How Can I Sign Oklahoma Banking Presentation

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all right hello all and welcome again to another converge defect industry webinar thank you so much for joining us on this Wednesday this month we're focusing on the banking industry and an ecosystem of businesses around the banking industry and there is a lot to talk about here I'm really excited about we posted about a little bit on LinkedIn there's just a huge opportunity to drive win-win scenarios for you and your customer uncovering capex potential while helping them drive towards innovative new products and services tremendous amount of opportunity and we can't wait to dig in my name is Devin Williams and I'll be your host for today those of you that are new to CNS geez converge effect initiatives each month we focus on a particular industry driven by data which suggests what time of the year each industry is primed to make technology decisions think about where they're going what they need the gaps the business outcomes etc so the significant opportunity for us to deliver value to our customers as those agnostic technology consultants we've been talking so much about who deliver prescriptive solutions that are based on business outcomes if you want to discover more about that challenge your customers face with procuring technology today and better understand why is ACN SG agent you're in a unique position to deliver value to your customers I would encourage you to check out the calling our shot webinar from January where we as CNS she rolled out the converged effect initiative and talked about the why behind the converge effect that video and webinar recording can be found on YouTube our soon to go live partner portal or drop us an email any time at marketing at CNS chicom so as part of the converge effect initiative we deliver industry specific tools and resources designed to help you with each phase of the sales cycle such as new meeting generation email templates customer facing presentations supplier resources collateral interviews cheat sheets and so much more so beyond the look out for the follow-up email post webinar for those of you attending live and those links will go out to you with all that information and soon all this content will be found on our new partner portal so with the Converged effect initiative we begin our enablement at a business executives line-of-sight this type of knowledge is how you earn your seat at the table to discuss business outcomes not just specific technologies so first today we'll begin by identifying the larger macro trends at play that are affecting the banking industry we like to look at both immediate as well as initiatives slated for 3 to 5 years out so whether a bleeding edge or ultra-conservative you can always align with your customer regardless of where they are in that journey and not just now but you can also align yourself strategically into the future maybe you miss the boat on a current initiative but by having that business acumen discussion talking about strategies that are likely on the roadmap three plus years from now you can align yourself strategically and to future business so after that we'll start to examine from the technology standpoint how the industry is looking to take advantage of the current economic climate that we'll discuss and we'll explore the technical challenge the specific challenges that are preventing companies from really turning these economic and business level trends into opportunities and finally we'll discuss some specific solutions and strategies that you can use to monetize what we've covered here today before we wrap up with some Q&A with myself and Dave hopper our senior director of solutions engineer so what are the business owners and executives thinking about most in the banking industry today I think we've got some tremendous feedback on the converged effect initiative in the webinars and many of you absolutely love this particular part of the program and again this is where we focus on those high level business trends that are happening and then we work backwards into what are the technology trends and challenges that we as consultants should be looking to address to help our customers turn these things these trends into opportunities so what are those trends based on significant data and a lot of validated feedback from people in the industry our biggest threats and opportunities to executives right now are as follows branches are getting less and less traffic and they will continue to shrink in size and investment why because everything is going digital and the buyer today is different than it was 10 years ago buyers have different expectations tools at their disposal service options etc so if you've been tuning in over the past few months to the converge effect industry webinars some of these trends should be familiar this changing buyer and digitization dynamic is persistent in almost every industry that we've discussed but especially those which conduct transactional business like banking so what logically occurs when digital becomes your new face of the business versus brick-and-mortar resources that have been architected and dedicated to brick-and-mortar services now have to be shifted will altogether replace to support digital services customer experience is more important than ever today in banking you have fickle customers low brand loyalty across the industry which is relatively new for the industry plus fewer interactions with customers and more competition than ever thanks to fintechs again these different variables create a situation where customer experience is truly more important than ever to these institutions and companies the old way of doing things doesn't make as much sense anymore it's time to make updates and overhauls and last but definitely not least with everything going digital my focus as a bank shifts from physical security to cyber and customer data security so we'll talk a lot about cyber security today so on to the technology trends which have direct correlation to the business trends we just highlighted it should be no surprise based on the last slide that we start with the drive to digital specifically mobile the data is startling as it relates to mobile banking and what this shift is demanding of companies in the industry one such example of pressure the shift to mobile is putting on the industry is for banks to refresh and align their systems and processes to support the mobile and digital service demand as we alluded to in the last slide how do we as a business also begin to recruit and source talent specific to mobile and digital that you probably weren't thinking about that so not only do we need to take a fresh look at our processes in our technology so that we can go digital and focus on mobile but we also take need to take a fresh look at our people the future workforce in banking is expected to also be more diverse than ever in addition to permanent employees and contractors most analysts think that this workforce in banking will include freelancers who work with multiple banks FinTech hackathon errs to generate novel solutions and even robots eventually that will be working alongside these freelance and remote workers as part of this digital and customer centric transformation banks will likely need to reorient existing workforces to be collaborative and inclusive especially for the contract and remote workers we just talked about and again with fewer in-person interactions with customers customer service when problems do occur regardless of the channel where they're generated from in-store online mobile this experience becomes increasingly important as customers become less loyal competition increases and services do go digital so when something happens we need to make sure that our customer service is up to par if not better than the competition however with the drive to digital and mobile also comes newfound insight opportunity into our customers means and habits so this gives us as a banking institution an opportunity to look at the cloud during our refresh especially for initiatives around big data analytics and business intelligence and again cybersecurity is literally top of mind to be supervising authority for all US banks in 2018 the Department of Treasury so if they've blasted out publicly banks beware this is our number one focus in 2018 you can imagine that the banking institution CIOs CCO CEOs are going to follow suit so here's some interesting data from PwC I wanted to try something a little bit new in this in this conversion effect webinar I think you can use this information to help start a conversation with your customer that can lead a lot of different ways but just get the conversation started positioning yourself as an executive consultant business level consultant and especially with this will really resonate with the key influencer and economic buyer personas they're not familiar with that take a look at the blueprint methodology and support that we've got available the blueprint program where we talk about personas if you have any interest in that let me know as a tangent so I'm going to role play a few conversation starters based on the data that we've shown here so feel free to use this separately or as one complete conversation starting at the top left everyone in your industry says innovation is critical in 2018 mr. and mrs. banking customer especially with the move to digital but despite that PwC says that most banks don't feel prepared for innovation based on a recent survey where do you stand on this and what's keeping you from innovative a second conversation starter more than half of PwC respondents in a recent survey said a customer centric model is very important especially in today's climate but only 17% reporting we feel prepared to support such a customer centric model what's your definition of a customer centric model mr. customer and where does that fit in your stack of priorities for 2018 and finally I saved the best for last in my opinion mr. listeners customer I'd like to tell you about a cool medical phrase I heard recently it's cool because it actually doesn't apply to medical at all it applies to banking technology the quote goes fewer heart transplants and more bypasses what do I mean it means that a lot of banks are looking at their need to innovate to digitize and refresh as a daunting complete overhaul type project it's scary but it doesn't mean you have to go undergo a full transplant of your core instead many banks are having a lot of success moving certain aspects of their business and needs to the cloud such as solutions and technology focused on customer engagement or analytics they're one example of a bypass over a transplant does meeting the need to innovate and focus on the customer without the need to rip and replace everything overnight so I'd love to help you undercover where your bypass opportunities might be we then insert ourselves as consultants to act on behalf of the customer to go out and seek these bypass opportunities I e low-hanging fruit for refresh your innovation and then we bring back proactively and prescriptively solutions to these executives that we met with on the transplant versus bypass discussion stemming directly from that conversation so if any of you are interested in role play further please hit me up offline be more than happy to go through it but I think these are some great opportunities for discussion starters for you okay so now let's get into the challenges and we'll start by focusing on the trends that the majority of the industry are undertaking and prioritizing this year in 2018 security is numero uno hands-down across the board fourth in tax finance and banking in particular we're getting further and further over our proverbial technology skis quote-unquote across many industries as new technologies and customer demand surface daily that pain and uncertainty is felt more in heavily regulated industries than anywhere else especially banking so it makes sense the growth of mobile drive to digital blockchain IOT all of these trends grow the attack surface of these banks and make them easier targets to make matters worse workforce demand is and will continue to far outweigh supply in cybersecurity and information security it's a costly battle to fight keeping it in-house security team it's only going to get more challenging to find and retain this type of talent over the next five years just look at some of these stats from left to right on the bottom everyone is experiencing attacks and threats everyone is spending money on it and finance and banking industries are the most targeted you must get comfortable at a minimum proposing no-obligation enablement sessions for your customers around security even if you're not comfortable having this discussion we have a ton of fantastic resources that can do it on your back again you have many different types of solutions and resources at your disposal so don't think for a second that the ability to bring a no-obligation agnostic update on what's the latest and greatest in security and what solutions are available to your customers is not a value to them because it absolutely is and you have every right to propose that type of discussion and value add enablement get the discussion booked we've got a team of resources that can help you through discovery and align the right next steps and solutions for your customer we should not shy away here so what are some of the solutions specifically that we would likely propose based on the customers specific needs in their security journey where they're at CenturyLink in May Sergey at the top are two suppliers we have who excel in some of the attack areas we just discussed many times they're engaged post attack because we're not thinking proactively we're buying the insurance at a higher premium rate after we've already had the flood damage as opposed to getting the insurance ahead of time despite that they're very very talented at mitigating identifying DDoS attacks identifying root cause and excellent services and experience helping banks in particular protect themselves proactively and their customers especially again against DDoS web and branch attacks our friends at Expedia and Rackspace for good reason have a specific focus on banking retail in e-commerce a lot of overlap technologically speaking between those those three sectors due to this focus both companies can deliver compliant and secure environments for your banking customers so they don't have to worry about their compute services from a security or a compliance standpoint and finally we have excellent partnerships with true shield and cyber hat who can assess proactively monitor detect and remediate security and compliance issues I would encourage you to look at banking customers without a CSO chief information security officer or existing security organizations as top targets there's a real business justification for outsourcing what is a very expensive security resource is typically under staff to begin with especially when images everything like in banking and you're so highly regulated frankly to be honest I think stock as a service or so cash is a huge untapped opportunity for us in the indirect channel check out if you've got about 10 15 minutes check out the converged effect interview I did with Patrick from cyber hat their EVP of sales in North American operation on this topic in particular we did it last week should be up and available but especially in the mid enterprise and down market the need and justification for sokka's a service is absolutely undeniable it gets harder and harder to find and to keep information security talent as I mentioned meanwhile the need for those resources grows with each passing day so for a fraction of the cost of what it would take to build your own in-house security organization you can have true 24 by 7 365 Security Operations Center for your business duh it's a no-brainer let's get these conversations going and if we get to a point where we have a customer asking us about costs and business justification we know we've got a fantastic opportunity to win the business so next up immediate immediate focus besides security and compliance mobile multi-channel omni-channel mobile banking so the big push to mobile banking services i a rat race that every bank must compete in right now or get left behind I mean you have to be playing and spending here everyone is spending in mobile this year not mobile devices for their employees to be clear we're talking about mobile banking capabilities so this is delivered on a mobile platform that includes back-end technology which we'll discuss shortly but also visibility performance security and compliance of those applications and channels as well so here's some great data compiled compiled by our friends at Fleck Central from sources such as Forbes the financial brand ng data and others the data says everyone expects mobile account origination ie where accounts are created to surpass all traditional methods in the next few years online services are far more profitable the majority of the u.s. already uses digital banking and Millennials already do most of their financial planning online paving a way for the future but with this drive to mobile there's some key things to consider besides security which we just talked about one is am I set up to capture data and insight from my digital customers it's one thing to deploy a digital multi-channel on these strata excuse me omni-channel mobile strategy it's another thing to do so and not take the opportunity to gather data and insight on your customer while executing that strategy you're missing a huge opportunity secondly do I have a model set up to provide superb customer experience in the digital channel I've been investing in brick-and-mortar customer support and services for the entire existence of my company and now I'm pivoting on a dime to deliver digital services am I also transitioning my focus of customer support from brick and mortar through the digital channel fortunately again we have an abundance of solutions available that can help customers along this omni-channel digital mobile journey specifically eagle dream technologies for mobile application builds or integration between systems this is their bread and butter go to their website it's all they talk about it's what they do best they build mobile applications especially for financials and they've got lots of case studies to back it up so if a customer needs help with planning architecting developing or managing a mobile banking application look no further we should be getting eagle dream involved in a conversation next we move into the backend and some of the other areas besides the actual mobile application developed there's expedient glass extensive experience managing banking critical services such as mobile banking applications they create a secure and compliant environment as we discussed to give the client visibility into the environment and can deliver true dr as a service down to the network component now that's not just the compute differentiator to make sure the service never goes down and there's never a data loss due to disaster and data loss I might add is as big a concern as data theft to these companies so don't just go out and crush the security conversation is to crush the security cyber security threats that you have in your environment and then forget about protecting from data loss because you're only looking at one side of the coin we also have companies at the bottom like RingCentral and Nextiva who can deliver seamless experiences to your customers mobile banking text or chat support video banking delivering real-time communication and improved collaboration and remember that some of the data on customers in banking the lack of loyalty right leverage 5-9 to deliver the call center experience your customers demand when they do need to talk with someone at the bank but they're not engaged in brick-and-mortar services excuse me our next challenge is technology resources at most banks are becoming difficult to manage you've got a hodgepodge of systems platform software and tools much of them are legacy infrastructure and what's unfortunate about legacy infrastructure is it's incredibly expensive to maintain it demands significant resources and capital to ensure that that legacy infrastructure runs and operates smoothly so as such modernizing core operating infrastructure is an obvious priority and is our third immediate priority security mobile banking and modernization of back-end infrastructure this was modernization in particular was ranked as the most important information technology initiative trend for nearly a quarter of global banking respondents in a 20-17 enterprise insight survey this is top of mind it's immediate and we want to focus again not on the transplants but the opportunities for the bypasses so whether we like it or not as a banking institution we have to do something here with the push to mobile and the constant compliance and security pressure I can't continue to spend 80% of my IT dollars on legacy systems maintenance I have to find the low-hanging fruit the bypasses areas I can innovate and move the needle quickly within my existing budget constraints so to that end what are financial firms looking to get from the cloud an obvious choice when thinking about modernizing or refreshing back-end infrastructure there's some excellent data on what's happening in banking which was conscripted by and provided to us by wind stream Enterprise this data can be requested directly from your channel manager the wind stream team or soon this will be available on the partner resource center so for both infrastructure on the Left the data center upgrades infrastructure as well as cloud staff locations they have the same top five drivers a little bit change in percentage on each side but the same top five drivers security process cost customer experience and compliance let me use cloud to address immediate needs that are also bypass opportunities not requiring entire overhauls how can I make a change quickly within my existing cost restraints that helps me hit on multiple checks checkboxes refreshing infrastructure driving towards things like a customer centric model innovating driving towards mobile etc and guess what we have multitudes of world-class cloud solutions across all of the areas listed frankly out everything we've talked about and will talk about this is probably the area where we have the most the largest abundance of solutions and providers available to us so many options to choose from but the standouts based on experience in the industry are as follows green cloud 4d our VDI and infrastructure as a service in the banking industry fantastic Bar None Rackspace has great experience case studies like Metro Bank were they delivered on performance improvement security and cost reduction needs for a client they also have a lot of experience migrating banks to the cloud in different workloads engage Rackspace to help them help you find bypass opportunities within your customer and they have an entire practice focused on Big Data which back to the finding insight while driving to the omni-channel the digital the the mobile solution and service is incredibly important call tower has specific experience delivering business outcomes for the banking industry like secure and compliant credit card transactions evolve IP is another one which we're not doing them a service by just mentioning MDM and VDI that but they've got a lot of variant specifically with mobile and freelance workers which we talked about banks are starting to think more about how they support the next generation of workers which will be mobile and freelance the evolved ICP can do so much more as a lot of great experience again in the banking industry neo cloud has a banking specific core bundle which targets a lot of the typical low-hanging cloud we see with banks so bundle all this together support implementation training is all included for flat MRC and finally windstream who we talked about helped compile a lot of this great information that we're talking about in referencing today but they did a huge nineteen point four million dollars they'll say that again nineteen point four million dollar five-year tcv deal in q4 last year with one of our sub agents doing exactly what we're talking about in this presentation updating a bank who had lots of dispair technology due to mergers in their instance and updating it with customized and prescriptive solutions based on location and meet fantastic when caffeine can be more than happy to talk your ear off about it as they should so if you want to learn more and engage on some of that and see if you can replicate that type of wind in your business and in your base engage us we'd love to get the conversation started okay the last challenge will address today for banking is the challenge to keep up with all these needs to innovate while not losing sight of the customer who by the way has only become more demanding in today's always on instant gratification world it's a real challenge to balance customer centricity while also driving innovation without blowing out all of your expenses and eating away at margins and revenue etcetera so here's some data that's just really really telling customers are more willing to change banks than ever before there is less brand loyalty in the banking sector than ever before and technology is being put over personal relationships in banking arguably the first time ever in the industry banking was built on brick-and-mortar services reading customers with a smile and providing excellent customer service knowing their name when they walked in that time has been completely put on its head and now that loyalty is gone and the drive toward digital online services is what permeates the industry and some would say it's a sad thing that banking is becoming is just some quotes I saw a lot when doing research banking is becoming quote unquote less human I would argue that it's really just banking is really just adapting to digital consumption it's an inevitable evolution and shift so for these reasons that we discussed here big data analytics call center services chat box mobile applications integrated CRM branch services are all expected to see increased investments in 2018 from the banking industry so how can we help our customers meet the demand for continued if not improved customer centricity 5/9 we brought up previously specifically for customer experience inbound and outbound campaigns Nextiva with their next OS platform can tie all of your channels and customer interactions together into a single pane of glass to make sure you're never missing a piece of the discussion and things that are really important to today's customers when logging in or calling in to a customer support line I want to customer support reps to immediately have all my information my history etc next even the next OS platform can deliver that for your banking customers back space we alluded to around the big data piece they can help properly and cost-effectively leverage big data for your customers so they can get that insight into what their customers are doing and how their customers are interacting with their brand and then performance both at large and in the branch may sergey has multiple banking case studies were they engineered a network specifically to hang handle banking unique banking some of the bursting and some of the other seasonality challenges that were happening substantial is great they've done a lot of research in this space but what's really interesting they're forward-thinking approach with the edge data center concept that's really gaining steam as a centralized service delivery models are challenged by mobile and online services that we've talked about by putting a lot of pressure on the centralized data center the hub and spoke model what seneschal has excellent experience delivering performance and capex savings through edge computing and specifically in the banking industry just ask your customer if they've looked into edge data center concepts and get their feedback that's what we have that mr. customer we talked a lot about cloud we talked a lot about your data centers your compute all that fun stuff just question have you guys looked into the edge data center concept and just tell me about that if there's feedback based on their response offer to introduce them to a pioneer in the space fleck central who has a lot of banking deployments and can talk about how the edge computing concept can really help your banking customers all right and finally as a bonus from last month where we talked about reimagining the storefront in the retail space a lot of overlap a lot of synergies so we wanted to highlight some of the same suppliers in that space so the reimagine storefront play holds true for the branch banking play the branch isn't dead but growth and focus around the branch is shrinking as we saw on that very first slide from today so companies are looking at how to cost-effectively service customers who still search out brick-and-mortar experiences one example that we have here Cato can help you consolidate branch infrastructure into a single appliance while also delivering security and performance of those mission-critical edge services for cost savings and performance improvements we see NSG through our network of carrier services can also bring in lower quality and lower cost connectivity to help reduce the cost per Meg as the demands for data at the edge increase my crow's feet micro space is another great partner they're here in Raleigh they have several published case studies where they were able to stand up connectivity in new and hard-to-reach places and they were also able to create confidence in the customers critical edge services when they move their LTE service which was a band-aid solution initially through a backup or a failover solution when the time was right and calm core and anybody with a storefront with a branch with a brick and mortar should really be looking at and considering this provider they provide solutions purpose-built for the branch from telecom Wi-Fi music surveillance etc all of this in a managed MRC offering perfect for folks that are looking at customers banks that are looking at ways to continue to innovate in the branch but do so cost-effectively ok so now we're going to move on to QA because this is being recorded we want to keep the background noise to a minimum so what we'd ask is if you'd like to submit a question please do so through the chat window which is found at the very bottom left corner with the participant image there right next to that the chat window and at this time Dave or I will be happy to answer any of your questions okay well we don't have any questions submitted which is a first for us and we're seeing up there's one that popped in here course power banks handling merging networks when they grow through acquisitions how banks handling merging networks when they grow through acquisition Dave I know you saw you know we alluded a little bit to that windstream deal which talked a lot about the merger and acquisition play I know you were a big part of that deal you maybe talk a little bit about how we position how we win when we hear about that merger play that's a big thing happening in banking sure yeah I'm actually actively involved in a couple of those deals like that right now on a little bit smaller scale that one that we did with the wind stream but I mean at the end of the day and really with a lot of it same with many other networks we're looking at this you know a very good play in that scenarios and BST weigh-in especially if they have a forward-looking hey yes we just acquired one Bank today with four branches but over the next two years we plan to grow to 20 more branches via merger acquisition and then really a CSD weigh-in piece is how you know we positioned that because now you're not tied to specific carrier in that instance we're footprints may be different as you acquire they have you know different contracts in place but a good SD weighing strategy absolutely help solve that is forest started to bring in different networks they may have different contracts in place and things of that nature so to be able to build that out give them control so not only they're getting you know ability to merge in new networks new site but all the other benefits you get out of the SP way and for some of th analytics the control application performance reliability security and that's a big focus to to tie that in as you start looking at after you win and doing that is you got to tie it back into the cyber security policies you know where there's costs on gateways and things of that nature so you got to keep that's a really a dual conversation you start looking at that is not only the sd1 or wide area network piece but then also how that impacts our cyber security posture the great feedback great answer I mean the SD Wang component I think it really can be a connective tissue between a lot of different moves and plays and initiatives so I'm glad that you brought that up and that has a central piece so this one that we get a lot of times and I wanted to make sure that we brought it up is if a bank doesn't have a CE so or security team who should we speak to immediately about a security opportunity you go to the VP of IT go to the CIO I mean you really you want to have that very high level get buy-in that hey I'm a value-add have a ton of vetted proven solution providers in the security space I've delivered business justification for sock as a service to companies just like you I would love your buy-in mister economic buyer CIO VP of IT director of IT I would love your buy-in to go meet with your team's and have a no-obligation discussion on what's happening what's the latest and greatest in the security space and let's see where the conversation takes us go nail down that conversation immediately again that no-obligation enablement it's very unique versus what they're typically getting hit up with which are vendor specific enablement opportunities right they might get hit up by one two or all of our security vendors but those security vendors are not saying hey I can deliver an agnostic enablement instead it's I've got a very specific solution here's what it can do here's how we are better you've got a unique opportunity to be different out of all of that noise and deliver that agnostic enablement that's truly no obligation if you think one of these things makes a lot of sense lets you and I step away after the enablement session let's work collaboratively together on how we go attack this opportunity that's a conversation for you and your customer okay another question does anyone have any commentary around the risks banks have with more electronic payments and preventing fraud around those transactions um so Dave I can I can speak at a high level to that any particulars that you want to dig in on on how we can actually protect secure as more and more electronic payments are being processed things like that so some of that and I don't have a real in-depth knowledge on that but but one of the things I know and we've talked with you know cyber hat or true shield of some of the cyber security folks is you not only do they look at certain threats and things of that nature but also behavior analytics right and what may seem to be fraud and things of that nature so and those come into play a lot of times why you need more of the sock as a service where that's a huge help as they're proactively in reading and monitoring logs because where that fraud could be external or internal you know the Sims out there or seam and all the data collection tools you know can collect all that data but you've got to have people that can interpret that data so that's where it becomes you know big piece with you know whether it's me Sergey CenturyLink cyber had the folks that do the management detection and remediation is not just the tools but actually the people to interpret and see that in that behavioral analytics and be able to respond to that and digging into that yes thank you Dave you save the day a little bit there that without what but you know the other things that really come to mind that we need to think about is AI as part of what Dave just talked about is becoming more and more prevalent as part of what these stock as a service and sim and security providers are using because previously you have behavioral experts is Dave's alluding to that helped identify trends they create algorithms around what it could possibly be a fraud transaction well now you have all this historical data that's being crunched by AI and that's being used as opposed to the human interface component so if you're not leveraging AI or some sort of stock of the service as a customer you likely are investing heavily in people to identify and to try and protect specifically against fraud no other things that come up a lot around fraud or just in general securing the periphery of the enterprise and what I mean by that are mobile contract workers people that are not working in a dedicated office with protected firewalling leveraging single sign-on and authentication technologies across the enterprise right neo cloud we talked about that cloud bundle you know everything that they talk about has built-in encryption single sign-on multi authentication so all of those different technologies come into play where we start talking about fraud that's a great question I'm still glad somebody brought it up thank you thank you if we bring up blockchain or crypto with a customer should we present it as a threat or as an added benefit for the bank from a security standpoint so it's interesting banks aren't really thinking about crypto or blockchain from a security standpoint yet they're really just trying to figure out how big of a threat where's this industry headed what's happening right what I found in some of the the diligence that we were doing in the creation of this presentation is a lot of banks kind of they think blockchain is inevitably going to become part of what they do day-to-day where they're storing their records you know basically most folks are in agreement that it's very likely that blockchain will become the record or banking in the future not yet it's going to be an incredibly painful overhaul process to get there and that goes back to the transplant versus bypass discussion because of the looming crypto and blockchain technology a lot of banks instead of doing a full press overhaul because what they're thinking is if I do a full press overhaul now in three to five years I'm probably gonna have to do another one to account for crypto or blockchain so instead of doing the full transplant now let me focus on bypass opportunities like customer insight being data customer experience cloud for security and performance let me focus on those types of things as low-hanging fruit because crypto and blockchain are kind of out there impending it's a great question I think instead don't be afraid of by any means but ask the customer obviously crypto and blockchain is probably disrupted or maneuvered what was your five-year plan you know last year or the past year or two how has it changed it what are you now focusing on immediately and long term because of the introduction of blockchain I think it would be a great discussion and frankly I think the the customer would be impressed by your acumen okay well some great questions coming in at the end thank you thank you so much folks I missed a couple others we'll make sure we got them all okay thank you all for participating next month we've got hospitality so thank you all again for your time today don't be a stranger we look forward to hearing about your success be sure to tune in next month Wednesday July 11th at 2:00 p.m. Eastern Wednesday July 11th at 2:00 p.m. Eastern where we will cover hospitality industry and frankly this has been one of the most highly anticipated webinars yet based on the feedback and the requests we've gotten from our partners and our suppliers a lot of focus around this industry we're also a lot of folks to see a little bit of a wall in business with the summer vacations etc not in the hospitality industry it's all hands on deck they're thinking about technology now's the time so hopefully hospitality and our focus can inject a little bit of additional revenue for you and some of the traditionally down summer months either way we hope you're having a great summer just begun thank you so much from the entire scene SG team and happy selling