ACI Worldwide (ACIW) 29 Feb 242023 Q4 Earnings call transcript

Ladies and gentlemen, thank you for standing by. My name is Kat, and I will be your conference operator today. At this time, I would like to welcome everyone to the ACI Worldwide Inc. Fourth Quarter and Full Year Ended 2023 financial results. [Operator Instructions] I would now like to turn the conference over to John Kraft. ahead. go Please

good discuss and XXXX On call, today's Thank company's morning, fourth will the year quarter we you, everyone. and results. full

and rest to at take remain call. Today's also statements outlook of this end. and forward-looking call will our will can of available safe the accompanying the XXXX, call our be Investor webcast found tab We The slides the and under all is questions your discuss we'll harbor and at aciworldwide.com subject the after like for events. financial Relations

our full You can both Behrens, Scott of find on the is our in President presentation CFO. are our Warsop, this which and the our release, and text press CEO; On both and with call SEC. statements and earnings website available deck morning's of Tom

out begin, City we upcoming our in Day, Before that sure wanted March I'll Tom. an make turn on aware call XX. you New we everyone over be the of was reach to invitation. With which if held York haven't that, will received Analyst to Please

you our joining I'll by Good CEO, XXXX thank to ability first strong reiterating opportunities I'll beyond. confidence of as market to comments thoughts on for some in and and our my year going call. and some in our provide start XXXX morning, performance. with about I'm high-level my finish take advantage

results in open and As usual, detail the financial that. questions I'll hand Scott, more for after discuss it over outlook he'll and line for to our XXXX we'll and

during that many unmatched ACI person the I'm year, partners June a visit that customers X ACI on top in then convinced XX and been point made know, those interim probably first even In as of more continents. And following longer-term that visits, team basis. of industry. customers, year as more employees our employees it in solutions, I've and since I've possible. with company personally a you of in last across than fellow world-class XX As time, customer to on and members all an more basis. met talented And CEO XX% And base is than a I've our countries the a

of first of substantial we future in going in XXXX. We to accelerate Our the growth expectations objectives. More and to start XXXX. a with moment, we line opportunities on went a that accelerate more and of in phases the year We continual customer our live several and EBITDA guidance performance. We position the industry expansion with growth builder track. delivered growth with We growth has a to in time the us and go change the phases combined market for live strength near exceed of in year. us that the revenue signed a XXXX, above that growth X% with program and customers I'm our last help and our implementation new in of this on of strategic X they're their position, XXXX, a large in puts to had this Biller provided with We year. achieve exited with segment with up or you saw results set in solid XX% strong, our and

we utility with interchange in the new is large program. to progress of our incremental to ramping a go middle track signed also continue live begin We improvement and and customer that make on XXXX,

XX% revenue in growth and of of those notable Our banking and saw a payment in anti-fraud segment real-time saw XXXX. solutions, respectively, XX%, a and cross-sales strength our

lead Our data in the anti-fraud intelligence proprietary utilizes big solution ACI artificial to and truly generated category. access to

de XX in To our more along central and we about infrastructures de supporting around than El the success signed up new Colombia; real-time globally now the in excited clearinghouse. the We're illustrate Banco X opportunities with continued real-time payments. X Nepal be scapes. world, area national central and Republica to our in infrastructures regional la quarter continue we including So this payment

lastly, a start to strong accelerate exited with We and a processing we while XXXX. to our a to QX best-in-class payments remain about XXXX, leveraging of environment. in Merchant excited rate of slow And secure though the choices the year segment, their bit our to consumers expect payment we in had growth, we optimal clients offer expertise providing help payment safe, growth a our

to Our demand fraudulent expect helping Perhaps proprietary billers protect our banking growing. to AI-driven particularly And strong tools most and transactions. and merchants our our strong in pipeline is are fraud from see importantly, we management sales segment.

our history, The the choice across As are payments virtually payments reliability usual our financial market world proven on including the driving the that suspect. think the of we everywhere. When of the demand the near and lower many the high risk, which only always fact seeing banks a firms work an I we're largest to technology expertise, address means a rely top. payments globe. by solutions, and unquestioned, significant in software are is we and ACI infrastructures of institutions intense our presence Because scalability the proven for call, already hub last and for our our are modernization. ACI's is analysis to this institutions maturation with, around on real-time on critical these mentioned world of need, list about reliability

great past payments not SaaS have regional offerings our and that did customers SaaS cloud possible. solutions, institutions take super our the often the large and and enablement we're and models this highly financial or engineering reliable software, made established have a ACI's infrastructure newer us to of in advantage mid-tier scalable delivery of it to support sized alike. Mid-tier hub, choice cloud making for Speaking on-premise

Day, market. net size hear opportunity more for historic bolster growth but at to accelerating of our I is the this Analyst an to us. It reiterate, about it You'll a our opportunity presents addressable want And rate. substantially already increases this new

benefit we'll we see growth year. further of as well go-lives XXXX XXXX additional sold in we and the as customer customers large in as on we saw year XXXX, Biller a segment, saw turn go-lives during of Our full a in significant last get

will continued and in In interchange deliver quarterly our deliver continue segment, with investments rate program, improvement improvement. revenue we into growth, are the growth our QX of the margin saw that expect success year, strongest combined We XXXX. our Merchant to of This off. paying to momentum carry

where In great new a in pleased of are customer segment the start. Overall, significant first I'm fact, way a year, the we signed company. week fuel store with in as a the we to

top strong We're below our we as we've leverage long-term accelerating and We sheet, managing promised. have a we're balance expenses well. our line long have target, our

strong a have We team.

Experience to them of President learning Product Juan Juan large AI, Beneathus, have and accelerated beyond. I'm in things strategy most Customer recently support in years that GoFundMe announce provide and many appointed XXXX and as President Katrinca now happy we expand as and learning, great productivity Braintree, generative who businesses spent that and and of SaaS are of of of overseen PayPal. Katrinca our to software the use members General Hat, of at us and more Manager models we've well accelerate is We new will growth before. already both machine positions at place of SaaS McCallum, Board Directors. X a strong former part which Vice Red who through also drive have today, company

Analyst Scott, of our want Day. you to to over it turn I I upcoming Before remind

Scott John York to attend turn on invite we online to business you XX. I'm mentioned, opportunities. in to we're going financials guidance. exciting global or segments in As Scott? City discuss over New it person event and March as an our We hosting that, and to With discuss

I'll in the fourth go over from our revenue our XXXX starting Thanks, to XXXX. up X comments Tom, X% quarter. and XXXX. revenue, to see we on questions. good XXXX. million, was key XXXX. Adjusted outlook from was our open million, from which solid then plan line first was X% $XXX EBITDA my Slide XXXX. underlying the compared up QX with recurring financial And morning, I'll We'll continue QX for for results everyone. up I QX to then X% takeaways for $XXX be provide QX growth

QX flow strong from QX activities growth XXXX contributed cash to double growth with $XX EBITDA of Our than XXXX. in operating million, more cash flow

segment increased Bank up results, QX look segment to As we was XXXX. and X% at compared bank revenue our the segment EBITDA adjusted X%

segment as expected segment segment XXXX. adjusted QX and during versus increased in we X% accelerating revenue improvement increased And merchant X% growth the EBITDA saw with as revenue the year. Our year, the we exited

biggest revenue and program. as Our improvement EBITDA XXXX. The the well with in interchange Biller segment segment new by saw with our is this increasing go-lives as in both and growth X% notable driven versus segment increasing progress improvement XX% adjusted customer profitability year-over-year QX revenue

adjusted XXXX, $XXX the flow billion. million cash activities with for the Turning and debt EBITDA year was up Slide approximately million, outstanding $X.XX from million, billion, with takeaways $XXX We $XXX Revenue next XXXX. X% to from hand for up up XXXX from on total ended full X of full year XX% $X was operating was in XX%. Cash key XXXX.

leverage so and of additional shares million XXXX terms our our of we Also economic facility Our in X was substantially million February, in year is a purchased of shares our refinancing of shares authorization. further have note for of of credit repurchased $XX ratio remaining outstanding. on currently target approximately we repurchase our below and down April on that debt XXXX, X.X% new million $XX existing from to set in facility X total in the far X-year was And here that beginning the same expire which represents in X.Xx QX X.Xx, facility. We at net as completed the an with million for X.Xx. million our have approximately is long-term XXXX here $XXX credit the

And expect in Slide to $X.XXX a with of to range our to finally, growth revenue outlook to of $X.XXX XXXX, billion we expect to XXXX continue revenue deploy share in to buybacks. portion X% billion. X% our to for the cash During XXXX, significant flow accelerate with turning to X we

range assumptions $XX XXXX expected and a is EBITDA on amortization Slide $XXX approximate to $XX to in is adjusted expected $XXX be to the approximate $XX $XXX expect find million. to approximate few expected to expense million. expense Noncash million is to million guidance X. you'll share-based additional million to $XX Depreciation modeling, to help Net compensation million million. We million. And of your $XXX with to interest

$XXX activity. million should around share excludes our Our effective And which future share rate buyback tax approximate count should lastly, XX%. be diluted

We expect $XXX to of EBITDA seasonality $XXX by to in XXXX follow a million, in to revenue range our range our $XX million. with revenue quarter million to QX be a be $XX million phasing historical and to of

debt, very visibility to guidance see we're and this time was And the into at the ranges the revenue XXXX that to mid- you XXXX, last in and strong the resulting growth generation strength that business, the with delivered in strong of X% our seeing XXXX. particular, in ratio we're base was flow year strong provided in the momentum exited with and which underlying combined in of end carrying we to recurring So up high and results, year of pipeline lowest That and next the in sets down up pleased leverage and the in revenue cash well license in sales to to summary, implementation our finally, growth in years. And year. renewals the maturity EBITDA X% us predictability the EBITDA X% of the our which pay X XXXX. used part we deliver in result

to rate our is ability the pleased now Operator? deliver in of Investor Analyst with long-term forward we demonstrates to our long-range at couple and this more for weeks. Day our in that, up line the look and XXXX line open growth about last outlook With a are results that we'll Day outlook questions. new at our provided We sharing in

Instructions] [Operator

line question Jorn D.A. the your comes of Heckmann Davidson. first And from with

give I see you your more interpretation a if or wanted numbers. bookings bit color to could on little

those at the licenses year-over-year both when year a services down in on following now side, the And how bookings extrapolating that should in we should license that bookings impact? the total interpret model? I and how look directionally in that when You see -- And ARR the with service ARR historically, to do kind getting and bookings bookings. XXXX, ARR relatively certainly concerned stronger we the incorporating and those, be an year? for and have start with into of of bookings, -- this we mean, the terms down and

we ARR Yes. of have the it a talked business, the booking Pete. we've The bank that now aspect is capture quarters. Scott. for of this doesn't Thanks, Yes, about predominantly one is is really the number on-premise. which metric This in success

is you're sales. up up, we've been in quarter-over-quarter, whether our and that's success. table so talking looking seeing And into been is That the to that about our license this XX% quarter. We the service where the at year-over-year range. And bookings put we've really XX%

of in of in if exclude segment. it's coming success more It's a over X Dragonfly, to that's constant of if X% banks the digital code, been our of in which currency banks XXXX, revenue has seeing terms segment been banking look the we're last So revenue growth, our Really, bookings out and on X% but function strongest a been you basis. at coming up of you banks. from sale, it's really years

XXXX so we And in that we've deal ARR thing see 'XX. that comps. have the is recall to sold license if in ever largest and side, bank in we're I'd on out the bookings growth was point the in strong services Biller other you The our XXXX continuing only did in segment

XXXX. deal sort that and in -- it's recur size did not So of

Yes.

just only made. the think that the was have I Scott point would just I I'll reiterate point

an So mentioned ever the way. largest those Pete. the signed had that that, bit in in you you. in that in the we And XXXX But didn't. we of When is X total not a expect up bookings that we're deals Scott to numbers, of of business, you anomaly confident and that showed of in the history strong, XXXX. And very little guidance ARR to and just course, very did repeat were presented we've XXXX

And do had that. for EBITDA net a That's then that interchange, year of Great. the you release the appreciate bit. press adjusted said terms expand in margins to in expect you

rate same even maybe little revenue? a grow that imply that faster bit at the than would is total going about or maybe to So interchange

in I wouldn't generally say, necessary I -- with. line would

of think have go. 'XX to put that for improvement the between I Obviously, all there. but we've more we room still had still terms initiatives big place, in 'XX a some improvement we in and there's

segment. than growth So the revenue it's in in rate of or I Biller with less say would line total that

We I and expansion though, room big improvement margin. that, enough a but think fair to expect repeat -- in see to don't it's I improvement Yes. as to Scott say XXXX. mean had we continued we said, do we of have

Our next Beasrich. Cantwell question Jeff comes from of Seaport the with line

And of Can about for you talk pretty thinking gave guidance out and you Can revenue how your segment. good. maybe to which growth looks revenue you XXXX X% X%, about the playing, for break growth that by you're us? And with XXXX. give are should then And segment, us you flavor there specifically see clients? right in for could some Maybe to on opportunities you maybe seeing banking we expect now pipeline. your about tell what us what there your

Yes.

Biller I On the your X you sales to of, function is look it, call think the XXXX if One in growth, at relative XXXX, growth. grew same-store X% growth a things. segment that just but was XXXX, really

And the ramping business. is elements the with some client go-live and the repricing XXXX. Second piece dealing had third net interchanges of of new of in we the was

into, to But the carry exited fall be growth it, back be -- of about our And would high and as then would call consolidated average. And XXXX, of look next to CAGR of elements within year, terms to X to should mean still The kind exit stronger only growth we XXXX. So XXXX the or back X%. in business which may like repricing rate a drag rate. total really that within going kind talked the bank a couple, growth some last X% X-year was be be merchant the expect X-plus X% you X-year merchant This left. was go in kind next on X of there. end has to are about, Billers elements those that year company. we'll There the essentially into we're will year year, rate But will has back been business talking at percent. of X% of be in about it that that reversion. which

they So within that each little but X% to bit dynamics growth, pretty up different all segments. line by X% a the of much

was about I -- in your think and the on segment then bank pipeline. the And question Yes. opportunities banks,

seeing flavor types a but of the number different give in, on depends of it. I'll of kind for world and So a which region opportunities, you're you we're of it

we our -- in increases we renew with price to So customers. continue existing see as

are those primarily X things: based and on -- -- on So volumes.

than last buy to increases capacity us between and So did from this one. more the inflation happened they and related the price renewal need that has last then they to time, the

So in opportunities country payments my to seen real-time yet in institutions. increase And that's depends with are, institutions coming and one of those extent, -- coming. And not. driver. volume But volumes that these are handle comments on But see cash I many do we make thinking -- in like new more cannibalizing payments look it are a you're and and those earlier, I can they're those we our then at transactions. And that's which and by the about places real-time sure developed they're that America understanding have what markets. mentioned you that because volumes infrastructure -- those or payments my are knows Asia, financial are driven financial how whether ramp large everyone of these Latin

sure they're to rest -- talk that those moves don't make the ready proven infrastructure, sure want sure they're it. Latin for cash not asking comes about scalability, do sure take our If handle that do for help to that's continue And of it, the to to And volume. advantage but -- reliability. bank opportunity real-time that software, can to need They're America some they when changes, and their looking and they us already trying have then make in for increased they're make for us to payments, they so the a are. they lot of doesn't them. They that to with have to so volume, And to of talk our -- they our the have they if it to as transaction, are. they're a making to

pipeline So being That's that strong. It's key drivers. volume the of dynamic that those ready about are one is and for The growing some they flavors of very ramp know is in eventually. coming it. the

is And real-time much understanding payments but there's great. footprint. we'll is that, of broader That's It's your my your about opportunity than Okay. on follow-up for FedNow, focus biggest much inbound globally. one my so on on that the is getting questions be

would want today. real-time mind characterize et you is you where out would most How Europe, much here, significant mapping for Analyst the to Day I opportunities -- don't Asia, But you mind payments is it preempt So it too your you see would cetera? but that? LatAm,

Well, I be India, flipping the that's to and trying it's rest the far, the are same world real-time the you the payments all in catch-up, but payment largest just the the Brazil today across extent, real-time to largest markets and we're the probably don't are European but mandated we're world of by real-time -- X this, the I'm of largest Eurozone. -- not think of -- on the I but above page, know playing this, in all support payment world. And on so and Those Bank Central availability China. the markets is, some has because

that's terms Asia, real-time Europe. one you've in volumes just you getting Latin in that's comer signed lot real-time in the changing. And with an of but continue America the also real-time of growth Colombia of is mentioned, and I volumes in then we I is that central outside It's payments course, certainly to -- focus example got in small a payments payments, America, -- but supporting significant I Latin it's in of -- think attention. more payments So relatively Europe, of up in Bank that and And real-time America, have a infrastructure and Brazil. you will still on Central the mean see their but Latin

opportunity. lots So of

at mean, me, new be Now. yet. are. on we in. they lot the Fed rate. signing to now months only Fed but in exact interesting, around marketing new and too, since Fed benefited has mentioned not Fed clearinghouses, don't at them an institutions You is Fed that front But started. And of thing. transactions the has payments a still I really have the expected the have few beginning, It's I pretty volumes from number institutions of that the has grown a what's FedNow. we're the is getting a And specific published small And from But done the real-time increasing number all the

are increased So see starting we volumes. to

that -- I a extremely the take are take continue real-time of the while generating deal most us. they're for good going that's is think us to thing to position me, our now. of help increase large. But wrestling interesting discussions a the before volumes biggest again, the it's with payment issues to for anticipation in one And to volume It is us. customers really with right puts the

real-time thing solution XXXX that terms metric, of other right mean, that, The little from over Yes. growth if little very coming now was I XX% any, in FedNow. just only I'd is, and payments add XXXX -- to very revenue in our a of is

tipping So -- real outlook a specifically, point we're our contingency on in really or is a term FedNow from international longer-term there's of there's coming outlook growth lot predicting on really on or XXXX our historically near markets. the a no our where not

Nabhan comes line our next And from Inc. Charles E with Stephens, of question the

schedule. through could think was for I we renewal in comment banking on hoping the the model you 'XX, As

around would said cadence anything helpful. we I third was to relative it was -- you in the know banking a big it think the distributed for as would the had a big that you model past more the through be quarter think could you be 'XX. quarter I say there. for evenly And But little renewal

and half would your pretty kind fourth Chuck, bank phase to timing. for modeling renewal revenue Yes, I at look second consistent always would I of 'XX We're have predominantly quarter in just that with going XXXX. the

XXXX, model you XXXX should up with set So consistent you for it well that if timing.

standpoint. both to I verticals a the a drill into what and bit segment the a new sense a bookings and as for follow-up, And little it. Got Biller growth are the from same-store wanted specifically get driving

drove single I know Yes. that that it. vertical a don't there's

growth the the the the think seen utilities would largest. sales I X the where we've be those that because across mentioned, we've new good telecommunications segments. verticals of support, and that we growth But but biggest

capital Got sneak more it. allocation. one on And if in I could

You're pretty a spot in standpoint. from balance a sheet good

You that the -- your priority buybacks. had mentioned is

do you flexibility. have However, that

you certain on Anything if and your in towards So your across go-to-market you I could would businesses? comment appetite accelerate areas if say could M&A be was targets would potential wondering that your there helpful. potentially

say, Well, acquisition. this be share the banking capital we I at obviously, we -- been I XXXX. think but would of 'XX -- years We I at an point, both a would buyback in that really XXXX make balance delevering the is this have always always mean, approach opportunistic. allocation. did was and and to just done target think to and the similar just balanced But accretive, the since there be if opportunistic very we'd the something it's number divestiture year I say would of is digital delevering. would business buybacks targeted I of I look our

comes line Genuity. question Our of next the from with Vafi Joe Canaccord

for on Fanny Paul is This Joe.

touched GenAI remarks. GenAI currently? and a follow-up. you And what Tom, give for some of Can us there? are using near-term in you're your how off, large I some And examples have First you on you opportunities language models

us cases Sure. Sure. for with X GenAI primary LLMs. and use

is about prevention, over and continued reason heard training patents use before. of -- part first you've decade AI. it's and methods a and the I'm been I've we the there of have for of lot using use a all, of we AI which in detection and We've products our fraud AI So you've fraud sure detection models. And it. excellent creating of proprietary and and have solutions. the algorithms prevention And mentioned

case one. customer So is X that's use number case number service. Use

inquiries products, several we and good products, our Microsoft's our FAQs, we But a we then have use and as documentation And for We some all get example, service productivity CoPilot CoPilot. of able loaded of the solutions. And includes from all we've for directly loaded our completed it have products, to very the the time And with able take in productive them with customers can going questions that to the are it of people improves available they handle used that deal of team. to people secure trained and of that of our get a model, that with from customers productivity same that make having. We're to piece are now or so us we're every -- have into we our software ultimately, the answers issues so that Wickes, we products, about customer an haven't answers to And that this for on to but faster environment. outages kind our base we've customers longer-term fraction representatives, of AI, of training. top it the knowledge our our it. inquiries get for

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most here way extract a but is the that from proven logic I find the have is several, interesting we We one to created have software.

by because human a AI. of in taken of that a in a generative we loop, our just So word banned minutes. matter legacy the We we functionality include using minutes. it create matter I that and some we've proven micro in AI, output people bot. legacy, And the have ACI. But micro then the use inside of trust of created a do call the a of service of out services you of And course, software, can't

micro team and And services so create then we check tweak we have and them validity. these our

to taking possible team as or members. micro in services getting then as accuracy these about we're close that we're XX% and with our So XXX% roughly

or And by the we're And team. -- XX% micro probably XXx using our productivity so AI. more at that we're services, XX% seeing in getting from case -- XXx, least not of getting overall, improvement we're productivity these more,

very that So move I exciting stuff, it's know it's on us every but time pretty application, that don't and rapidly. to every we'll allowing get

those primary are So use the cases. X

the is and see about opportunities if follow-up developments recent if the assets. you how -- on this ETF. digital of any And services given space crypto thinking products my you And now? Are any are great. bitcoin, right some you spot the providing and That's you like on side

just really what makes was pounds of digital I But of it's medium question, central was to I about one to or crypto the in Bitcoin. much built so it products dollars I in here, that or have of our are to sense. the answer Thanks. applications. And or founder us, your ETFs the to many It a it matter walked transaction those ability and currency, in matter very doesn't use we the bank Yes. whether where our doesn't is, we've bitcoin seen. talking watching before perfectly happy facilitate explosion absolutely really to

the our ecosystem. going a So we're smart customers here you that. be I we're large going use. medium in very ACI, I can Bitcoin tell continue. I a enough commerce, I want on to all mechanisms, fine know. I all right commercial to beach relies extent, products But important might on with we're to wish I that We're ETFs the But obviously might make whatever the and player -- consumers the don't are. now. not payments Digital don't somewhere. sure of of to be what impacts and to support was

[Operator Instructions]

Craig comes of Howden. question the from next with Santen Our are line

results. James is on This George. for Nice

driving quantify able those growth payment you of bank couple couple real-time the last moving what's sort is last quarter, quarters what would the mentioned the pretty there? of revenue get about also the next of to on over lastly, segment been then efforts? And So Could rate recurring in you then market. strength talk update Could think sustainable solutions over for a encouraging. an you have down you growth years? the of the we sort be And

Yes.

the driving what's the the revenues, really -- -- maintenance the on on on software. it's think just license bank recurring it's side, I

And -- then and have mechanisms both of function so in new those the built is -- of inflationary a CPI price. that that's It's customers. just go-lives

So that's probably bigger on in recurring coming SaaS the the revenues business. the from main year-over-year bank growth

XXXX. go-lives of had a in but sold the bank and that bank ramping SaaS, overall of SaaS. And that's significant component we've in So nice not it's business, customers bank growth

are -- it Yes. hasn't assets. earlier everybody, I we future a conversations asked We've about million pipeline modernization, in -- those And mid-tier, talking that mentioning focused billion shown but remind conversations for to on XXX mid-tier USD we're we've a about yet. That's mid-tier. just lot And XX mid-tier. of talk primarily opportunity. And about to about this have then really isn't much and we many those and USD up reiterate going, development -- of got with was when been the you

referenced mentioning? important. And and and/or So that interested financial banks, cloud growth is several customers, so why those capabilities, development that's just and of infrastructures growth driving where not that still models and than but large banks. And very those conversation, they expansion, SaaS that's we Scott that great are Scott the so call pipeline $XXX it these it's be of the tend to was and that's generating we bit this have the smaller, and -- they call -- seen we're and sweet the that But mega mega are why been sort billion just spot we've signed -- mid-tier, that of has great there. what's a mid-tier, everybody historically, institutions. our in that's it's more -- might little up,

we -- expectation to I bank mean, be, that has the at be be natural in going healthy products been same as cross-sells Yes. double-digit to the for of software similar real-time have capabilities. going blue-chip customer detection cross-sell that And terms of to natural I and like say base customer are with in forward the you very base us time -- new typically would going to real-time long what we protection. is and growth, have broad existing our know, a to a customer our I should is fraud payments those base. And look growth it if

should healthy future. the double-digit those in both growth have areas So

natural in final a Scott absolutely that. mentioned the on are point cross-sell just mean I payments real-time things and right. well. extraordinarily fraud go And together Yes. -- those

X So we often together. package the

a offering, offerings. So couple of it's great great, great

you've momentum in on Great. and of me. and changes adding you new Can logos? sort and for landscape the seen Last there seen one just competitive touch Biller the Merchant given any -- just you've

Sure.

of a So the in tend of see I wouldn't some change say to that same that. competitors. seen I've lot We

some I about strong so start wins last Biller that Biller, me and talked in year, we've before. -- if I -- year let we've of think obviously, the with very

that, and were we've that we success is Western One of a still couple think 'XX-ish. end if years, seen of don't the the of I finished think you we Speedpay Union, I reasons the know, back digesting acquisition from

so our running And it, definitely and growing that's that to worked attention to full able were and we expect well. to turn business the and we well, to continue work

primary that's So the I Biller. think in driver

big 'XX. a in there's start, of we year going continue that's of very and good finished side, a the kind strong, seeing slow a did thing. the have we're again, I into as 'XX, the think change bit On that we mentioned, wouldn't to same I pretty signs say Merchant

with is And so up. year. business already the do and better growth has that we that's been should ramping And primarily this to see sold

visibility channel example store, consumer, use. And good in retailers is a tend little large wants because acquirer that for global solution the an in be our no -- want predictable, spot looking it's I very everywhere. typically be are that don't very large the there gave, business. tends experience, consumer very really they bit from the tends handle is them reason they to -- And they can banking to very their to sweet be that there a can't global bundled whatever to for acquirer the the So consistent experience whether like it online, positive

across the experience we and work And and very at consistent acquirer so board. that we or and online, to that they any want positive do make able that consistent are experience the can with because till

We're at target So that good to it, success is market. our very there. and sweet we're spot see continuing

Kraft, the at to I turn time. are this call There Mr. further over you. questions John no

the us well forward everyone, in everybody. We Have for a up our Thanks, coming day. weeks today. Well, catching and your joining thanks, time at Analyst great as appreciate to as Day. look

conference. today's concludes This you. Thank

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