Lygon is set to go global, with the successful guarantees-based technology targeting new markets in new countries – and according to Nigel Dobson, Banking Services Lead at ANZ, it’s all because Lygon is a real solution with an identifiable problem it can solve.
Speaking on podcast ahead of the Sibos 2020 financial services conference, along with Hari Janakiraman, creator of the Lygon concept and Head of Trade Product, Institutional at ANZ, Dobson said Lygon’s clear mandate was behind its ongoing success.
“The reason Lygon has been successful and will continue to grow at scale… is the problem it is solving is substantial and meaningful,” Dobson said.
“Not just for the beneficiary client, but for all three parties in the transaction. Everybody benefited from the implementation of a digitised instrument on the Lygon platform.”
Dobson said as the project had refined its capability it has seen clear opportunities to scale to help users.
“I think the most-important [opportunity] was to realise this problem around data guarantees is a global one,” he said. “We talked to colleagues in New Zealand, Singapore, the US and Europe, and they all say ‘we've got exactly the same archaic paper-based processes’.”
You can listen to an edited version of the conversation on podcast below.