ANZ Bank partners with a consortium to transform financial guarantees using IBM Blockchain

ANZ wanted to use the distributed ledger technology to digitize financial guarantees between landlords and tenants in commercial property leasing. Working in a consortium with Westpac bank, shopping center operator Scentre Group and development partner IBM, ANZ successfully completed a proof-of-concept project that streamlines burdensome paper-heavy process. Now, all parties have a single source of information that increases efficiency and reduces the potential for fraud.

"What I love about these solutions, particularly when we’re using distributed ledger, it validates what I believe very passionately about the technology, it’s a fantastic way to share and secure information in an enterprise situation," explains Nigel Dobson, Banking Services Lead, ANZ Bank. #IBMClientVoices