Fair Isaac (FICO) 29 Jul 202020 Q3 Earnings call transcript

Greetings and welcome to the FICO Quarterly Earnings Call.

During the presentation, all participants will be in a listen-only mode. Afterwards, we’ll conduct the question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded, Wednesday, July 29, 2020. And now, I’d like to turn the conference over to Steve Weber. ahead. go Please,

issued McLaughlin. Will On afternoon that Quarter Good of year. you describes joining our press for Relations. Thank Mike Call. fico.com and the the to webcast in XXXX. management on call, will Lansing. at now, I’m compared Third sec.gov. or CFO, the order operations the Investor understanding over reconciliation and CEO, by of Certain today Earnings under G statements cause the conditions results company’s a I’ll in SEC, from team. a financial uncertainties I’m of are the the from And available call in quarter regarding Act facilitate issued each characterized results FICO presentation Regulation comparison non-GAAP to July and SEC, release could President and of Steve website release most to Relations to we include filings the Today, Reform FICO’s prior from on this of available the our materially. Will and of And Those the many you. or the joined forward-looking our Factors the filings. GAAP actual our release financial earnings results statements thank for earnings including Lansing; involve in of also website with Weber, available page may discuss the Investor to run prior Statements business. particular, may at schedule concerning contained financial impact the through as comparable personnel be certain this on is Copies the A also and those these differ will SEC’s Litigation of uncertainties measures the measures. such XXXX. rate statements Private that Investor measure. Securities made to This company’s will Forward-Looking in COVID-XX non-GAAP in business, Information replay portions macroeconomic to turn of company’s and refer the be schedule The call Relations Please Regulation of today are Risk company’s this G website Vice XX,

Thanks, you, third earnings and for us this for joining and Steve, families and staying call. quarter safe pandemic. go thank we are hope everyone, our as your healthy you I through

are model very We say continue to Most remaining primarily to worked work of offices I’m has from us. for this pleased home. our closed. well

very and implement meet in fiscal remain results our able that had I’ll our quarter the development We presentation the results section customers innovate, third Relations the our am of on go of another today. we what during slides posted quarter, that with serve of slides strong we’re seeing business. those strong. we’re resiliency some demonstrates to Our our And the serve. to website. I’ll our report we which productivity remarkable very I markets over discuss pleased be Investor referencing our deadlines, and metrics our of solutions. some

X, per year, net of net GAAP Slide non-GAAP million reported period and with same $XX our $XXX income the earnings which income revenues million, we last EPS GAAP $XX of We of quarter and on shown revenue of of As delivered We highest million $X.XX. delivered $X.XX ever. was flat share. non-GAAP

highest cash company quarter, also in quarter flow of the single history. the free million We $XX delivered in

and of in move the our by from strong liquidity. a can see, continue total quarter. $XXX into we new As have actually generated deals have to quarter. We very of million reduced $XX we We the you end pipeline about X, debt fourth our Slide million on bookings ample as second

when year, due quarter revenue to last software application revenue. down renewal X% this large Our was the we to have comparison difficult

This volatility due record revenues. primarily had recurring license up up increases revenues despite and Decision quarter, was XX% Software transactional XX%, revenues quarter in in Management the quarter, primarily Total prior in year million. both $XXX segment was upfront we Scores strong XX% and credit up XX%, to another totaled the business, were lower down were to the channels. with revenues. growth due application In versus markets. BXC partner indirect this myFICO the the

On to as interest the with the are XX% over up volumes period that quarter be and in year. economic the up uncertain down an auto, over In quarter area the same in volumes significantly as side, the of at encouraging of This is improved low revenues can the highly this strength We throughout the the were rates. quarter. volatile mortgage last BXB balance is times. saw due markets start especially

in furloughs. and and new institutions slowed deal other acquisition originations these record cards with and marketing the lending, financial For card down Obviously, were throughout volatility quarter, unsecured volumes there’s unemployment still markets great as a of efforts.

to The during of changing is general, FICO we assessing outcome tool Index the and We be Scores. that to decisions Last through less FIFO down introduced desired score navigating in pricing, can lenders analytic system risk downturn. risk. assessing credit to a economic risk prone helps bands helpful a to and Score cycles. even borrowers of economy, goes and Resilience credit the access precise restrictions more complements broad down try and FIFO credit Resilience an mitigate lenders, tighten more an economic as investors credit and the flow can changing pricing The in FICO to in is to which across consumers economic also informed identify Index, make continue the risk during resiliency cycles. and month, precise innovate in In the in rapidly that financial

we As we navigate now due of to additional markets our have economic yet to but data economic through with full-year the our uncertainty. pleased climate, I’m retracted extremely widespread performance quarter, current business. Last have stabilize. points, the guidance We

our we guidance, additional give as are offering visibility are fiscal into we year. metrics won’t various we formal while how So finish trending

an stand versus date Slide at what of quarter, our X, and performed original showed look updated guidance. see to version you’ll we last how year we where you in QX If we

trending well BXC and We’re original of ahead Scores with guidance. our both BXB in

Software behind economic as the slightly side, reduced On maintenance and has volumes activity volumes. in we’re slowed transactional

We in revenue. license services and also sales have risk

environment, the But plans quarter commit deals. highest quarter tends a clients to difficult And fourth accelerating to the central a of role. we again, Our specific us. uncertain see for revenue be We transformation play to pipeline sales we their have digital with numbers. economic it’s strong where

side, guidance. we’re spending expense our was in embedded the On below well what

have what of will versus year. As likely we the beginning we a some savings result, expected the at

pieces, the able be it’s likely we’ve that previously and environment believe hit difficult and business later. we’ll near-term and economic resilient guided many to our At the numbers, we same over work we’re Mike still eye income very with model, are the moving turn But to I’ll like income we ways details. actively many ever through a to now financial there faced. strategy. health is for most net business managing toward an summary now difficulties In time, this long-term to some While pre-tax I’d thoughts call our the have share further the

the with afternoon, Revenue prior for was $XXX million, revenue X% the everyone. prior from up $XXX Will, the up quarter. flat good year. X% Thanks, prior million Year-to-date, was from year, and and quarter the

by year. down was same period license primarily This $XXX decrease were revenues versus segment Applications the in revenue driven XX% last revenue. lower million, Our

customer may though under an you due in we annual large as we recognition recall, which require very a As had year component QX XXX accounting build to license even standards a last renewals, revenue subscription. ASC upfront

XX% period Software our QX were up applications The our due million, same was end up Software million to in from were platform. SaaS we million from for the up $XX year, down DMS flat segment, QX, XX% increase had decision second last $XX and efforts last quarter, revenues XX% in where billings revenues significant primarily the previous bookings $XX disruptions quarter sales XX% from COVID-related at over last but the Decision our management the quarter. the year, subscription and March. year. In Management were of versus

same up up from third quarter, segment region. derived Finally, our XXXX. from period, revenues Americas XX% period XX% revenues same the last XX% XX% the In our year. our were were million, over fiscal and from BXC was total BXB of were Scores revenues up QX $XXX

$XX license from region X% Asia-Pacific. down X% EMEA services. last remaining professional for prior revenues included last $XX the million XX% a $XX of revenues year, generated our from quarter of up quarter. XX% totaled XX% from XX% Consulting as represented were were quarter, million the of yield. of Recurring and service sources SaaS and the from but over generated revenues, These in maintenance that million, from million revenue of and an software XX% derived transactional bookings bookings the $XXX XX% and was down year software quarter, and delivered a revenues the XX% total were quarter. were the transactional but revenues Bookings $XX increase XX% for year, Our revenue last derived in SaaS from up or total million quarter. million from $XX previous the X%. implementation period current for Revenues cloud

$XXX from decreases to and totaled other travel, million expenses quarter. expenses. in the This quarter, down million $X this primarily is operating discretionary due Our marketing prior

moderately expect higher. expenses We to be QX

the this XX% for $XX year. prior quarter our schedule net Our shown with was operating as GAAP margin in non-GAAP Reg flat G income quarter. was million the

net income year. $XX which was was the X% up non-GAAP same Our quarter, the quarter for million last from

was included $X resulting from activities. excess rate tax effective stock-based XX%, about quarter this compensation Our benefits which of tax million

the tax rate for our expect effective be We year. around to fiscal X% XX% to

cash same million tax working tax year, accounts to flow recurring quarter the cash XX% XX% million. at excess primarily Free of Free high our the before reminder, the reduction $XX is unusually XXXX. $XX a XX%. from cash for benefited to increase last of compared the flow receivables in X this in quarters was million flow As globally. $XXX quarter related approximately was rate an these the a capital QX for trailing large period to end Free year-over-year, benefits

million quarter up at the ops, which to due to sheet, offset cash share partially from is of had in quarter, we generated by million end Turning last $XX balance cash, from the the repurchases. $XXX

credit. our in face rate further $XX the that the of million of end we the a weighted of At on We on facility million drew notes million, of July. $XXX revolving million interest Our maturity average total to quarter, X.XX%. drawn had debt line for pay senior is value $XXX $XXX with

and leverage XXX,XXX we recall for announced credit line for ratio our the on the $XXX of back million today, at share calculated price X.XX, you repurchase. may in of quarter bought We million shares per revolving new as third the for $XXX revolver. of board average covenant $XX Our X.XX an And was as share. is authorization

economic uncertain fiscal turn we are current Finally, final not comments. XXXX. as that, for formal environment, With the Will to said, the Will for guidance over back of providing remainder because of financial some I’ll it

fiscal I’m As and we for year plans FICO that work future. confident is for build fiscal finish the XXXX, well our positioned to

withstand to our to uncertainties downturns to economic manage through strategic built initiatives. are without commitment We’re taking current our and sacrificing steps

As call of now the provide analytic And I’ll back I’ve of solve than to most said before, to and great we more team are software And a to their we Steve solutions have our we customers the is important in assets. value difficult dedicated problems. Scores both the Q&A. stewards turn in over helping ever. remarkable manage the

Thanks, Will.

please now will your take the open line. questions. We Operator,

Barclays. Instructions] We you. do Please from Thank Patnaik with a go ahead. [Operator question Manav have

guys. evening, on question BXB My Scores Good you. is Thank business. first the just

light XX% us. the felt think bit a to little I growth

then I last you pricing the versus that the lending element what through hoping your in or there. missing quarter, mix volume even price mix So us there, was just of actually walk and you could like maybe different categories was the between

little Manav, ever a that the volume so a of the quarter expect like I lighter, out volume Yeah. that over between The as broken the bit some one, you’d price. and know was price. this don’t we’ve mix was

loan Auto seeing And you view results more And, strong. of report we’re happen the to Manav, origination on that. things that Look, I’ll our just directional after for from on to also the bureaus Obviously, they’re Equifax things, you in personal we business, be can and of side underlie particularly the and little would after in card see TransUnion, a earnings period. what some Scores maybe on very, very credit picking trends that quarter Visa. the speak give BXB down. same to the up, And side mortgage seem showing. the saw the the volumes we’re volumes but were –

maintain certainly trend that at also Now, I going across there think suggest bureau itself. you that improving, other look the the volumes, is forth. to X segments, what but that’s to the that And, well pricing of strategic data the that. no terms when cards, seems suffered worst the is the we category, pricing assurance the, is but took that in mitigate in helped you actions so our credit pricing category personal actions And and loans, understand course, of

Okay, activity the forth? mean, in signed new got clients in And BXC it. you deal That’s side, just is some pretty or helpful. impressive that’s then, a onetime there like so any number, there, I

that’s No, clean a pretty number.

We seeing consumer sales. And it it track credit directly and their in how can are improve genuinely it’s partner both BXC in and showing score in interest environment. myFICO.com in our and this they

budget starting you clients major and maybe hear on maybe the see on side just question. the where Software it? on on could you and kind then, Got And any more more last delays Scores conversations side? pricing pressure your of issues in the are with even the maybe one to side, Software Will,

really haven’t we No, had that.

are things than a have little more bit think they moving slowly I historically.

transformation, is upgrading there That we’re and taken are on steam said, think kind they customers there. digital their ahead on full of I And our additional solutions. everything this center do. that front care with being

slowness experienced haven’t really we there. So

right, a lot. thanks All

We Please have Wells from Bill Fargo. question a ahead. Warmington with go

Good evening, everyone.

Hi, Bill.

Bill. Hey,

Equifax guys. – So, hey,

and you those in I guys And results days. indicated June maybe July. improving So Equifax and are know lagging XX results typically TransUnion by both

them them July? those to showing the Are up your results? And in they’re so results. you I Did you wanted June seeing improvements see describing in that see are whether in

some that, you’re right them of that roughly These – again, it’s indication We lags on stuff But, so basis will that theirs. not our comfortable get aren’t by track X We final. absolutely early final. pretty weeks. and our I’m numbers saying stuff

follow supplier the little year, concerned like just were strong on Got a concerned second the from big BXC, accounts. new Manav’s that about meaning in since of of it. the are comments, the very they lot aggregators not a indirect very days banks seeing a trying add demand the half up not are the TransUnion that that because Also these noted though, on to they are quarter. at space banks, they a aggressive to the looks were

you much And so, can, touch-base on see you with to than level the can we I that just whether continuing, volumes with those comfortable inside – felt wanted growth better because so. of

growth to on an is focused, environment it’s it the hard And in ever forecast more The interested with before. this. the that their pleased they’ve and we’re thing going future what’s in Look, we clear seeing one like had credit score always that’s we’re with than more though consumers myFICO. in been are

consumer in it seeing our We’re partner stuff.

would would again, so, But trend continue. I hope don’t And that know. we

demand UltraFICO the that for been and How’s Boost, Experian Yeah. how’s been?

of FICO score now, success having the with very that’s well. it’s you know, benefit Experian Boost. because a So Boost is doing there’s mean, And we’re largely Boost is to a – boosting FICO as I lagging UltraFICO and every so and happens. time that

you just whether software have outsized want on been And some And for when it? slow. wanted the of you the the I see start approaching ask I time time. to guys now to going software rate was side, investments to was making investment in software felt in check to some to in like Got

tremendous on appetite Management Management that our getting all What have and top size kinds I for now is what of seeing that cases then adopting Platform solutions new we’re and can’t I Platform, Bill. new bigger. promise, solution, would use are solution, is deal it. tell Decision of – that banks And our you make Decision our we is our and building

the strategic require like At direction. being – does we time, same investment. it So in vindicated the we’re feel we

margin will scale multi-tenant to continue investment we We more margins SaaS When up improve? time There’ll business our be pour to in. some over and have scale. improvement as returns and

the services So will And bit little professional professional margin and improvement. – there’ll think, there. be to will become of go which some a I also products be install easier, simpler down, a benefits our services as proportion

will are invest those would are to this staff. the of like long those the timeline. that feels our I decisions, give as market the for continue it we given rate appetite are tell those at you but intelligent you smart can’t So factors like I decisions a as

sometime the of products then being banks on the platform are meaning some There months, built able this you timeline your solutions about being their about top the having that. mentioned and building some that developers Does that. talk a XX ecosystem on outward, or DMS is turning use of do salesforce.com own DMS on taking next of some tools adopting I you’d whole time-to-time, the developed of to platform. to those know You that you’ve internally XX Workday, customized your over have to and generations talked tools and you’ve solutions the tools own similar – from maybe that was – to that develop and new them actually lot how of still…

that. we’re And APIs solutions top build an year the this our this on and and focused so – be will That’s market part very much always Yeah. a reach be and on year, had, It’s way and other basis, XXXX, of borrowers financial resellers we IP. to very the us services. of which basically outward extraordinary when solve that verticals our besides on available for others distribution are able way our that It’s intend will to platform, year that’s very to for limited is problem strategy. go the we’ve down coming

much floor. the Yeah. Excellent. insight. All Thank very you for right. I’ll the yield

Bill. Thanks,

from go Meuler question ahead. Baird. Please a have with We Jeff

Thanks. Yeah.

about the questioning is of Sorry, XX-day line aware lag. I but if wasn’t introductory, kind of Bill’s this of

sure I’m correctly. want it So I to understanding just make

paid not in arrears because only at end like month, credit a to reported you you So of been on you the pulls that June, basis at you recognize lagged and the saying you’re for basis? yet lagged revenue it’s the actually kind it’s have that paid but of a the are not bureaus in on

Mike, want answer do you to that?

determined terms No, the quarter. period, estimated it’s days, for not Yeah. purposes, revenue conversations And that for and final that Cash have the – able quarter and payment close We in the But very revenue recognition going not for we weeks, payment them. accrual the are some our flow an a we this. we’re basis. before. revenue we with get – we is we go individual billing reports, we lag means in with a the like it course batch those revenue call we’re an end recognize report don’t June until bureaus we take with and those with But on our for historically, relationship wise, arrears, terms on the normal after don’t for quarter. like do wise customers as based But recognized. get with revenue have to of mentioned speed so to into appropriate in a customers

don’t bureau a don’t We’ll happening weeks. we what that partners. at know, So in know, in couple know our we genuinely is help? Does of July

does. you. or That’s mix some you’re going in spend then expenses if where something? marketing on it premium, was Scores for more for leaning there’s you have the business. more or the guess, myFICO, products that, bureaus expenses in to And and helpful. just if myFICO tri-merge Yes, Thank curious, I a the like driving What’s on shift

in that we’re investing Index. of it Resilience the is much FICO So

more mentioned his that. maybe about he Will to remarks, talk briefly As wants in and

the the and Scores the taking innovation steps Index, for of primarily the marketing you our well business, the we’re around Resilience that as work but driving see other the increase increased in outreach as what’s implementation work, parts work businesses, dramatically other development the haven’t there. We

that is myFICO. cost factor goes myFICO our with small up, expense up, have in sold go volumes one then of because as goods we the a And

Right, right. Got it.

new or I platform So historical the you don’t kind that common isn’t engagement understand on solution? on the where down generating enough the know, them? or But Like come how How there curious, platform? X if retention can can help size as or revenue a additional you give. And land more understand? series years product you for big the a DMS net tend a DMS know off just then, or examples X of road, I of time revenue metric are and does you just much us help customer are up expand that us to

say So early it’s mean, we’re days. what – I I would

And so lot have to said, we it a around data points don’t looks of conclusion. which build That really it’s a good.

absolute what Decision had have they to happened you still for top biggest the banks, where have adopting have XX our of very and complicated us, they customers, buy consumer super a stay the So top not some Platform we bank situation That banks, all solutions, FICO decisioning. tier point yet. and biggest Management yet systems hasn’t yeah, we’re the our facing

down. with a tier However, it is happening

platform. had And have so, and were X we’re decision around decisions good-sized different that have and said, that that. made all ago, say, to we’re myFICO build going And market I would then so doing adopt it. up kinds we going yeah, standardize some of the small it, And years pretty credit to now banks some banks we’re moving decisioning we to

sometimes they’ll recognize start and a they were the And in – market point for opportunity. the solution expansion with it’s

on once they lot it’s top been And putting deliberately, adopted. to very of cases a of with different a platform use it sometimes, whole the view do

So about gone. pretty way happy the the dog food, is we’re it’s eating the

you very All right. Thank much.

question from is with Needham. ahead. go Kyle Our Please next Peterson

of there in can that the about taking of last seems It the evening, quarters. want Is just where kind of SaaS be expect for piece good we growth any we’re I enough we business. there mindful large rolling to were Or of? Hey, management had few you’ve just chunky start to of Thanks the I make this some momentum like decision question. business. able to that several there nice on sure for piece need the to be the strong guys. deals like growth the to continue? wanted thinking

it’s – volatile, I little smaller that is I still. a part – fair it’s the think is that continue. is a obviously, our growth because business the bit will this think of number mean, to

percentage our on the a salespeople top or so X is said, It And very world it a with our there evermore the on way can – very much the it. That different numbers. platform, have we’re smaller way years move it quickly, are of banks basis, solutions because dealing it’s X future. And than is was ago. It’s buying the selling. is are we it

So while still picking have of legacy will and legacy long we be for do. time Management steam. what because solutions to product, they’re they at The a Decision sales best-in-class our come, around really up Platform is

years. in that fact subscription. But we SaaS sale, needs it be the That me X at as let deliver can XXX sell cases, And it’s subscription on-prem once for It a little question, nuance technical the it’s distortions It’s if for under rules. is when in to that. a upfront, an just some product portion, add recognized a ratably good recognized all because X, most accounting ASC and despite on-prem revenue a create bill it. you

be health can alone, in any the whoppers that our forward reason Look, those best that, we’ve reflecting to are to had like quarter, that if lumpy call underlying it out. business. particular So not pull of the big for do we’ll and there

of pretty This between normal. mix is normal the and revenue a of the recognition sort quarter, was types growth it

just which the any see want of savings and follow-up some the on be able kind margins. lower types get to see a the appreciate – do provided lead Great. longer-term can that slide guys gets you right gone And whenever That’s entertainment then of we’ve there rationalize world – you really expenses, you to Nice the cost little when those in quarter. you other are expenses might mean, might And obviously now. good deck have a have for some on travel, guys that I to upside the this Have this COVID a bit the through guys I process. just found of as more… color. color

stay. don’t had good Yeah. these We with here of savings back We go ourselves. – a It’s some are it imagine am view that travel, a to level we we’ll we’re to I that of the question. wrestle of before. ever

way Zoom all involved less that us we’re travel. using more and now like doing our not can with if have is finding but at customers everyone – is, what contact our our I we comparable, and more And of just think adept not more customers video. with

so much more and a lower cost. it’s – And obviously and efficient

survive some unnaturally a in I post-COVID said, right now. low is That world. would So it to going imagine of it’s

So it the level be year ago than to you was it an can now, a basis. from can go up at expect to it’s it lower ongoing you expect on

Great. That’s for guys. and questions, very helpful. taking nice the quarter, Thanks

Stephens a question have from Inc. Huff with Please Brett ahead. We go

Thanks my some guys. green helpful think question afternoon, chart put, guys X, that you taking Good where Slide had or I had for I question. a quick red on boxes was you the it X and boxes.

wondering, should seems harder box they’re kind those green we and in that Scores imply, of a there’s XX, targets little like the might XX some Just it fall those sure because want seems the numbers. not the are – what Scores category? predict? to number and hittable those to it Or seems that boxes risk to and But that make I green understand boxes boxed, the given those red is

conservatism predict. to a little our – I’d hard say a on it’s to predict. call little It’s part, it’s a harder it,

the Okay. That’s you’ve it got the and that on varies I update Can helpful. SaaS-ification the know near out remind I product? just TRIAD where is with et full SaaS of cetera. out of in to Falcon the GA the us some by And you then product SaaS-ified, making, update bit manager are little which live. originations a quick the we of a on are of and/or know already products. coming and those you coming guys progress each I products know, kind

We’re you our at look franchises. than if halfway process more through top the

our Director So platform of platform, on is which Modeler. Blaze, platform. call originations the now manager now Strategy rules is is engine, as the on version on you new the Decision TRIAD, mentioned, now we the called

mean, So a those be there we’re longer. yet undertaking. those making But the Falcon, debt we’re we are ones progress X I’d I manager. another there. and soon. that on that’s biggest have say, will very coming – And Falcon massive will release it, working There’s – aren’t take

then I I And it that from a quite from license was is, think down revenue bit. question last – was know the some Falcon XX%. of was down

I that basis, a I’m of year give script. to of the than see told any to there kind rather us was sure that can impact? if tough difficult kind were I comp help color be back the you on year comp. the COVID numbers over Is us impact think of might some the you what us that go not from if

out but the volume of it. part the down a of volumes part bit. don’t are We that’s break it, But somewhat,

Okay.

the vast was Yeah, of whoppers this of in just that recognized up the had had year, and We while the quarter. couple not of third only in quarter happen certainly a and and front renewal to a those comp. all once majority be it last

That’s great. needed. Okay, what I Thank you.

from have Thind ahead. question Jefferies. Please go [Operator We a from Surinder Instructions]

be posted in good was you But kind there results incredible calling revenues. segments. and are kind reported, Thank you. Actually, of bit the that of kind it’s I perspective, quarter, following predictors Scores generally auto that that results guys widely just business, the the question credit, to industry this about guys, from of of disconnect been mortgage, on a they’ve based question I the what generally, good volumes, the mean, whether my seems you Scores up really of about of or on earlier a volumes some a fairly

fairly credit when for bureaus And do they with have would the industry, at I that be I data mean, other you reported made an delta volumes stronger could then activity types any what example, of but looked color like industry if was that reported, to originations… than mortgage consistent of card up data And what at their the bank activities, color so, and as was that or for of there terms much might data, helpful? the have their that any was I auto suggest. the in credit some look marketing

less of so really bureaus, that an fact that, I in the there. say mean, you. be thing narrow than would Yeah, see some answer the do that I A would we lead less don’t I general, have you’ll gen for

scores, related FICO couple scores so question, Biden-Sanders X, to any would revenue newer And say, agnostic data one as Task up scores? guys guys, was upgrade newest continue scoring. thank is Force you the recommendations put credit long another alternative potential support to, Scores. you. more of you then, let’s of the of benefits which somewhat Unity would XX. And there some were that the weeks for you using from your as FICO experience Okay, clients a inclusive of And recommendations Or to credit in terms suggest being just follow-up the are the FICO the to versions of if use clients that ago

say I’d latter. it’s of more the

and scores, we up We’re latest get better because because not people them, we results. move agnostic. they’ll think we to but the And greatest more encourage to charge for

no, I wouldn’t uptick – scores, don’t expect newer they no. And so, a to revenue say that there’s migrate as

or in scores, or of revenue And driven, terms any then volume in you provide monitoring revenues provide? question the type helpful. less be such of relationship around might that’s maybe that like any be driven, able to percentage figures color ballpark one in other able color That’s – that you as that might maybe more of to that’s terms are

I follow little the some by by question. revenue mean, not Scores volume all and I is I’m of at driven level bit our a sure price.

to as the but just piece. the use to get then if what at example, monitoring an cards was we trying I were credit origination volumes, I volume, there’s is was there there’s marketing obviously, guess the

like would monitoring based assuming be have. a would headcount more certain on bank the I’m so, And that

less sense want guess, accounts. that to And the their continue they all so that COVID to, monitor I would to in environment would the subject of be

closely. continued if mean, monitoring ever. bank than vigilant more interest our focused from they’re and more customers and I see anything, we Yeah,

Okay.

But to also based maybe – scores account practically, pulled. which give on is you number volumes, the those more, of them, are we call what management

volume there’s driver real for difference management originations. versus no So account there in the

Okay, thank you.

further this there And no are at questions time.

to forward call. all you we look soon. again Thank you. with joining speaking This you ends Thank for and today’s

your thank That line. participation. you for please the concludes disconnect your for to call I We today. you ask