Hi there,

They might be the pillar of the financial system, but bank guarantees remain clunky, paper-based and patience-consuming. That landlords and commercial tenants require thousands to be created and renewed to underwrite lease agreements presents a classic digital transformation opportunity.

The fraud and error risk and an ongoing need to reconcile each against lease terms was enough to motivate a consortium of banks to create a solution.

The ANZ, CBA and Westpac-backed Lygon blockchain bank guarantee platform promises to cut through some of that hassle. It’s digitised the paperwork and legality behind it to serve up real benefits for banks and businesses alike.

At a time when many are still questioning the value of blockchain, Lygon has the potential to not only solve a big problem for banks and customers, but prove that blockchain really can deliver value.

In other news this week:

MIQ tech upgrade + Covid Tracer gets Bluetooth (pity there's no users)
NZTech briefing calls for govt to take tech more seriously
The new digital till
'Doxing' – your personal data is up for sale (by someone else)

Covid has hit the local education sectors hard. At a time when budgets are constrained, but digital demands are soaring, we take a look at how Victoria University of Wellington has harnessed Azure to help integrate its business, while still retaining internal ownership of capability.

Enjoy the read,

Heather Wright
Editor
editor@istart.co.nz

BANK GUARANTEES

Big four team up to digitise bank guarantees

Bank consortium builds blockchain platform to replace paper guarantee processes…

The bank guarantee is a pillar of the financial system. Retailers around the world – from single-store operators to international brands – rely on guarantees from their banks to secure leases on retail tenancies.

“We’ve digitised the paperwork, the process and the legality behind it.”

[Read more]

COVID TECH

MoH strengthens Covid border net

While Bluetooth finally arrives for CovidTracer app…

New Zealand has a new weapon in the war against Covid, with the Ministry of Health implementing a fully digital, integrated Covid border control system.

“Information is needed to give health professionals and government agencies confidence that the risk of Covid-19 entering the country is low.”

[Read more]

ERP BUYER'S GUIDE

GOV TECH

NZ Tech joins dots for new minister

Considerable opportunities, but…

NZTech is calling for a more joined up approach to technology, including a longer term call for the establishment of a technology branch within MBIE.

“It presents a considerable opportunity to advance financial technology, education technology, AI, blockchain as well as digital identity.”

[Read more]

ECOMMERCE

Smart home, digital wallets driving eCom

Digital tills ringing to new tune…

Smart home devices and OEM pay options such as Apple Pay and Google Pay are winning favour with consumers when it comes to eCommerce transactions according to new reports from Juniper Research.

“OEM Pay is seeing increasing consumer awareness, driven by its use in the contactless arena.”

[Read more]

CYBERSECURITY

Outfoxing doxing

How to protect against the weaponising of personal info…

Kaspersky have issued a warning to be more aware that we could be the target for ‘doxing’ and that our personal data can cost less than a cup of coffee on the dark web.

“It is that simple, but does require effort.”

[Read more]

CLOUD INTEGRATION

Wellington’s Victoria Uni embraces Azure integration project

To keep them ahead of the game, which is important with a new technology stack…

Victoria University of Wellington Azure project

Founded in 1897, Victoria University of Wellington (VUW) is one of New Zealand’s oldest and most prestigious tertiary institutions and is rated in the top two percent of the world’s 18,000 universities.

“They’re flexible, reliable and accountable. And they kept us ahead of the game.”

[Read more]

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