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TK Elevator Automates 70% of Its Guarantee Portfolio with Komgo’s GTK

Date: 01/07/2025

As an industry leader managing more than 12'000 guarantees every year across 80 countries, TK Elevator needed the very best in guarantee management to support its treasury operations. Faced with such a vast portfolio, the challenges of manual processes, internal misalignment, and fragmented communications with financial institutions, TK Elevator chose Komgo and its guarantee management system to transform its internal processes.


The Operational Challenge of a Large Guarantee Portfolio

Bank guarantees play a crucial role in the construction sector by providing the necessary financial security for high-stake projects, but with over 80 guarantees issued every week across hundreds of locations, TK Elevator's yearly task was a daunting one.

With traditional Trade Finance processes being famously labour intensive, time-consuming, and decentralized, TK Elevator's treasury team was continuously confronted with operational challenges such as:

  🚩  Inefficient communication and delays with financial partners ;

  🚩  A high potential for mistakes and operational risks ;

  🚩  Difficulty in maintaining credit capacity and standardized processes across subsidiaries ;

  🚩  A lack of internal visibility and laborious reporting processes ;

  🚩  Internal misalignments and delays ;

These issues highlighted the urgent need for a robust, integrated digital solution that would not only digitalize guarantee issuance but also enhance connectivity with financing partners.

TK Elevator at a glance

Fast rollout, immediate impacts

The solution was found when TK Elevator implemented Komgo's flagship solution for corporate guarantee management, GTK, to modernize its treasury operations.

The transition from the legacy system was meticulously planned and the rollout was impressively swift. From initial preparation to full deployment, the transition was completed in just a few months. Data migration was seamlessly handled over weekends, ensuring zero disruption to business operations. Meanwhile, user training was clear and efficient, allowing over 100 users to quickly get up to speed and benefit from GTK’s intuitive, secure interface.


“The transition to GTK was impressively smooth. Thanks to Komgo’s support and intuitive platform, our teams were fully operational by Monday morning after each migration. We now have a centralized, user-friendly solution that brings clarity, control, and efficiency to our guarantee management."

— Name, Title, TK Elevator

The new digital workflow seamlessly aggregated communications with all TKE’s trade banks and insurers, providing end-to-end visibility across all processes and facilitating advanced reporting on credit lines, fee calculations, and guarantee status.

Automating guarantee issuance with Boost Approval

Faced with a high volume of low amount guarantees, TK Elevator needed a smarter, faster way to handle routine approvals. The answer: Boost Approval, GTK’s automation feature that accelerates the processing of frequent standard transactions while ensuring full oversight of more complex cases.

The system automatically distinguishes between:
Standard Transactions – simple, low amount requests that are numerous and time-consuming to handle manually, now processed automatically ;
Non-Standard Transactions – escalated to Head Office for additional review and validation.

This classification is powered by advanced algorithms and secured with a four-eyes check before instructions are sent to the bank. As a result, average issuance time dropped by 50% almost overnight.

Today, 70% of new guarantees are processed via Boost Approval—cutting manual work, reducing errors, and allowing the team to focus on more strategic tasks.

At scale, these enhancements have saved considerable time while improving visibility, efficiency, traceability and security for both the front office and treasury teams. It allowed TK Elevator to reassign valuable human resources to more strategic, value-added tasks within the organization by re-allocating 1 FTE (Full-Time Equivalent).

“We’re proud to support TK Elevator as they bring simplicity and control to guarantee management. Their move to digital is a clear step toward scalable, compliant, and automated treasury operations."

— Baptiste Audren, CRO at Komgo


AI and the Emerging Standards

This collaboration sets a new benchmark for 2025—but Komgo’s drive for innovation doesn’t stop there.  

With initiatives like ICC’s API standards, integrations with multi-bank systems such as GTK and Konsole are becoming more standardized and efficient—keeping treasury workflows agile and future-ready.  

Meanwhile, Komgo continues to embed AI directly into its solutions. Unlike public generative AI, Komgo’s AI is purpose-built for trade finance, focusing on reliability and real-world application. For Boost Approval, this means guarantees will soon be pre-validated against predefined rules and past transactions, further increasing automation. AI will also support draft checking, bank selection, and document verification—reducing errors and speeding up processing across the board.

Learn more about Komgo's AI strategy in this interview with Baptiste Audren, CRO at Komgo: How Embedded AI is transforming Bank Guarantee Management.


Conclusion

Through its evolving, interconnected solutions, Komgo is building an environment where financial institutions and corporates collaborate with unprecedented precision and speed. The collaboration with TK Elevator exemplifies this mission—setting a new benchmark for the digital transformation of guarantee management. By leveraging GTK’s full potential, TK Elevator not only unlocked major efficiencies but redefined operational excellence across its treasury function.

About TK Elevator

TK Elevator is a global leader in the elevator and escalator industry, renowned for its innovative solutions and commitment to safety, reliability, and sustainability. With a rich heritage that spans decades, the company has consistently transformed urban mobility by designing, manufacturing, installing, and maintaining advanced vertical transportation systems. Today, they also provides state-of-the-art solutions for airports, enhancing passenger flow and efficiency. Operating across more than 80 countries, TK Elevator continues to establish industry benchmarks through its state-of-the-art technology and customer-centric approach.

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