Release Date: February 10, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you discuss the near-term opportunities for MyTech and your confidence in returning to double-digit growth following recent transitions? A: Ed West, CEO: Yes, I am confident in our ability to return to double-digit growth. The actions we've taken and the progress we've made, particularly in fraud solutions and identity verification, are encouraging. Our focus is on enhancing our go-to-market strategy and leveraging our capabilities in financial services and identity solutions to address growing threats. We will provide more updates on our progress and outlook for fiscal '26 later this year.
Q: How is the partner channel for Check Fraud Defender (CFD) trending, and is there potential for larger mobile deposit partners to start selling this solution? A: Ed West, CEO: Our partnerships are growing, and the opportunity list is expanding as partners gain experience with the solution. Conversations with larger channel partners are progressing, and as financial institutions face increasing fraud, they are likely to push for solutions like CFD. The value of our solution is compelling, with a quick return on investment due to the level of fraud we can detect.
Q: Can you provide an update on the larger IDR&D deals and banking campaigns for ID verification that were previously delayed? A: David Lyle, CFO: These deals are expected to close eventually, with benefits anticipated in the second half of fiscal '25 and into fiscal '26. Our capabilities, particularly in passive liveness, are recognized as second to none, and we continue to evolve our products and solutions to meet market needs.
Q: Regarding the restructuring efforts, where does the company stand in terms of salesforce and engineering department changes? A: Ed West, CEO: We have completed the necessary restructuring and are now focused on execution. The changes were made to align our R&D resources closer to customers and integrate our platforms. We are at a stable level and are now focused on driving the business forward.
Q: How does the simplification of your product lineup affect the sales process, and is there potential for clients to pause implementations? A: Ed West, CEO: The focus and execution on our MyVIP platform and additional signals are positive for all involved. Our sales team is becoming more familiar with the solutions, and the dialogue with customers is strong, especially as they face increased threat factors. We do not anticipate significant pauses in implementations.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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