WEBVTT 00:00:00.000 --> 00:00:07.348 align:middle line:90% 00:00:07.348 --> 00:00:08.390 align:middle line:90% SPEAKER: Hello, everyone. 00:00:08.390 --> 00:00:10.190 align:middle line:84% And welcome to the How Connectivity 00:00:10.190 --> 00:00:13.760 align:middle line:84% Can Accelerate Your Journey on the Digital Bridge Webinar. 00:00:13.760 --> 00:00:15.770 align:middle line:84% Please note that this event is being recorded. 00:00:15.770 --> 00:00:17.270 align:middle line:84% If you object to this recording, you 00:00:17.270 --> 00:00:19.550 align:middle line:84% must disconnect from the conference line. 00:00:19.550 --> 00:00:22.160 align:middle line:84% I will now pass it over to our moderator for today's webinar, 00:00:22.160 --> 00:00:24.073 align:middle line:90% John Melvin. 00:00:24.073 --> 00:00:25.240 align:middle line:90% JOHN MELVIN: Thanks, Lauren. 00:00:25.240 --> 00:00:27.560 align:middle line:84% And good morning or good afternoon, 00:00:27.560 --> 00:00:29.830 align:middle line:84% depending upon where you are in the United States. 00:00:29.830 --> 00:00:31.520 align:middle line:90% And thanks for joining today. 00:00:31.520 --> 00:00:34.060 align:middle line:84% I think we've got a tremendous amount of information 00:00:34.060 --> 00:00:35.120 align:middle line:90% to share with you. 00:00:35.120 --> 00:00:38.380 align:middle line:84% But as we get started, hey, let's think about where 00:00:38.380 --> 00:00:40.030 align:middle line:90% technology is today. 00:00:40.030 --> 00:00:43.870 align:middle line:84% We have all embraced technology and in many different forms 00:00:43.870 --> 00:00:47.090 align:middle line:84% as consumers, as well as in our personal lives. 00:00:47.090 --> 00:00:49.420 align:middle line:84% But let's think about something really quickly. 00:00:49.420 --> 00:00:55.840 align:middle line:84% As consumers we ever so see digital methodologies 00:00:55.840 --> 00:00:59.260 align:middle line:84% and payment options come our way through our smartphones. 00:00:59.260 --> 00:01:01.090 align:middle line:84% And I think it's extremely important 00:01:01.090 --> 00:01:03.460 align:middle line:84% to think about how we are leveraging 00:01:03.460 --> 00:01:05.780 align:middle line:90% that in our professional lives. 00:01:05.780 --> 00:01:08.170 align:middle line:90% So hey, let's dive right in. 00:01:08.170 --> 00:01:12.940 align:middle line:84% Joining me today are Andy Hurt from our Product Management 00:01:12.940 --> 00:01:17.260 align:middle line:84% Group here at U.S. Bank and Bea Saldivar from Kyriba. 00:01:17.260 --> 00:01:17.890 align:middle line:90% Hey, guys. 00:01:17.890 --> 00:01:19.600 align:middle line:90% Thanks for joining me today. 00:01:19.600 --> 00:01:22.630 align:middle line:84% As we begin to talk about digital connectivity, 00:01:22.630 --> 00:01:27.490 align:middle line:84% it really spans the spectrum in terms of where we're going 00:01:27.490 --> 00:01:28.820 align:middle line:90% and how we get there. 00:01:28.820 --> 00:01:33.140 align:middle line:84% So before we get there, we need to understand what 00:01:33.140 --> 00:01:35.030 align:middle line:90% a digital bridge is, right? 00:01:35.030 --> 00:01:38.720 align:middle line:84% So as we begin to look at that, ladies first. 00:01:38.720 --> 00:01:43.290 align:middle line:84% Bea, when we say the term "digital bridge," 00:01:43.290 --> 00:01:45.430 align:middle line:90% what does that mean to you? 00:01:45.430 --> 00:01:48.220 align:middle line:84% BEA SALDIVAR: Oh god, there are so many examples 00:01:48.220 --> 00:01:49.420 align:middle line:90% of what it would mean to me. 00:01:49.420 --> 00:01:53.620 align:middle line:84% But just getting away from anything related 00:01:53.620 --> 00:02:01.570 align:middle line:84% to manual processes, to having to enter things 00:02:01.570 --> 00:02:04.510 align:middle line:84% that you don't have to, having to get away 00:02:04.510 --> 00:02:09.740 align:middle line:84% from wasting time, inefficiencies, 00:02:09.740 --> 00:02:15.290 align:middle line:84% and evolving and making that transformation more automatic, 00:02:15.290 --> 00:02:19.850 align:middle line:84% being able to save time, being able to take away those pain 00:02:19.850 --> 00:02:25.490 align:middle line:84% points that a lot of the manual processes take. 00:02:25.490 --> 00:02:30.260 align:middle line:84% It means being able to look within the organization, how 00:02:30.260 --> 00:02:36.890 align:middle line:84% we're able to actually itemize, how we're able to transform, 00:02:36.890 --> 00:02:39.650 align:middle line:84% and how we're able to create the value 00:02:39.650 --> 00:02:45.330 align:middle line:84% and be able to actually see the things now in real time. 00:02:45.330 --> 00:02:49.010 align:middle line:84% And what it means is making it better, making it better. 00:02:49.010 --> 00:02:53.690 align:middle line:84% And I guess, Andy and John, I don't know if you guys recall, 00:02:53.690 --> 00:02:58.340 align:middle line:84% but back in the '90s, there was no internet. 00:02:58.340 --> 00:02:59.930 align:middle line:90% And look at it now. 00:02:59.930 --> 00:03:05.300 align:middle line:84% Back in the '90s, until mid-'90s, the phones started 00:03:05.300 --> 00:03:06.950 align:middle line:90% really coming out. 00:03:06.950 --> 00:03:10.040 align:middle line:84% And that digital transformation, a simple example 00:03:10.040 --> 00:03:15.890 align:middle line:84% could be the old version of a phone, a cell phone 00:03:15.890 --> 00:03:18.005 align:middle line:84% that it was very manual still, even 00:03:18.005 --> 00:03:19.130 align:middle line:90% though it was a cell phone. 00:03:19.130 --> 00:03:22.460 align:middle line:84% Now all of us, we have at our fingertips 00:03:22.460 --> 00:03:25.760 align:middle line:84% our phones that have the technologies, like a computer. 00:03:25.760 --> 00:03:27.290 align:middle line:90% We cannot live without that. 00:03:27.290 --> 00:03:30.290 align:middle line:84% This is an example of a digital transformation 00:03:30.290 --> 00:03:32.330 align:middle line:90% bridge of what it can create. 00:03:32.330 --> 00:03:37.050 align:middle line:84% But I don't know, Andy, what do you think? 00:03:37.050 --> 00:03:40.830 align:middle line:84% ANDY HURT: Yeah, I mean, I think all of those things. 00:03:40.830 --> 00:03:45.420 align:middle line:84% And I guess I don't want to take it too technical, 00:03:45.420 --> 00:03:47.340 align:middle line:84% but I'm looking at the slide here. 00:03:47.340 --> 00:03:50.430 align:middle line:84% And I'm thinking on, John, the way 00:03:50.430 --> 00:03:53.190 align:middle line:84% you cued us up, when you said that it spans the spectrum. 00:03:53.190 --> 00:03:55.740 align:middle line:84% Right, digital connectivity spans the spectrum. 00:03:55.740 --> 00:03:58.650 align:middle line:84% And on this slide, we've got these spaces 00:03:58.650 --> 00:04:01.230 align:middle line:84% or these spans between different places 00:04:01.230 --> 00:04:03.040 align:middle line:90% in a transformative journey. 00:04:03.040 --> 00:04:06.480 align:middle line:84% And so the digital bridge is, in fact, 00:04:06.480 --> 00:04:09.600 align:middle line:84% this span both between these two places 00:04:09.600 --> 00:04:11.820 align:middle line:84% or these disparate places, but also 00:04:11.820 --> 00:04:15.780 align:middle line:84% across this entire spectrum of transformation. 00:04:15.780 --> 00:04:19.829 align:middle line:84% And between these points in the journey, 00:04:19.829 --> 00:04:24.120 align:middle line:84% there could be various options or channels for connectivity. 00:04:24.120 --> 00:04:27.810 align:middle line:84% From cost to contribution, you could have API connectivity. 00:04:27.810 --> 00:04:29.670 align:middle line:84% From progress to optimization, you 00:04:29.670 --> 00:04:33.000 align:middle line:84% could have an ERP integration, whether that be point to point 00:04:33.000 --> 00:04:34.590 align:middle line:90% or parts and pieces. 00:04:34.590 --> 00:04:37.800 align:middle line:84% We could have file transmission that wraps it all up 00:04:37.800 --> 00:04:38.920 align:middle line:90% or brings it all together. 00:04:38.920 --> 00:04:43.230 align:middle line:84% And so the digital bridge is this way 00:04:43.230 --> 00:04:46.920 align:middle line:84% to span the journey of transformation. 00:04:46.920 --> 00:04:50.980 align:middle line:84% And it's enabled by various connectivity channels. 00:04:50.980 --> 00:04:52.980 align:middle line:84% JOHN MELVIN: You bring up a great point in terms 00:04:52.980 --> 00:04:54.300 align:middle line:90% of the connectivity channels. 00:04:54.300 --> 00:04:56.790 align:middle line:84% And, obviously, there's a number of different ways 00:04:56.790 --> 00:04:58.350 align:middle line:90% to get onto the digital bridge. 00:04:58.350 --> 00:05:05.750 align:middle line:84% But how do our audience and our customers and prospects 00:05:05.750 --> 00:05:09.260 align:middle line:84% get on the digital bridge and really truly utilize 00:05:09.260 --> 00:05:10.470 align:middle line:90% the digital bridge? 00:05:10.470 --> 00:05:13.190 align:middle line:84% I mean, ultimately, they're making a pretty big paradigm 00:05:13.190 --> 00:05:13.955 align:middle line:90% shift here, right? 00:05:13.955 --> 00:05:16.770 align:middle line:90% 00:05:16.770 --> 00:05:19.110 align:middle line:84% ANDY HURT: I mean, it could be a big paradigm shift 00:05:19.110 --> 00:05:21.690 align:middle line:84% or it could be a very small step. 00:05:21.690 --> 00:05:26.410 align:middle line:84% I mean, like Bea said, we're on the internet. 00:05:26.410 --> 00:05:30.920 align:middle line:84% And I'll say that every company is unique. 00:05:30.920 --> 00:05:33.520 align:middle line:84% And there are industries that maybe there 00:05:33.520 --> 00:05:37.060 align:middle line:84% is not as much internet connectivity 00:05:37.060 --> 00:05:40.060 align:middle line:84% in payments processes or treasury operations 00:05:40.060 --> 00:05:41.890 align:middle line:90% as there are in others. 00:05:41.890 --> 00:05:46.060 align:middle line:84% But it's really a matter of where that company or where 00:05:46.060 --> 00:05:52.900 align:middle line:84% that industry is at and choosing the right partner to really 00:05:52.900 --> 00:05:58.990 align:middle line:84% design and build the framework for whatever it is that enables 00:05:58.990 --> 00:06:02.030 align:middle line:84% that company to take the next step in their journey, 00:06:02.030 --> 00:06:04.780 align:middle line:84% whether it be a massive paradigm shift, 00:06:04.780 --> 00:06:08.230 align:middle line:84% and we see that with clients who are very aggressively 00:06:08.230 --> 00:06:11.170 align:middle line:84% leveraging digital channels for connectivity, 00:06:11.170 --> 00:06:15.040 align:middle line:84% or some small pieces that are really simple 00:06:15.040 --> 00:06:21.631 align:middle line:84% process optimizations enabled by contemporary digital platforms. 00:06:21.631 --> 00:06:24.550 align:middle line:84% BEA SALDIVAR: You brought up a good point, Andy and John. 00:06:24.550 --> 00:06:26.290 align:middle line:90% I wanted to share something. 00:06:26.290 --> 00:06:28.300 align:middle line:84% One of the things we saw in the previous slide 00:06:28.300 --> 00:06:30.820 align:middle line:90% was reactive and proactive. 00:06:30.820 --> 00:06:34.090 align:middle line:84% And if we can look at here, what has happened? 00:06:34.090 --> 00:06:36.790 align:middle line:84% What did the COVID pandemic, what 00:06:36.790 --> 00:06:39.610 align:middle line:84% did it teach us, whether you're in banking you're 00:06:39.610 --> 00:06:41.200 align:middle line:90% in organizational corporate? 00:06:41.200 --> 00:06:44.140 align:middle line:84% One of the things is we want to be 00:06:44.140 --> 00:06:48.520 align:middle line:84% in a proactive role, futuristic, or reactive 00:06:48.520 --> 00:06:50.230 align:middle line:90% and let's see what happens. 00:06:50.230 --> 00:06:52.180 align:middle line:84% And one of the things that we discovered 00:06:52.180 --> 00:06:54.670 align:middle line:84% was that if you were really ready, 00:06:54.670 --> 00:06:58.030 align:middle line:84% you were ready to take on the pandemic and anything else. 00:06:58.030 --> 00:07:01.390 align:middle line:84% And you were able to have that speed, that visibility, that 00:07:01.390 --> 00:07:04.300 align:middle line:84% control that we're talking about here, those efficiencies. 00:07:04.300 --> 00:07:07.060 align:middle line:84% And more than anything, one of the things 00:07:07.060 --> 00:07:10.190 align:middle line:84% that we learn is by being proactive, 00:07:10.190 --> 00:07:12.490 align:middle line:84% they're able not only to have the visibility 00:07:12.490 --> 00:07:19.330 align:middle line:84% and adapt in another hybrid role or working remote, 00:07:19.330 --> 00:07:24.700 align:middle line:84% but the security aspect of it that was really important. 00:07:24.700 --> 00:07:27.910 align:middle line:84% So if you had an organization that 00:07:27.910 --> 00:07:31.607 align:middle line:84% were conducting their day-to-day treasury operations, 00:07:31.607 --> 00:07:33.190 align:middle line:84% they were doing many things manually-- 00:07:33.190 --> 00:07:34.690 align:middle line:84% and there's a lot of organizations 00:07:34.690 --> 00:07:37.450 align:middle line:84% that do many still print checks, which 00:07:37.450 --> 00:07:40.570 align:middle line:84% there's nothing wrong with it if there is their business model. 00:07:40.570 --> 00:07:43.090 align:middle line:84% But do you imagine that organization, 00:07:43.090 --> 00:07:44.470 align:middle line:90% they had to rethink. 00:07:44.470 --> 00:07:48.280 align:middle line:84% They had to think, how do we build this now digital bridge? 00:07:48.280 --> 00:07:50.570 align:middle line:84% And we take it out to the next level. 00:07:50.570 --> 00:07:54.700 align:middle line:84% And we look for contingencies, plan B, in case anything 00:07:54.700 --> 00:07:55.390 align:middle line:90% was to happen. 00:07:55.390 --> 00:07:59.320 align:middle line:84% So they became from a reactive mode to a proactive. 00:07:59.320 --> 00:08:02.930 align:middle line:84% And this is the way that I have seen a lot of organizations, 00:08:02.930 --> 00:08:06.460 align:middle line:84% because of the pandemic, revamp their business model 00:08:06.460 --> 00:08:09.430 align:middle line:84% and create the digital bridge that was definitely 00:08:09.430 --> 00:08:12.447 align:middle line:84% much needed that created this efficiencies for them. 00:08:12.447 --> 00:08:14.530 align:middle line:84% JOHN MELVIN: Yeah, Bea, you bring up a great point 00:08:14.530 --> 00:08:17.200 align:middle line:84% in terms of that not only just the security and the control 00:08:17.200 --> 00:08:18.700 align:middle line:84% and the visibility that it creates-- 00:08:18.700 --> 00:08:23.230 align:middle line:84% I mean, you think about just the normal processes 00:08:23.230 --> 00:08:25.990 align:middle line:84% of gathering a paper-based invoice 00:08:25.990 --> 00:08:28.215 align:middle line:84% and trying to drive it through an AP process. 00:08:28.215 --> 00:08:30.340 align:middle line:84% It's not a whole lot of visibility there and, quite 00:08:30.340 --> 00:08:33.010 align:middle line:84% frankly, very limited control as well. 00:08:33.010 --> 00:08:38.169 align:middle line:84% But as we talk about that, you hit on the idea of COVID 00:08:38.169 --> 00:08:40.059 align:middle line:84% and how we've made that digital shift. 00:08:40.059 --> 00:08:43.720 align:middle line:84% Clearly we've made a huge leap here 00:08:43.720 --> 00:08:47.170 align:middle line:84% in the last couple of years to truly drive digital. 00:08:47.170 --> 00:08:49.270 align:middle line:84% And I think, Andy, you were talking 00:08:49.270 --> 00:08:50.950 align:middle line:84% about this the other day in terms 00:08:50.950 --> 00:08:53.860 align:middle line:84% of just the importance of digital 00:08:53.860 --> 00:08:57.825 align:middle line:84% and where we're going associated with just all the ideas 00:08:57.825 --> 00:08:59.200 align:middle line:84% that digital brings to the table. 00:08:59.200 --> 00:09:01.775 align:middle line:90% 00:09:01.775 --> 00:09:06.540 align:middle line:84% ANDY HURT: Yeah, I mean, it's these channels of connectivity, 00:09:06.540 --> 00:09:11.190 align:middle line:84% like APIs or ERP integration, file transmission, 00:09:11.190 --> 00:09:15.120 align:middle line:84% they are the substance of transformation. 00:09:15.120 --> 00:09:19.170 align:middle line:84% And they are, in their essence, possibility. 00:09:19.170 --> 00:09:23.400 align:middle line:84% And I'm looking at the tiles here. 00:09:23.400 --> 00:09:26.520 align:middle line:84% I mean, between these lines and between these squares, 00:09:26.520 --> 00:09:29.730 align:middle line:84% there are so many options for optimization 00:09:29.730 --> 00:09:38.160 align:middle line:84% and enhancing these tenets of business that it's really-- 00:09:38.160 --> 00:09:42.450 align:middle line:90% it's on the client. 00:09:42.450 --> 00:09:45.600 align:middle line:84% It's really a matter of imagination 00:09:45.600 --> 00:09:49.030 align:middle line:84% to take all this to the next level. 00:09:49.030 --> 00:09:52.950 align:middle line:84% And so when we work with clients, 00:09:52.950 --> 00:09:59.130 align:middle line:84% it's not a matter of we have this. 00:09:59.130 --> 00:09:59.910 align:middle line:90% You might need it. 00:09:59.910 --> 00:10:01.380 align:middle line:90% It's more, what do you need? 00:10:01.380 --> 00:10:04.980 align:middle line:90% And let's create that together. 00:10:04.980 --> 00:10:09.450 align:middle line:84% So the partnership between tech and Treasury 00:10:09.450 --> 00:10:13.050 align:middle line:84% is incredibly important to enable the possibility 00:10:13.050 --> 00:10:15.788 align:middle line:90% and transformation. 00:10:15.788 --> 00:10:18.330 align:middle line:84% JOHN MELVIN: And I think, Bea, I think you and I were talking 00:10:18.330 --> 00:10:22.290 align:middle line:84% about this whole idea of clean data versus some 00:10:22.290 --> 00:10:26.590 align:middle line:84% of the other ways data comes into the organization. 00:10:26.590 --> 00:10:29.130 align:middle line:84% And I think that as we look at that next slide, 00:10:29.130 --> 00:10:31.320 align:middle line:84% we're really talking through some 00:10:31.320 --> 00:10:34.740 align:middle line:84% of those ideas around what that really looks like, right, 00:10:34.740 --> 00:10:36.390 align:middle line:90% in terms of the journey. 00:10:36.390 --> 00:10:37.470 align:middle line:90% BEA SALDIVAR: Of course. 00:10:37.470 --> 00:10:41.160 align:middle line:84% So one of the journeys that a lot of the treasurers that I 00:10:41.160 --> 00:10:45.000 align:middle line:84% talk to on a day-to-day basis look at is where is my data? 00:10:45.000 --> 00:10:48.450 align:middle line:84% Because data is not meaningful if it cannot be interpreted, 00:10:48.450 --> 00:10:51.300 align:middle line:84% if it cannot be readily available, 00:10:51.300 --> 00:10:54.150 align:middle line:84% if we cannot be accessed even in real time. 00:10:54.150 --> 00:10:58.110 align:middle line:84% And more than anything, being able to have that single point, 00:10:58.110 --> 00:11:00.600 align:middle line:84% being able to connect with your banks, 00:11:00.600 --> 00:11:05.280 align:middle line:84% with the technology providers with evolving great APIs 00:11:05.280 --> 00:11:05.820 align:middle line:90% is so great. 00:11:05.820 --> 00:11:07.980 align:middle line:84% But more than that, the transformation 00:11:07.980 --> 00:11:10.140 align:middle line:84% point that the digital bridge can bring, 00:11:10.140 --> 00:11:12.220 align:middle line:84% if you look at the previous slide, 00:11:12.220 --> 00:11:15.210 align:middle line:84% we talked about those titles, the inner points 00:11:15.210 --> 00:11:16.330 align:middle line:90% that Andy mentioned. 00:11:16.330 --> 00:11:20.170 align:middle line:84% But one of the key things that was so important is the cost. 00:11:20.170 --> 00:11:20.730 align:middle line:90% Why? 00:11:20.730 --> 00:11:23.610 align:middle line:84% Because all the organizations are driven by costs. 00:11:23.610 --> 00:11:26.430 align:middle line:84% So what if I was to tell you as an organization 00:11:26.430 --> 00:11:30.360 align:middle line:84% by bringing your data information, the integration 00:11:30.360 --> 00:11:32.370 align:middle line:84% to a single point, the APIs, data 00:11:32.370 --> 00:11:35.670 align:middle line:84% transmission, your business model can revamp, 00:11:35.670 --> 00:11:36.510 align:middle line:90% can add value? 00:11:36.510 --> 00:11:37.620 align:middle line:90% You can lower your cost. 00:11:37.620 --> 00:11:39.090 align:middle line:84% You can increase your net income. 00:11:39.090 --> 00:11:40.950 align:middle line:84% Would that be a game changer for all of us? 00:11:40.950 --> 00:11:42.450 align:middle line:90% I think so. 00:11:42.450 --> 00:11:44.520 align:middle line:84% I don't want to live in the world 00:11:44.520 --> 00:11:47.940 align:middle line:84% that everybody is doing everything manual. 00:11:47.940 --> 00:11:49.710 align:middle line:90% I don't know where my data is. 00:11:49.710 --> 00:11:50.970 align:middle line:90% I cannot do forecasts. 00:11:50.970 --> 00:11:54.990 align:middle line:84% I cannot do cash even positioning. 00:11:54.990 --> 00:11:59.970 align:middle line:84% If I want to strategically grow my global footprint or even 00:11:59.970 --> 00:12:02.580 align:middle line:84% just grow domestically, that I'm not 00:12:02.580 --> 00:12:05.310 align:middle line:84% able to do it because I don't even know where my money is. 00:12:05.310 --> 00:12:07.740 align:middle line:84% So definitely the paradigm, if that 00:12:07.740 --> 00:12:09.960 align:middle line:84% can happen to a lot of companies that 00:12:09.960 --> 00:12:13.540 align:middle line:84% do not look futuristically, how do I progress? 00:12:13.540 --> 00:12:14.460 align:middle line:90% And how do I build? 00:12:14.460 --> 00:12:17.640 align:middle line:84% And how do I leverage those great tools there are? 00:12:17.640 --> 00:12:21.240 align:middle line:84% The APIs of the world, the single point, the dashboards-- 00:12:21.240 --> 00:12:25.710 align:middle line:84% and how do I leverage this connectivity 00:12:25.710 --> 00:12:30.090 align:middle line:84% that my bankers are able to provide, like U.S. Bank 00:12:30.090 --> 00:12:31.960 align:middle line:90% in this case? 00:12:31.960 --> 00:12:33.960 align:middle line:84% JOHN MELVIN: Bea, you bring up some great points 00:12:33.960 --> 00:12:35.280 align:middle line:90% in terms of that connectivity. 00:12:35.280 --> 00:12:38.070 align:middle line:84% I know, Andy, you and I have been talking about just not 00:12:38.070 --> 00:12:39.060 align:middle line:90% only-- 00:12:39.060 --> 00:12:42.090 align:middle line:84% regardless of where the customer is on the journey, right, 00:12:42.090 --> 00:12:43.710 align:middle line:84% in terms of whether they're connecting 00:12:43.710 --> 00:12:46.020 align:middle line:84% through an online portal, through a data transmission 00:12:46.020 --> 00:12:48.990 align:middle line:84% file, a file exchange, or even through an API, 00:12:48.990 --> 00:12:52.920 align:middle line:84% there's always an option for customers to truly connect 00:12:52.920 --> 00:12:57.300 align:middle line:84% in ways they haven't before in the past, even something 00:12:57.300 --> 00:12:59.010 align:middle line:84% as simple as exchanging data files 00:12:59.010 --> 00:13:00.660 align:middle line:84% through an online channel, right? 00:13:00.660 --> 00:13:03.770 align:middle line:90% 00:13:03.770 --> 00:13:05.070 align:middle line:90% Please, expand. 00:13:05.070 --> 00:13:08.580 align:middle line:84% ANDY HURT: Yeah, I mean, what's really cool 00:13:08.580 --> 00:13:10.290 align:middle line:90% is there are the options. 00:13:10.290 --> 00:13:14.520 align:middle line:84% And so you could say that connectivity is truly 00:13:14.520 --> 00:13:16.300 align:middle line:90% a matter of choice. 00:13:16.300 --> 00:13:20.100 align:middle line:84% And when it gets, in my opinion, when it gets really cool 00:13:20.100 --> 00:13:24.900 align:middle line:84% is when those connectivity channels start to work together 00:13:24.900 --> 00:13:28.560 align:middle line:84% within enterprise systems and they 00:13:28.560 --> 00:13:31.680 align:middle line:84% produce what we like a composite product 00:13:31.680 --> 00:13:37.650 align:middle line:84% or composite information, where maybe your API connections are 00:13:37.650 --> 00:13:41.250 align:middle line:84% starting to speak with your data transmission channels 00:13:41.250 --> 00:13:45.540 align:middle line:84% or learn from your transaction or balance 00:13:45.540 --> 00:13:50.010 align:middle line:84% information within your Treasury workstation or online platform, 00:13:50.010 --> 00:13:53.220 align:middle line:90% like SinglePoint. 00:13:53.220 --> 00:13:56.670 align:middle line:84% We see it with Microsoft, where they can analyze our emails. 00:13:56.670 --> 00:13:59.550 align:middle line:84% And on our iPhones they'll tell you how much time 00:13:59.550 --> 00:14:00.900 align:middle line:90% you were spent texting. 00:14:00.900 --> 00:14:04.268 align:middle line:84% That's really useful information. 00:14:04.268 --> 00:14:06.060 align:middle line:84% For me it can be embarrassing how much time 00:14:06.060 --> 00:14:08.340 align:middle line:90% I spend on the phone every day. 00:14:08.340 --> 00:14:12.740 align:middle line:84% But for a business, imagine if a business 00:14:12.740 --> 00:14:15.140 align:middle line:84% could know what the business already 00:14:15.140 --> 00:14:19.220 align:middle line:84% knew, access to those deep lakes of data 00:14:19.220 --> 00:14:23.000 align:middle line:84% using machine learning algorithms in conjunction 00:14:23.000 --> 00:14:25.250 align:middle line:84% with API calls and in conjunction 00:14:25.250 --> 00:14:27.845 align:middle line:84% with everything that enterprise system is bringing together. 00:14:27.845 --> 00:14:30.440 align:middle line:90% 00:14:30.440 --> 00:14:35.360 align:middle line:84% The possibility is there to turn treasury into a product itself, 00:14:35.360 --> 00:14:39.230 align:middle line:84% where when we think about from cost to contribution, 00:14:39.230 --> 00:14:45.740 align:middle line:84% like Bea was saying, you could potentially take a function, 00:14:45.740 --> 00:14:49.670 align:middle line:84% a treasury function, and where it's traditionally 00:14:49.670 --> 00:14:54.020 align:middle line:84% an operational debit, potentially look at that 00:14:54.020 --> 00:14:57.320 align:middle line:84% as a bottom-line credit that really contributes 00:14:57.320 --> 00:15:01.670 align:middle line:90% to the business's success. 00:15:01.670 --> 00:15:05.630 align:middle line:84% So yeah, I get hung up on the composite stuff 00:15:05.630 --> 00:15:07.310 align:middle line:90% because it's, I mean, it's here. 00:15:07.310 --> 00:15:09.230 align:middle line:90% And we're able to deliver. 00:15:09.230 --> 00:15:11.810 align:middle line:84% But it's a matter of where clients are at. 00:15:11.810 --> 00:15:16.017 align:middle line:84% And some of the results we're seeing are just incredible. 00:15:16.017 --> 00:15:17.600 align:middle line:84% JOHN MELVIN: Yeah, you're right, Andy. 00:15:17.600 --> 00:15:19.340 align:middle line:90% It is truly an exciting time. 00:15:19.340 --> 00:15:22.220 align:middle line:84% I know, Bea, you really focus a lot 00:15:22.220 --> 00:15:24.530 align:middle line:84% on data integration in terms of being 00:15:24.530 --> 00:15:29.180 align:middle line:84% able to use that data in ways we haven't in the past. 00:15:29.180 --> 00:15:32.120 align:middle line:84% Can you share with our audience how 00:15:32.120 --> 00:15:36.565 align:middle line:84% you're seeing data integration transform organizations? 00:15:36.565 --> 00:15:37.940 align:middle line:84% BEA SALDIVAR: Oh yes, definitely. 00:15:37.940 --> 00:15:40.280 align:middle line:84% So one of the great tools that can be 00:15:40.280 --> 00:15:42.830 align:middle line:84% is right here we see the collaborative tools 00:15:42.830 --> 00:15:44.340 align:middle line:90% on this previous slide. 00:15:44.340 --> 00:15:46.750 align:middle line:84% One of the ways that we can take those tools, 00:15:46.750 --> 00:15:50.310 align:middle line:84% we can take actually and make an impact. 00:15:50.310 --> 00:15:52.520 align:middle line:84% One of the ways that treasurers are doing it 00:15:52.520 --> 00:15:55.970 align:middle line:84% is they're taking the interconnectivity integration 00:15:55.970 --> 00:15:59.660 align:middle line:84% of their data between the ERP, whether they have a treasury 00:15:59.660 --> 00:16:03.140 align:middle line:84% management system, the connectivity with their banks, 00:16:03.140 --> 00:16:07.130 align:middle line:84% and they're trying to see, what other enabler out there? 00:16:07.130 --> 00:16:08.690 align:middle line:90% Is my bank ready? 00:16:08.690 --> 00:16:10.730 align:middle line:84% Is the technology provider ready? 00:16:10.730 --> 00:16:15.260 align:middle line:84% For example, the ISO 20022, which is data rich, 00:16:15.260 --> 00:16:19.670 align:middle line:84% that can bring in and transform a lot of the data. 00:16:19.670 --> 00:16:22.910 align:middle line:84% And more than anything, the decision 00:16:22.910 --> 00:16:25.010 align:middle line:84% making that comes with it, the rich data that 00:16:25.010 --> 00:16:28.730 align:middle line:84% comes with the invoices, with those transformational changes, 00:16:28.730 --> 00:16:31.400 align:middle line:84% but being able to have everything integrated 00:16:31.400 --> 00:16:35.060 align:middle line:84% within the ERP, the bank connectivity, the bank, 00:16:35.060 --> 00:16:38.060 align:middle line:84% and the messaging with it, but being 00:16:38.060 --> 00:16:42.740 align:middle line:84% able to see the transactions in real time, your balances 00:16:42.740 --> 00:16:49.460 align:middle line:84% in real time, so the treasurer and the treasury center is able 00:16:49.460 --> 00:16:52.490 align:middle line:84% or care service center, they're able to make those decisions. 00:16:52.490 --> 00:16:55.490 align:middle line:84% But more than that, one of the things that we have seen 00:16:55.490 --> 00:16:58.430 align:middle line:84% is that a lot of the global companies, they 00:16:58.430 --> 00:17:00.170 align:middle line:90% operate everywhere globally. 00:17:00.170 --> 00:17:03.320 align:middle line:84% They might be trading in 30 or 40 currencies, 00:17:03.320 --> 00:17:05.690 align:middle line:84% same-day, two-day, next-day currencies. 00:17:05.690 --> 00:17:08.420 align:middle line:84% Would this be important for them to know their data? 00:17:08.420 --> 00:17:10.400 align:middle line:84% Would this be important for them to know 00:17:10.400 --> 00:17:12.079 align:middle line:90% what is my opening balance? 00:17:12.079 --> 00:17:13.700 align:middle line:90% What is my intraday? 00:17:13.700 --> 00:17:15.500 align:middle line:90% What if I wanted to trade? 00:17:15.500 --> 00:17:17.810 align:middle line:90% What would it do to my company? 00:17:17.810 --> 00:17:20.420 align:middle line:84% So being able to be within those countries that 00:17:20.420 --> 00:17:25.349 align:middle line:84% have restrictions, the trapped cash is really important. 00:17:25.349 --> 00:17:26.839 align:middle line:84% And then one of the things that we 00:17:26.839 --> 00:17:30.720 align:middle line:84% see very often, like you have here, is the reconciliation. 00:17:30.720 --> 00:17:33.500 align:middle line:84% Reconciliation is one of the biggest pain points 00:17:33.500 --> 00:17:35.900 align:middle line:84% that we see a lot of companies go through. 00:17:35.900 --> 00:17:38.480 align:middle line:84% But definitely with the digital bridge 00:17:38.480 --> 00:17:41.630 align:middle line:84% and being able to be integrated, the data 00:17:41.630 --> 00:17:44.930 align:middle line:84% within the core systems of the organization, 00:17:44.930 --> 00:17:47.450 align:middle line:84% internal or external, can definitely 00:17:47.450 --> 00:17:51.530 align:middle line:84% be a game changer that can add a lot of value, 00:17:51.530 --> 00:17:54.860 align:middle line:84% increase those valuable opportunities, 00:17:54.860 --> 00:17:55.880 align:middle line:90% and decrease cost. 00:17:55.880 --> 00:17:58.710 align:middle line:84% And more than anything, at the end of the day, 00:17:58.710 --> 00:18:01.250 align:middle line:84% we want to make their job better. 00:18:01.250 --> 00:18:02.960 align:middle line:84% And they want to make their job better. 00:18:02.960 --> 00:18:06.050 align:middle line:84% And me, relatable to when I used to be a corporate treasurer 00:18:06.050 --> 00:18:09.320 align:middle line:84% over 20 years, I can tell you, I don't like 00:18:09.320 --> 00:18:11.270 align:middle line:90% to enter those manual payments. 00:18:11.270 --> 00:18:14.240 align:middle line:84% I don't like to look for those reconciliations 00:18:14.240 --> 00:18:15.680 align:middle line:90% and do it manually. 00:18:15.680 --> 00:18:19.070 align:middle line:84% I don't want like to spend so many hours in the office. 00:18:19.070 --> 00:18:22.010 align:middle line:84% So anything for me back then and even now 00:18:22.010 --> 00:18:24.890 align:middle line:84% that is going to make my job better, 00:18:24.890 --> 00:18:27.440 align:middle line:84% this is what I mean about the big impact 00:18:27.440 --> 00:18:29.330 align:middle line:90% on the digital transformation. 00:18:29.330 --> 00:18:32.540 align:middle line:84% What it was then, writing a check by hand. 00:18:32.540 --> 00:18:35.040 align:middle line:84% What it is now, printing a check. 00:18:35.040 --> 00:18:37.850 align:middle line:84% But what it can be, that that check was also 00:18:37.850 --> 00:18:41.900 align:middle line:84% able to transform into the note deposit 00:18:41.900 --> 00:18:46.640 align:middle line:84% capture, which all those little steps in the journey, 00:18:46.640 --> 00:18:50.870 align:middle line:84% as an example, have transformed the treasury functions of what 00:18:50.870 --> 00:18:54.500 align:middle line:90% we get to see. 00:18:54.500 --> 00:18:58.220 align:middle line:84% And then recently, of course, real-time instant payments 00:18:58.220 --> 00:18:59.660 align:middle line:90% are taking place. 00:18:59.660 --> 00:19:03.620 align:middle line:84% That's becoming a game changer that many organizations are 00:19:03.620 --> 00:19:05.940 align:middle line:84% looking, how do we do things better? 00:19:05.940 --> 00:19:07.460 align:middle line:90% How do we enable this rail? 00:19:07.460 --> 00:19:10.620 align:middle line:84% And these are parts of the digital transformation 00:19:10.620 --> 00:19:13.170 align:middle line:84% that I have seen every single day in my conversations 00:19:13.170 --> 00:19:14.760 align:middle line:90% happening. 00:19:14.760 --> 00:19:17.460 align:middle line:84% JOHN MELVIN: Bea, you asked an absolutely incredible question. 00:19:17.460 --> 00:19:22.740 align:middle line:84% How do we take advantage of these faster payment rails? 00:19:22.740 --> 00:19:24.450 align:middle line:84% I know, Andy, you and I have talked a lot 00:19:24.450 --> 00:19:27.600 align:middle line:84% about just that real-time recognition of cash. 00:19:27.600 --> 00:19:30.600 align:middle line:84% And share with the audience a little bit more 00:19:30.600 --> 00:19:33.090 align:middle line:84% about your journey in the API world 00:19:33.090 --> 00:19:36.910 align:middle line:84% and how that is affecting this digital transformation. 00:19:36.910 --> 00:19:41.290 align:middle line:84% ANDY HURT: Yeah, well, in terms of faster payments, 00:19:41.290 --> 00:19:47.320 align:middle line:84% I'll say I was speaking with a friend the other day who she's 00:19:47.320 --> 00:19:52.840 align:middle line:84% in supply chain and was looking at some connectivity options 00:19:52.840 --> 00:19:54.790 align:middle line:84% and was about to get a pitch from U.S. Bank 00:19:54.790 --> 00:19:56.450 align:middle line:84% and said, what do I need to know? 00:19:56.450 --> 00:19:58.820 align:middle line:84% And I said, well, faster payments are really cool. 00:19:58.820 --> 00:20:00.910 align:middle line:84% And she said, well, I don't want to pay now. 00:20:00.910 --> 00:20:02.950 align:middle line:90% I want I want that float. 00:20:02.950 --> 00:20:05.425 align:middle line:84% And I said, that's a really great point, 00:20:05.425 --> 00:20:07.300 align:middle line:84% but faster payments doesn't mean you actually 00:20:07.300 --> 00:20:10.610 align:middle line:84% have to pay as soon as that money is ready to go. 00:20:10.610 --> 00:20:12.670 align:middle line:84% It means it opens up opportunities, 00:20:12.670 --> 00:20:14.920 align:middle line:90% like early-pay discounts. 00:20:14.920 --> 00:20:20.800 align:middle line:84% Sure, you might be fine with NET 5, but if NET 1 can capture 2%, 00:20:20.800 --> 00:20:25.150 align:middle line:84% that's a matter of faster payments, again, contributing 00:20:25.150 --> 00:20:26.230 align:middle line:90% to the bottom line. 00:20:26.230 --> 00:20:30.250 align:middle line:84% And those faster payments are enabled in many cases 00:20:30.250 --> 00:20:34.000 align:middle line:84% by API connectivity and API channels. 00:20:34.000 --> 00:20:37.480 align:middle line:84% And it's not just a matter of moving that money. 00:20:37.480 --> 00:20:40.150 align:middle line:84% And there are a lot of things that go into moving that money. 00:20:40.150 --> 00:20:42.040 align:middle line:84% And, frankly, it blows my mind how fast 00:20:42.040 --> 00:20:44.020 align:middle line:84% we can do it when we think of the tech that 00:20:44.020 --> 00:20:46.820 align:middle line:90% actually makes this happen. 00:20:46.820 --> 00:20:51.850 align:middle line:84% But when that money is being transacted 00:20:51.850 --> 00:20:55.210 align:middle line:84% through these digital channels, whether that be file or API 00:20:55.210 --> 00:20:58.150 align:middle line:84% or direct ERP connectivity, you now 00:20:58.150 --> 00:21:02.140 align:middle line:84% have these records, these incredible records 00:21:02.140 --> 00:21:06.370 align:middle line:84% that are, again, connected back to your processes. 00:21:06.370 --> 00:21:10.720 align:middle line:84% And so you're able to make gains on match rates 00:21:10.720 --> 00:21:13.120 align:middle line:84% and reduce exceptions, because exceptions 00:21:13.120 --> 00:21:14.440 align:middle line:90% are incredibly costly. 00:21:14.440 --> 00:21:17.830 align:middle line:84% In terms of a manual process, what 00:21:17.830 --> 00:21:22.798 align:middle line:84% does it take to visibly search through a file with 10,000 00:21:22.798 --> 00:21:25.090 align:middle line:84% payments on it from a single day and find that one that 00:21:25.090 --> 00:21:26.320 align:middle line:90% didn't go through? 00:21:26.320 --> 00:21:31.420 align:middle line:84% That's a pretty simple process for a computer 00:21:31.420 --> 00:21:36.550 align:middle line:84% to do that can add minutes or potentially hours to someone's 00:21:36.550 --> 00:21:43.360 align:middle line:84% week to look at, OK, let's accelerate our time, 00:21:43.360 --> 00:21:46.570 align:middle line:84% our refresh rate on the API and get a view into our balances 00:21:46.570 --> 00:21:51.220 align:middle line:84% so that when we do make that payment on NET 1, NET 1, 00:21:51.220 --> 00:21:56.260 align:middle line:84% 1.001 seconds later, we can see, and the receiving party 00:21:56.260 --> 00:21:59.590 align:middle line:84% can see, that that cash has moved and has 00:21:59.590 --> 00:22:01.840 align:middle line:84% been-- that transaction has been captured. 00:22:01.840 --> 00:22:06.220 align:middle line:84% So it's a matter of, again, small steps 00:22:06.220 --> 00:22:08.230 align:middle line:90% that make these big leaps. 00:22:08.230 --> 00:22:14.050 align:middle line:84% But all of these things work together. 00:22:14.050 --> 00:22:16.360 align:middle line:84% And at the end of the day, there's 00:22:16.360 --> 00:22:19.510 align:middle line:84% a treasurer or controller or a CFO or a CEO 00:22:19.510 --> 00:22:21.760 align:middle line:90% or a CTO who's looking at that. 00:22:21.760 --> 00:22:24.550 align:middle line:84% And they're able to make more informed decisions faster. 00:22:24.550 --> 00:22:27.460 align:middle line:84% And that accelerates a company's journey 00:22:27.460 --> 00:22:29.818 align:middle line:90% toward their strategic goals. 00:22:29.818 --> 00:22:32.110 align:middle line:84% JOHN MELVIN: Yeah, hey, before we move forward too much 00:22:32.110 --> 00:22:35.110 align:middle line:84% further, you brought up some great points, both of you, 00:22:35.110 --> 00:22:37.090 align:middle line:84% around just the visibility that's 00:22:37.090 --> 00:22:41.080 align:middle line:84% created as part of the digital bridge process flow 00:22:41.080 --> 00:22:43.210 align:middle line:84% and greater access to information, right? 00:22:43.210 --> 00:22:50.990 align:middle line:84% So does that allow clients or organizations, if you will, 00:22:50.990 --> 00:22:54.320 align:middle line:84% to have a greater opportunity to catch fraud and see 00:22:54.320 --> 00:22:57.980 align:middle line:84% those red flags before they actually experience 00:22:57.980 --> 00:23:00.350 align:middle line:84% the back-end fraud where, obviously, it 00:23:00.350 --> 00:23:01.835 align:middle line:90% becomes a nightmare at times? 00:23:01.835 --> 00:23:04.700 align:middle line:90% 00:23:04.700 --> 00:23:08.620 align:middle line:84% BEA SALDIVAR: Yes, I think from my day-to-day interactions, 00:23:08.620 --> 00:23:11.080 align:middle line:84% being able to have that real-time visibility, 00:23:11.080 --> 00:23:13.300 align:middle line:84% being able to have that digital breast 00:23:13.300 --> 00:23:18.070 align:middle line:84% transformation definitely becomes a game changer that 00:23:18.070 --> 00:23:22.192 align:middle line:84% lowers and stops the fraud-- prevents the fraud could be 00:23:22.192 --> 00:23:23.650 align:middle line:84% the right word-- before it happens, 00:23:23.650 --> 00:23:26.022 align:middle line:84% because now you're going to be automated. 00:23:26.022 --> 00:23:27.730 align:middle line:84% You're going to have the data integrated. 00:23:27.730 --> 00:23:30.520 align:middle line:84% You're going to have the systems talking to each other. 00:23:30.520 --> 00:23:32.770 align:middle line:84% And especially if you're able to get 00:23:32.770 --> 00:23:36.190 align:middle line:84% a lot of this data in real time, it becomes a real game changer 00:23:36.190 --> 00:23:38.800 align:middle line:84% because not only are you going to know what transactions are 00:23:38.800 --> 00:23:42.820 align:middle line:84% happening, but if there was any fraud going on, 00:23:42.820 --> 00:23:44.420 align:middle line:90% you're going to know right away. 00:23:44.420 --> 00:23:47.410 align:middle line:84% You don't have to have that lag time to know what happened 00:23:47.410 --> 00:23:53.200 align:middle line:84% or how did this transaction of $3 million, $20 million 00:23:53.200 --> 00:23:55.840 align:middle line:84% get out of our bank without us knowing, and then knowing 00:23:55.840 --> 00:23:59.350 align:middle line:84% that it's fraudulent and knowing that it would be very, very 00:23:59.350 --> 00:24:01.130 align:middle line:90% difficult to get it back? 00:24:01.130 --> 00:24:05.350 align:middle line:84% So this is the key point of why the digital transformation is 00:24:05.350 --> 00:24:08.740 align:middle line:84% so important, because it's going to give the visibility. 00:24:08.740 --> 00:24:11.680 align:middle line:84% It's going to create the controls around. 00:24:11.680 --> 00:24:13.690 align:middle line:84% It's going to create the efficiencies. 00:24:13.690 --> 00:24:15.640 align:middle line:84% And more than anything, it's going 00:24:15.640 --> 00:24:18.370 align:middle line:84% to become the number one transformational tools 00:24:18.370 --> 00:24:20.980 align:middle line:84% for the day-to-day treasurers, the CFOs 00:24:20.980 --> 00:24:25.330 align:middle line:84% to be able to make those important decisions that they 00:24:25.330 --> 00:24:28.540 align:middle line:84% need to make on a single day, but more than anything 00:24:28.540 --> 00:24:32.980 align:middle line:84% add value and be able to leverage the great tools 00:24:32.980 --> 00:24:38.033 align:middle line:84% that there are out there to make their life better. 00:24:38.033 --> 00:24:39.950 align:middle line:84% JOHN MELVIN: Andy, same part of that question. 00:24:39.950 --> 00:24:43.430 align:middle line:84% From a fraud perspective, how do you see that getting mitigated? 00:24:43.430 --> 00:24:50.990 align:middle line:84% ANDY HURT: Yeah, digital connectivity, I think, 00:24:50.990 --> 00:24:57.880 align:middle line:84% is the best way to expedite fraud mitigation 00:24:57.880 --> 00:24:59.710 align:middle line:90% and really elevate it. 00:24:59.710 --> 00:25:03.190 align:middle line:90% 00:25:03.190 --> 00:25:05.290 align:middle line:84% When I think about API connectivity 00:25:05.290 --> 00:25:07.360 align:middle line:84% and digital connectivity and these channels, 00:25:07.360 --> 00:25:10.060 align:middle line:84% they're really bringing systems together-- 00:25:10.060 --> 00:25:12.070 align:middle line:84% banking systems, business systems, 00:25:12.070 --> 00:25:14.840 align:middle line:84% and different components of those systems. 00:25:14.840 --> 00:25:17.770 align:middle line:84% So you may have your direct deposit accounts 00:25:17.770 --> 00:25:20.650 align:middle line:84% and you may have your lockbox operations. 00:25:20.650 --> 00:25:24.498 align:middle line:90% You may have incoming payments. 00:25:24.498 --> 00:25:25.540 align:middle line:90% You may have receivables. 00:25:25.540 --> 00:25:26.620 align:middle line:90% You may have outgoing. 00:25:26.620 --> 00:25:30.430 align:middle line:84% And these are all leveraging different subapplications 00:25:30.430 --> 00:25:32.110 align:middle line:90% within the enterprise. 00:25:32.110 --> 00:25:35.530 align:middle line:84% Well, it used to be, and it actually still 00:25:35.530 --> 00:25:39.040 align:middle line:84% is, that every bank had a vault. And within the vault 00:25:39.040 --> 00:25:42.520 align:middle line:84% there's components to this, but essentially there's 00:25:42.520 --> 00:25:46.090 align:middle line:84% a door, a huge door with a combination. 00:25:46.090 --> 00:25:48.940 align:middle line:84% We know now that business can move a little bit faster 00:25:48.940 --> 00:25:50.380 align:middle line:90% if there are several vaults. 00:25:50.380 --> 00:25:54.340 align:middle line:84% And if we're leveraging digital, we're 00:25:54.340 --> 00:25:58.330 align:middle line:84% able to take that door of the safe. 00:25:58.330 --> 00:26:01.750 align:middle line:84% And instead of just one combination to open it, 00:26:01.750 --> 00:26:03.850 align:middle line:84% there are an infinite number of combinations. 00:26:03.850 --> 00:26:08.830 align:middle line:84% And the right combination at the right time changes every 00:26:08.830 --> 00:26:10.360 align:middle line:90% 10,000th of a second. 00:26:10.360 --> 00:26:14.740 align:middle line:84% And we can actually put extra vaults, 00:26:14.740 --> 00:26:17.740 align:middle line:84% so to speak, around these digital vaults. 00:26:17.740 --> 00:26:23.830 align:middle line:84% And banks have always been the bastion of security. 00:26:23.830 --> 00:26:28.780 align:middle line:84% But digital is making that more true than ever. 00:26:28.780 --> 00:26:30.370 align:middle line:84% So that's what I think about when 00:26:30.370 --> 00:26:34.438 align:middle line:84% I think about fraud mitigation, is just the [? matrix. ?] 00:26:34.438 --> 00:26:35.980 align:middle line:84% BEA SALDIVAR: Yeah, you make a good-- 00:26:35.980 --> 00:26:36.790 align:middle line:90% JOHN MELVIN: Yeah, I hear-- 00:26:36.790 --> 00:26:37.400 align:middle line:90% go ahead. 00:26:37.400 --> 00:26:37.870 align:middle line:90% Go ahead, Bea. 00:26:37.870 --> 00:26:38.110 align:middle line:90% BEA SALDIVAR: Sorry. 00:26:38.110 --> 00:26:38.230 align:middle line:90% Sorry. 00:26:38.230 --> 00:26:41.190 align:middle line:84% Yeah, if I could add something, Andy brought up a great point. 00:26:41.190 --> 00:26:44.680 align:middle line:90% One of them is control. 00:26:44.680 --> 00:26:47.320 align:middle line:84% If we look at it, digital transformation 00:26:47.320 --> 00:26:49.810 align:middle line:84% brings back the control that you need 00:26:49.810 --> 00:26:53.020 align:middle line:84% to be able to automate them, integrate them, put 00:26:53.020 --> 00:26:54.760 align:middle line:90% all the pieces together. 00:26:54.760 --> 00:26:58.180 align:middle line:84% Without that initial control that you need, 00:26:58.180 --> 00:27:00.070 align:middle line:84% it would be hard to prevent fraud. 00:27:00.070 --> 00:27:02.980 align:middle line:84% It would be hard to have that visibility. 00:27:02.980 --> 00:27:05.440 align:middle line:84% It would be hard to know where are your operations? 00:27:05.440 --> 00:27:06.430 align:middle line:90% Where are you today? 00:27:06.430 --> 00:27:07.420 align:middle line:90% What is your roadmap? 00:27:07.420 --> 00:27:09.040 align:middle line:84% Where are you going to be later in the day? 00:27:09.040 --> 00:27:10.498 align:middle line:84% Where are you going to be tomorrow? 00:27:10.498 --> 00:27:13.120 align:middle line:84% So I think more than anything, the digital transformation 00:27:13.120 --> 00:27:16.993 align:middle line:84% gives them the control that they need. 00:27:16.993 --> 00:27:18.410 align:middle line:84% JOHN MELVIN: Yeah, thank you both. 00:27:18.410 --> 00:27:21.410 align:middle line:84% You're both spot on because all I hear 00:27:21.410 --> 00:27:24.260 align:middle line:84% is, hey, let's eliminate manual processes. 00:27:24.260 --> 00:27:26.330 align:middle line:84% Let's eliminate paper friction that's 00:27:26.330 --> 00:27:27.920 align:middle line:90% part of that process flow. 00:27:27.920 --> 00:27:30.320 align:middle line:84% And let's create greater visibility. 00:27:30.320 --> 00:27:32.570 align:middle line:84% Hey, thanks, both of you, for joining today. 00:27:32.570 --> 00:27:33.620 align:middle line:90% Greatly appreciate that. 00:27:33.620 --> 00:27:36.890 align:middle line:84% And for our audience today, hey, let's think 00:27:36.890 --> 00:27:41.990 align:middle line:84% through how you want to attack your opportunities internally 00:27:41.990 --> 00:27:44.510 align:middle line:84% when you're managing your friction. 00:27:44.510 --> 00:27:46.910 align:middle line:84% Engage your internal stakeholders. 00:27:46.910 --> 00:27:49.310 align:middle line:84% Speak with your partners to really understand 00:27:49.310 --> 00:27:52.490 align:middle line:84% how you can drive the process flow associated 00:27:52.490 --> 00:27:54.350 align:middle line:90% with moving to digital. 00:27:54.350 --> 00:27:56.630 align:middle line:84% As we say, build, connect, innovate. 00:27:56.630 --> 00:28:00.800 align:middle line:84% Those are all key attributes of moving into the digital space. 00:28:00.800 --> 00:28:02.990 align:middle line:84% Whether you're connecting through SinglePoint, 00:28:02.990 --> 00:28:05.450 align:middle line:84% exchanging data, transmission files, 00:28:05.450 --> 00:28:07.580 align:middle line:84% or connecting through APIs, there's 00:28:07.580 --> 00:28:09.710 align:middle line:90% a channel built for you. 00:28:09.710 --> 00:28:14.030 align:middle line:84% And we certainly continue to innovate through our ERP 00:28:14.030 --> 00:28:16.940 align:middle line:84% connectors that we're working diligently on in terms 00:28:16.940 --> 00:28:22.233 align:middle line:84% of being able to connect directly to your ERP platforms. 00:28:22.233 --> 00:28:23.900 align:middle line:84% Once again, thanks for joining me today. 00:28:23.900 --> 00:28:25.430 align:middle line:90% Greatly appreciate your time. 00:28:25.430 --> 00:28:29.090 align:middle line:84% As we continue to look at all of these pieces, 00:28:29.090 --> 00:28:33.980 align:middle line:84% there is a survey in the Q&A section. 00:28:33.980 --> 00:28:35.840 align:middle line:84% Please take a moment and fill out 00:28:35.840 --> 00:28:40.460 align:middle line:84% as we continue to try to improve our sessions for you. 00:28:40.460 --> 00:28:42.110 align:middle line:90% Once again, thanks for joining. 00:28:42.110 --> 00:28:44.588 align:middle line:84% And oh, if you do have additional questions, 00:28:44.588 --> 00:28:46.130 align:middle line:84% please reach out to your relationship 00:28:46.130 --> 00:28:48.410 align:middle line:84% manager or your treasury management consultant. 00:28:48.410 --> 00:28:49.430 align:middle line:90% Hey, thanks for joining. 00:28:49.430 --> 00:28:51.420 align:middle line:90% Talk soon. 00:28:51.420 --> 00:28:52.490 align:middle line:90% ANDY HURT: Thanks, John. 00:28:52.490 --> 00:28:52.910 align:middle line:90% Thanks, Bea. 00:28:52.910 --> 00:28:53.360 align:middle line:90% BEA SALDIVAR: Thank you. 00:28:53.360 --> 00:28:54.020 align:middle line:90% Thanks, John. 00:28:54.020 --> 00:28:54.562 align:middle line:90% Thanks, Andy. 00:28:54.562 --> 00:28:55.770 align:middle line:90% ANDY HURT: Thanks, everybody. 00:28:55.770 --> 00:28:57.040 align:middle line:90% JOHN MELVIN: Thanks, all. 00:28:57.040 --> 00:29:02.000 align:middle line:90%