 Hi everyone, hopefully everyone can hear us in our presentation today. My name is Rudolf, I'm just waiting to see, hi there, can you please, yes great, you can hear us, apologise we weren't aware that we were on, but hi my name is Rudolf Salem and this is Ursula Hartdog and we are both from Ligon, Ligon is a mini Aussie start up and we've got quite a bit of history from the Australian banks, but we wanted to share this opportunity with you today to talk about what we do at Ligon, how we got started, how we use hyperledger fabric as part of our underlying capability and what we bring to markets and we don't really want to talk too much, but ultimately we want to go through what our Ligon art platform looks like and what we're actually delivering as a customer centric solution that benefits not just financial institutions but their customers and third parties. What Ligon is, so we are a digital market operator and we see ourselves as a marketplace providing digital financial instruments and we're starting off with bank guarantees and all letters of credit which I know in some jurisdictions and Ligon really eventuated and it has been a customer story from day one about five years ago where a group of property institutional customers got most of the banks into a room and demanded that the whole bank guarantee process end to end should be revised and to fix it within industry solution to look at it and it really came down to fundamentally a number of problems and it was all really around paper, it was all around the management of paper, the reconciliation of paper, the ongoing transactions around those specific bank guarantees and the length of time it took for issuers to issue bank guarantees to their respective clients. From that both two banks in the Australian market Westpac and A&Z which I was lucky to be part of, we did a proof of concept to test hyperledger fabric as capability to address some of these problems. From there on we continued, that was quite a successful proof of concept, we continued to do development and got more banks involved in Australian market and to help us in terms of development, setting what the workflows and protocols are around, not just bank guarantees but thinking ahead of what bank guarantees or financial instruments or digitising financial instruments would look like in the future. So you can say Ligon is designed by experts, by customers and product people from financial institutions. The capability we deliver is completely digitised, we are now a standalone entity that delivers customer centric solutions for all parties in the ecosystem around bank guarantees but also looking to build a network around digital financial instruments. So we can then tackle verticals of horizontals with other capabilities if you think about financial documentation etc. and whether it's transaction on these documentations or validation on these documentations and part of the beauty about our product and what we bring to market is we not only create a seamless workflow but we include standardisation of the underlying terms and conditions associated with the product offering and that is really key in terms of what we bring to market and key in terms of why our customers are excited about our capabilities why banks not only here in the Australian market but in the New Zealand market are starting to use Ligon. We have gone through many security protocols, cyber security etc., a safe, we are trusted capability and we are ready to scale up. Again it's a complete, ignoring the underlying capability and infrastructure which the Ligon platform sits on. We are digitising the customer experience, digitising the experience for banks and we are also digitising the experience for third parties. On that point we are going to actually then show you what Ligon looks like and just briefly go through some of the capabilities. Fundamentally what we are doing is just being an enabler for digitising bank guarantees but also how an applicant or anyone of the parties can request a bank guarantee, how that is validated by all parties and then how is that then become a valid bank guarantee on the Ligon platform. We do again this is distributed ledger, we use hyper ledger fabric as an underlying capability and infrastructure and with the simplicity that we will show you in terms of the front screen, the back end has the depending on the selection by the user, various protocols and workflows that enable the interaction and the transaction. Addresses paper, a removed paper completely out of the equation. We give everyone the same view of the data, we are able to capture an audit history that we will never be able to capture before in paper and we also remove operational risk and reduce fraud out of the system because everyone has view of exactly what that transaction is and for a third party, the recipients of these bank guarantees from multiple financial institutions, they can see them all in the one place on the one platform. I will now hand over to Ursula, she goes through the presentation and we will talk you through that just relatively quickly, I know we don't have much time here and then we will just kind of explain what those key inputs are. Share screen. Assuming that everyone is able to see our screen, we will login as the applicant in this bank guarantee process. It will be brought to the landing page of Ligon Arc, at this stage they will generate a bank guarantee by clicking the plus sign, start bank guarantee request, enter the applicant's details, those will generically infill details previously entering these details, they'll select the bank that they wish to utilise to generate their bank guarantee, at this stage there are numerous types of bank guarantees that we're able to process for this instance. The beauty of the platform allows us it's quite simple to add various types of bank guarantees and purpose types and that is a great benefit for customers as well. So again comes back to the underlying capability is really enabling here to allow us to to generate these financial instruments with key data points relatively quickly and easily. Something that takes now literally minutes coming down from weeks where the issuance of a bank guarantee from a particular bank. Again we reference our own standard terms and conditions and we create a bank guarantee and it's really literally as simple as that and this has been done to make it as simple as we work with customers and banks in the Australian market. So Ursula just went through an applicant's view, now we're going to go through a beneficiaries view and again because it's distributed ledger for it to be a viable instrument it needs to be it needs to be validated by all three parties. So the applicant in most in this case that and then the platform then notifies outside of the platform the third party and then that third party can action that bank guarantee itself. So they'll click on the bank guarantee that requires issuance, they'll confirm the details of the parties that correct the guarantee type, the guarantee purpose they'll either reject send it back to the applicant verify the details as to why it was incorrect it'll be sent back to the beneficiary for approval those details updated and approve. And therefore we've now started creation of that of that timeline and which is an audit trial with all the data visible by all parties. Now once that we have two validations this would now go to the issuer, the issuer to issuer bank guarantee. And in this instance because most banks have numerous levels of certification I'll just log in as the lower level staff member at the bank to verify the documentation they'll be notified by email or preference of communication that this document needs actioning they'll click on the bank guarantee that needs issuance confirm all the details are correct at once again at this stage they're able to reject and that will go through the processes from the applicant to the beneficiary to once again approve it'll be sent through to their level of approval what I'll do is I'll prove and you'll be able to see in the timeline the stages of approval once again. This area is undemendable it's time stamp date stamped and person or action stamped. I'll now go to the higher level bank manager who will assess the bank guarantee once again and at this level it's the final stage of approval once this is approved the bank guarantee is generated. So before that and that's a beauty of our platform for that you can have multiple interactions between bank issuer applicants or sorry applicants beneficiary issuer but it's only until when the issuer presses a bank insurance. So really what we've done and the other capability is taking a piece of paper put it into ones and zeros and code and put a legal framework to make it legal with binding instruments which now allows all parties to transact on see the same information review those terms of conditions and variations to those bank guarantees can be done completely digitally. There's no there's we have removed removed paper from the process completely and if you think about if you think about some of the capability in a bit of an impact it has for an issuer specifically this has reduced for about every thousand bank guarantees they issue and remembering these guys are issuing multiple bank guarantees saving them 2,000 hours worth of staff time physical handling of documents saves about 2,000 plus courier deliveries 10,000 pieces of paper for every thousand bank guarantees and not only that you're giving some you're giving parties 24-7 access of information. So even though Ursula and Ursula has gone through three screens this is the underlying capability is this is valid this is different nodes validating the information across each other and depending on the protocols or the action that you choose the nodes then behave differently in terms of which validation needs to come first or second etc. It is a private it is private it is a private ledger and we've been working for the last four years with IBM and and using hyperledger fabric to kind of design and build this capability. Now once you have a guarantee in place you have visibility you can have actions around that specific guarantee if you know whether it's a demand cancel uplift or amend those bank guarantees typical transactions you see on a daily weekly basis or requiring someone to get out of their seats to go to a to a branch or to send it through to an operations team or an issuer bank this is now a completely digital experience and why issuers and beneficiaries and third parties are looking to adopt the LIGON platforming in Australian market and New Zealand markets and from our perspective we are we are ready to scale we've shown so many benefits already using the underlying capability to not only to customers here but customers customers abroad and that was really what we wanted to kind of demonstrate in relation to the LIGON platform and talk about what LIGON is and why why Hyperledger was an enabler for us to be able to to build to build out this to build out this capability again coming back to our mission now we've created this network it is to be the market operator for digital financial assets and looking to build some of that into into other financial assets as well yes we are a platform yes we have created an ecosystem but more fundamentally we've created this LIGON architecture around it that enables complete digitization of the transactions end to end um it looks like we've got a few few questions coming through um can you speak to a little bit on onboarding process into the platform yeah sure um so that's part of the LIGON architecture around the onboarding process and it's simply we are a SaaS platform so from an onboarding of a user they'll go through our user terms and click through similar to how you might set up a a google account or any other online accounts we'll go through that do you have various validations about the the user and their and their linkages to organization and they're on boarded another question uh the session is scheduled scheduled at the end also individual bring their own P nodes so the individual can't bring their own P nodes but what we can what we can do is that those nodes can be lifted and shifted to any to um to any um any cloud solution at the moment they all see on under one but can be easily moved to a to a bank specific cloud solution but each bank for security purposes is another question has their own has their own node we've made it flexible for third parties to kind of share nodes as well and again the requirement for security perspective you'd want one bank to see all the guarantees that they've issued in one place but for a beneficiary you'd want to see all the benefit all the guarantees that they're a recipient of in the one place for multiple financial institutions um how easy is it another we've got another question how easy is on board new products besides bank guarantees um relative relatively simple it's something we're going through into the product pipeline i can't talk to that to that too much but uh if you keep an eye out on us but like on dot com um you can kind of see some of the new product and capabilities we're introducing um around various industries around various industries and various sectors so if you think about the legal industry and the insurance industry something we're looking at to apply apply now um this way um what is a what is a revenue model um uh again it's a SaaS platform so it's a it's a revenue model based on the transaction of usage very high level and i think we've actually run out of run out of time um so everyone thank you very much thanks for allowing us to demonstrate live on our capability and from Ursula and I um thank you uh appreciate you staying you staying online