability to quantify the benefits of digitising their processes.

As more of our customers set ambitious sustainability targets, the ability to offset their bank guarantee process and access figures on specific emissions savings makes the sustainability teams of our customers part of the list of teams with access to a more beneficial process.

How are risk teams realising the benefits of digital bank guarantees?

Similar to the operations team, the risk management arm of an organisation requires oversight over the exposure of the business, which is usually limited by the nature of the paper instruments themselves.

With a digital solution negating the need for extensive document management, our customers' risk teams are benefitting from the oversight our platform brings to the bank guarantee process.

Digital instruments have also removed the risk of loss or fraud, as the reliance on Distributed Ledger Technology means an immutable record is created for every digital bank guarantee, making the lives of our customers easier.

How are management teams realising the benefits of digital bank guarantees?

Again, visibility has been an issue with the paper bank guarantee process and has plagued management teams across every type of organisation.

Management teams are expected to make important decisions to improve the organisation's performance, and paper bank guarantees have hindered this process, as it limits the capability to effectively oversee a holistic financial position of the organisation.

Management teams that have adopted Lygon Arc now have increased visibility and real-time analytics to add to their suite of tools to assist with effective decision-making and efficiency.


The benefits of digital bank guarantees are far-reaching, with a range of teams reaping the benefits of digital adoption and becoming more efficient, sustainable, and transparent.

For more information on how digital bank guarantees can benefit your team, get in touch for a discussion and demonstration of our platform.

A display photo of Nicholas

Nicholas Farley

Marketing Manager

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