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Nov 19, 2019

Summary: In this podcast we will share an interactive panel session we recorded live from Intersect 2019, our marquee partners shared how their solutions and strategies align with financial industry trends and Diebold Nixdorf’s roadmap, such as; more integrated, with devices that enable better service delivery; more available, with optimized service capabilities that enhance the customer experience; and more efficient, with tools that enable you to achieve your customer-experience objectives.

Vanessa Foden, Strategic Planner Retail Banking
Hospitality & Education, Intel
Ken PedersenBusiness Development Director, KICTeam
Bill StutzmanDirector of Strategic Initiatives, Ventus
Steve Gilde, Director of Global Product Marketing, Paragon Application Systems
Shai Stern, Co-Chairman & CEO, CheckAlt

Scott Anderson, Brand Evangelism, Diebold Nixdorf

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Speaker 1:                           00:00                     In this Commerce Now podcast, we will share an interactive panel session we recorded live from Intersect 2019. Our marquee partners shared how their solutions and strategies align with financial industry trends and Diebold Nixdorf's roadmap. Such as: more integrated, with devices that enable better service delivery. More available, with optimized service capabilities that enhance the customer experience and more efficient, with tools that enable you to achieve your customer experience objectives.

Devon:                                 00:31                     Next up we have our diamond partner panel, so I'd like to welcome to the stage our Diebold Nixdorf evangelist, Scott Anderson. We're going to have our partner friends, Shai Stern from CheckAlt, Vanessa Foden from Intel, from KICTeam we have Ken Peterson and we have Steve Gilde from Paragon and Bill Stutzman from Ventis. Welcome to the stage everybody, thank you for joining us.

Devon                                   01:09                     Awesome.

Scott Anderson:               01:14                     Thanks everybody. We are between you and alcohol. I do apologize. And we all convinced in the back and we said "You know what? The modern tool that we would like right now is alcohol to help us with this next task", but we'll get you there soon. It's my distinct pleasure to welcome this panel. A group of panelists up on stage today to share with you a little bit about their organizations and talk about how Built To Connect and Built For More actually means more than just an ATM and solutions. Really, to run a banking environment, it takes a community, just like raising a child takes a community. And we have a community of people up here who really have a passion for our business and who help really transform the banking industry along with Diebold Nixdorf's partners and we're really proud to have them up here. So, I want a quick round of applause to welcome these folks up here. Thank you very much.

Scott Anderson:               02:06                     And while Devin gave us a quick introduction of these individuals by name, I'd love them to take a couple of moments and introduce themselves more personally and share with you who they are and what they do. Let's start with you, Shai.

Shai Stern:                          02:15                     My name is Shai Stern and I'm the CEO of CheckAlt. I do not have a phone on my desk, I run my company on WhatsApp voice notes and I do have my emails printed out.

Vanessa Foden:                02:28                     I'm Vanessa Foden. I'm with Intel corporation as you noted, and I'm the director of strategic planning for our retail banking, hospitality and education group. I don't print my emails, but I did print some outdated notes for the show.

Ken Pedersen:                  02:46                     Ken Pedersen from KICTeam and for those who don't know what KICTeam does, we manufacture and design cleaning products for currency, print and payment technology, so ATMs, POS terminals, check scanners, TCRs and... Yeah, thank you.

Steve Gilde:                       03:02                     Steve Gilde from Paragon Application Systems. We're all about testing the payment systems. I will say that I could not have predicted that Ben ran 30 minutes over. Who knew that that future was going to happen, but happy to be here.

Devon                                   03:15                     Excellent.

Bill Stutzman:                     03:16                     Hi, I'm Bill Stutzman from Ventis. Ventis is a networking company. We work with making sure that you're ATMs are up and running, so that your customers are happy.

Scott Anderson:               03:25                     Fantastic. Thank you very much for introducing yourselves. I think what we wanted to do today is really focused on all of the cerebral thinking we've been hearing about today. [what rounds 00:00:03:34] the Built to Connect and Built For More, but hone in a little bit on what does that mean and how do the individuals at this panel contribute to that and really make a difference in our overall industry as we go forward. This is a great opportunity for us to have some open conversation. We actually agreed that we don't have to always sit in our chairs, we can get up and kick each other if we don't agree, whatever the case may be. But what I'd like to do is, maybe tee up some questions to the individuals to get things started and of course we'd love to open it up to the audience and get some feedback from you and some direct questions as well. So, let's start with personalization. More personalized. Vanessa, let's start with yourself. What's Intel's point of view on personalization in this industry?

Vanessa Foden:                04:14                     Yeah, so let me start with, as noted, we're a retail banking, hospitality and education. So, we have the pleasure to see a connection point with use cases across these different sectors. And for retail for example, what we have seen is... And heard and everyone in this room has probably heard is, "Oh, stores are closing into retail as we know it, et cetera, et cetera". And really, what we've found is, that there's opportunity there and yes, there are definitely retailers that are not growing. But then there's the some that are going to different size format and then there's a few that haven't innovated and we know who those are. And yes, some of them are no longer with us. So, when we think about this with branches, we know that there are some shrink happening at the branch that could be in the actual space of the branch or closures.

Vanessa Foden:                05:13                     So, [Octavio 00:05:14] was talking this morning about 9.000 closures branches in the last five years. Now again, there's opportunity there, because there's different size formats and different technologies and ways to bring in our customers, because it's not just about one solution. And so, what we're really seeing, is opportunity. There is over a billion branches worldwide. So there is still that personal connection with the technology. So, the physical with the digital and that's the way we really need to think about it. And in the sessions today, which I really enjoyed them all, someone asked for a vote, I thought the two I went to are both great and very different. So I couldn't say one was better the other. But, it was very consistent in the message of opportunity and what's available to us in these use cases. So, it's really about understanding from the customer's standpoint, when they walk into your branch, how do they feel?

Vanessa Foden:                06:14                     Are they employees trained? Do they know how to engage with these customers? And on the flip side, digital. How do we know what our customers want? So, we're always thinking about what are our customers want? When do they want it, and what location should it be? And on and on and on. Right? So we apply that logic within our team to how is that relevant? Whether it is an Interactive Teller Machine, an Automated Teller Machine, a Virtual Teller Machine, POS system, et cetera. So that's how we really look at those use cases and try to apply it to make it personal, whether physical or digital.

Scott Anderson:               06:53                     Interesting. Steve, I'm going to challenge you a little bit. So, Paragon Systems and Testing, how would that bridge into the personalized world?

Steve Gilde:                       07:01                     Sure. So, we heard this morning a lot about the customizable capabilities that the new DN Series will give to... That Diebold customers will have a chance to give to their consumers, right? You can do all sorts of interesting things, but the last thing you want to do is come up with an exciting new program, a new card, a new something for your high-net-worth customers and then have it fail when it gets in their hands. And being that we engage a lot on the testing side of the equation with customers, we hear a lot "Oh well, we couldn't test that with our host, because of this reason". Or "We forgot to test that because we ran out of time" and they wind up with a negative customer experience. And today, in the YouTube world, it becomes a very public brand damaging issue right away. So, with all the stuff that we talk about, all the changes and all the difficulty in projecting what consumers are going to want... We know they're going to want something, right? But it's all got to be tested and... Because you want that perfect customer experience every time.

Scott Anderson:               08:04                     Excellent, thanks. Any other comments from the panel?

Scott Anderson:               08:08                     If not, I'll tee up the next question. Shai, you got to have something to say.

Shai Stern:                          08:11                     Yeah, I'll go for it. We look at personalized services a little bit different, in the fact that we are the ones who service you, the financial institution, on the ATM side. And we know that your job is to go ahead and to get the best experience to the consumer, to your customer, to your member if you're a credit union. So us, as a vendor to the financial institution, we want to make sure that you're able to provide the best services, the most advanced services, and the most personalized way. So, I have my cell phone on the website of as I try to give personalized attention and we give direct dials and direct emails and we make sure that the folks at the financial institutions are experiencing the best service possible, in order to recognize that checks, even though we all would have envisioned years ago that checks would have gone away, they are still here and rather healthy. So, our job is to provide the best services to you, the financial institution.

Scott Anderson:               09:04                     Excellent. Let's keep it with you and think about... More integrated. So, what tools in your organization are you bringing to the marketplace to help with that integration piece?

Shai Stern:                          09:14                     You're staying with me?

Scott Anderson:               09:15                     I'm staying with you.

Shai Stern:                          09:16                     Oh wow. So, what we look to do is, we are a payment agnostic company. So, I always say that my mother is never going to stop writing a check and my daughter is never going to start writing a check. And amazingly, my little, almost two year old grandson won't even know what a check is. But the fascinating thing is that at CheckAlt, our job is to be what I call "payment agnostic" and "demographic agnostic". And when I think about integration and when I think about how the financial institutions are able to take the legacy needs in their payments and their futuristic needs and the discussion around the electronic payments and realtime payments, we are there to create APIs to tie it all together to give a great experience.

Scott Anderson:               10:00                     Excellent. Ken, I'm going to kick it over to you, no pun intended with KICTeam, but what interesting insight capabilities are you bringing to the market?

Ken Pedersen:                  10:07                     Yeah. For integrated, we are... The way we design our products and create them is very data-driven, right? So we want to understand where does dirt build up, how frequently does it build up and when does it need to be cleaned, because we want the right solution at the right time. So, today you heard from Chase talking about integration and data and using that data to become predictive. And so, we try to design our tools around that so that we can provide a better product in that... Ultimately, the devices that we support provide an ultimate experience. It's an optimal experience and that the end user enjoys using the device that we support.

Scott Anderson:               10:44                     Excellent. Vanessa, Intel Inside. I mean, what are we doing here from an integration perspective?

Vanessa Foden:                10:49                     Oh yes. But if you don't mind, I'm going to do a little bit of back to the future. Yes. So, in my previous role, I was an integration manager at a banking institution, and they had actually outgrown their software and hardware solution. And one of the things, and I'm sure it's like this today with a majority, if not everyone in the room, when you went to the internal webpage, the number one thing you saw every single morning is: "How many customers did I gain from yesterday?". It was so important to continually watch the customer base. And so what happened is, as they're worried about the customer base, we're in the background saying "Okay, we've outgrown our customers. And if we don't do something, we're going to let them down". At the same time again, what we've heard time and time again, is security is so important.

Vanessa Foden:                11:46                     Now, security has evolved into way more of a complex monster than it was back then. But it's really important at the end of the day why we're thinking about integration. We're thinking about "How do we protect the customers?". And that can be multiple ways. That is through security. That is through having remote management capability, so that if your system's down, meaning, down down, you have an opportunity to bring it back up or if you just need to do a patch or et cetera. So, we really think about it from all aspects and understand, at the end of the day, it's about growing the customer base and if you lose a customer you can... Well, you might be able to get them back. But it's really hard. Statistically, it's really hard. So we'll focus more on "How do we help with the overall security?". We help with the remote connectivity and we, as you know, we also help with our Intel Inside. We believe that our products are secure and do help provide the best solutions available in the market. So that's what we do.

Scott Anderson:               12:52                     Excellent. One of the other mores that we've heard about, and I think this is top of mind to a lot of the folks in the audience, is available. And my fellow bookend at the end here, let's... Bill, kick it over to you. Availability leads to enhanced customer experience. So how does this impact, how was this impacted by the network?

Bill Stutzman:                     13:09                     Yeah. Availability is one of the highest priorities that we look at from a networking perspective, because all the stuff that everyone else is talking about, unless it can get from one point to the other, it's something that just isn't going to make your customer experience positive. And so, uptime is an extremely important element for us. And so, we look at it from different perspectives. First, where is it that you're putting your ATM? Your locations, are they at the branch? Are they at a sports stadium where 60.000 people show up and use them? Are they in a mall, or are they in a more of a less traffic area? Even to the point where we're out in remote Louisiana, where there's nothing else out there and we've been able to find a type of connectivity. And so, we look at what's the most important type of connectivity to make those networks work. And so whether it's cellular, whether it's a broadband circuit, whether it's an MPLS circuit, we build that to work it through.

Bill Stutzman:                     14:02                     And that can also impact based on the type of machine that you have. And so, we look at how do you integrate those pieces together. If you're putting in an ITM, the amount of data that you're required for that ITM can impact the type of infrastructure we would put in, as to whether you need something that allows you to have a cost effective... The amount of information that goes back and forth to an ITM or that might be built into a full MPLS circuit versus a cellular circuit.

Bill Stutzman:                     14:28                     The other really important thing that we've seen recently is business continuity from availability. And so, we've been working with a lot of our bank and credit union partners on taking their branch ATMs, isolate them from the branch network so that if there are issues on the branch or on the ATM, either one or the other is up. And so, we've launched this program called Branch ATM Network Isolation and it's worked very well for us because one, it provides that business continuity for the branches so that the ATM stay up, it removes some of the PCI auditing that you're required as part of the branch experience because the ATM needs it, but the branch does not. And then it allows that customer experience, which is... Always, the biggest measure is how is that customer feeling when they come into the branch. So there's always something there for them, whether it's one or the other. And so, to us it's really always about availability.

Scott Anderson:               15:17                     Fantastic. Ken, Steve, I think this is a perfect topic for your lines of business as well. Ken, why don't you kick it off here and give us some thoughts?

Ken Pedersen:                  15:23                     Yeah, absolutely. So availabilities is key for our products, right? So our products enhance the performance, they enhance the customer experience, they prolong the product and they increase the availability, which I think for all of you out here that's very key and that's very important. So when we look at the products that we're creating, we want to make sure that they are enhanced, so that the experience's at a top level. We're trying to enrich the experience and we're building it in to the data. So we talked about data and we talked about predictive maintenance and prescriptive maintenance and Chase talked a little bit about that earlier. And so, when you can get into that model where you can clean this device or maintain this device before something goes wrong, you are increasing the experience ultimately.

Scott Anderson:               16:12                     Excellent.

Steve Gilde:                       16:13                     Yeah and it's the same for us. As Bill said, it's all about the end-to-end experience and all of those pieces have to work together, they all got to be tested together. You need to make sure that one transaction works and you need to make sure that you test transactions at scale and find out if there are any bottlenecks or any issues. And again, you just got to make sure that the customer has a good experience and make sure, end-to-end, it all gets tested, it all works.

Scott Anderson:               16:39                     Excellent. If we think about efficiency, obviously time is money to every one of us and all of our consumers as well as, as we look at the customer journeys that they're going on. Bill, from a Ventis perspective and being a leader in the ATM network, what are you guys doing in this regard?

Bill Stutzman:                     16:54                     Yes, so we look at providing the full experience with the managed network as a service. And so, our ultimate goal is to help our bank and credit union customers and partners develop a process that mostly takes it completely off their plate. And so, working with CheckAlt, we provide a direct relationship with them with Multi Endpoint Routing. We can go to your check imaging, we can do your security, we can do your alarm panels, we can do your DVR. And so, the network that we've built within the Ventis private core is a fully redundant, multiple circuits, multiple data centers, and that allows that integration. And so, our whole objective is to make sure that we integrate whatever you're doing within that ATM, so that we can provide you that service, so that it takes your IT teams off. Because every banking show, everything we go to, is all about the next thing.

Bill Stutzman:                     17:44                     And so, by us taking those basic networking issues off your plate, it allows you to then look at those future projects and kind of see where you're going in the long run. And so, by doing the engineering, by doing the 24/7 customer support, by doing the ability to troubleshoot remotely, because we've built the whole IP addressing schedule into our tech center, we're not just looking for routing, we're looking for how the whole thing works. We concentrate on that full customer experience with our managed network as a service.

Scott Anderson:               18:13                     Excellent. So you mentioned CheckAlt. So Shai, why don't you comment a little bit on that part of the equation from a check perspective?

Shai Stern:                          18:19                     I think that when we look at the way checks are coming in, we're constantly seeing about who are processing the checks, where they're coming from and how we need to make sure that the ATMs are always up and running. So we monitor the heartbeats. And I think that that is something that's very important about heartbeat monitoring. Having a dedicated team, seeing if the ATMs are, quite frankly, processing quickly enough. I think that working with Bill and his team is of utmost importance. I think the other thing that's super important is understanding security around these ATMs and that why is somebody motivated to put a check in an ATM versus a mobile phone? And that's so interesting, that you haven't seen a big falling off the cliff about the processing around the ATMs and ATMs are alive and kicking.

Shai Stern:                          19:08                     And it's really fascinating and I think that when we go ahead and we think around security, we have what we call extended deposit approval. We give certain fraud protection capabilities, we go ahead and we have duplicate detection capabilities. So, I think that when you look at the way checks are being processed, it's very important to think about security. The time of day that checks are being processed to make sure they're processed same day as many of the folks who are putting their checks into the ATMs, they are living a, let's call it... They need that money right away. So, to making sure that those deposits get in right away, you don't have to wait the next day, but rather their money is available to them immediately, are things that we're constantly measuring, constantly monitoring to make sure that we can give, again, the best experience to the customer.

Scott Anderson:               19:55                     Excellent. Let's shift it to more future-ready and we just heard from [Ben Hammers Leon 00:00:20:00] on the future point of view. Steve, if we think about being future-ready and some of the testing capabilities that are out there, what's Paragon's point of view on this?

Steve Gilde:                       20:09                     Yeah. I know Ben mentioned the term "pace of change", but that's really what we're all dealing with today, is how fast consumer behavior's changing, how fast our technology is changing, and so the thing that we would say is that you need to be prepared to deal with the change, because whatever the change is, something's going to change on you, legal and regulatory changes, et cetera. So, having an environment where you can easily integrate a change within your... Whatever it is, within your testing environment and make it happen quickly that you're not... Your projects aren't delayed because you can't digest a change or that you're not prepared to deal with it.

Steve Gilde:                       20:49                     We would say to a new prospect that the more you invest in your testing solution, the more valuable a resource it becomes. As you automate your aggression tasks, as you integrate with your other application life cycle management systems, as you make those investments, it becomes easier to say "I can deal with change, I can make my ability to digest change, a competitive advantage for my company by being able to just take whatever comes up"... Well, I don't know what it's going to be. I know something's common.

Scott Anderson:               21:23                     Right. Interesting. Given we just had a futuristic conversation a couple of minutes ago, any other panelists want to comment on sort of future-ready from your point of view?

Bill Stutzman:                     21:32                     Well, I think the one thing that we can look at is that everyone's working on Windows 10. And so when you talk about change in the future, we know that Windows 10 isn't the last update. And so, knowing how that's going to impact... And from us, from a network perspective, Windows is just such a different animal than what it was between the amount of updates that have to go through for security, to even just installing it and things of that nature. And so, working with our partners and customers to make sure that whatever impact that change has, that it's future-ready and going forward. But we know three years from now there's going to be whatever they call it, Windows 20, Windows 15 or something of that nature. And those systems are going to continue to change and change.

Bill Stutzman:                     22:10                     And so, I'm always fascinated when I've talked with the banks and credit unions on where they're at with their Windows 10 integration. And so, finding people that are completely done to folks that are like... We're just going to get finished in December. And so, planning for that change has been a... And we've known about it for what, two years, three years that it's coming and that the deadline is December. And so, watching that type of change happen, I think it's something that we constantly see within the industry.

Scott Anderson:               22:36                     Interesting.

Vanessa Foden:                22:37                     I think some of the things that are opportunity for change, and I saw some of that in your demonstrations outside. So, if anyone didn't stop by and check out the demos, they're really exciting. It's really exciting to see what you all have done. We really have been focusing around opportunities in artificial intelligence and computer vision. And I think that's a game changer for us. For us, everybody, whether you're in banking or other industries, we're going to continue to see that relevance around artificial intelligence, computer vision, and we need to be able to engage in that. Where do we need that compute power? Is it at the edge or is it in the cloud? And so, those are some things we need to continue as our businesses are evolving and we're evolving with you, what is it that's the priority? And how do you decide, depend on... And again, this goes back to security. Not everything needs to go to the cloud.

Vanessa Foden:                23:36                     So, we need to think about what really needs to be edge compute when we're processing. And we need to think back on security. Various ways of security, including understanding. Is the person coming up to the Teller Machine? Is it who they say they are? And how do you know that? Or if they're coming up, whether automated or coming up physically into your store, is that the person that you should be engaging with? And I think artificial intelligence and computer vision will help with that.

Scott Anderson:               24:04                     Interesting. And that's a great Segway to our... I'm sorry Steve, did you want to [crosstalk 00:24:08]

Steve Gilde:                       24:08                     Yeah, I was going to say one more thing is that... The thing that we see a lot with branch transformation... If you'd asked me two years ago sort of where ATMs were heading, we were kind of flat-lined, we weren't seeing growth and things like that. And then the whole change in branch is getting a little smaller. Branch is changing and the products that you guys are putting out now are now allowing branches to kind of reconfigure what they're doing. And so we talked to... We're always interested to see how they're integrating those devices into the universal. We're seeing a lot of universal bankers with cash recyclers with ATMs and where that's becoming more of a part of that integration into the branch versus just a sort of out-the-window or out-the-best of your remote location. And so we've seen a very positive uptick in that element of the automation being integrated into the different branch setups.

Scott Anderson:               24:54                     Excellent. Shai.

Shai Stern:                          24:55                     I just want to add on one thing. One of the things that we think about is that we speak about an iPhone... All of us who have iPhones, which I assume is most of us here, you see some times that if you plug in your iPhone at night, by the time you wake up in the morning, the update has been completed. One of the things that we have established at CheckAlt is that we have a universal installer that, where were there to be an update in our deposit automation technology or whether it be to roll out any updates, it's a press of a button and we can go out there and touch all the machines in one swoop.

Shai Stern:                          25:23                     We do that in a very thoughtful way, in a very futuristic way, but also recognizing that the environment that we live in, even though we all would love to be in the cloud tomorrow and have great computing tomorrow and all those great advantages but we, unfortunately, or fortunately, we do live in a rather regulated environment. And when the regulators come in and they challenge a cloud, a futuristic plan, or they challenge the way that you're thinking about security, it is incumbent upon each and every one of us not to get in the cross hairs of these regulators. So it's a rather delicate balance between planning and executing for the future, but yet maintaining the happiness of those regulators to make sure that we can continue doing what we're doing.

Vanessa Foden:                26:06                     Happy regulators and happy customers.

Scott Anderson:               26:10                     So we've tiptoed around security in a number of these comments here. And that's the last more we want to talk about, sort of the elephant in the room, and for most of us is this secure environment, this trust, this ensuring we're protecting our brand. So, let's open it up to the panel. I'd love your points of view on what we're doing in the security space in each of your organizations. Maybe... Well, let's start with you, Vanessa.

Vanessa Foden:                26:31                     Oh, I thought you were going right past me. Yeah. So, around security. So, really good question. Globally, right? So it really depends on what's happening globally. We see lot of... I'm going to go sideways just a little bit, I promise I'll come back. We see a lot of activity in China around what they're able to accomplish because they have different regulations to your point, and it is amazing what we've seen there. The way that they've been able to use the automated kiosk with any engagement, the things that can be done on a mobile phone, the biometrics and scanning to identify who they are and a lot of what they're doing never requires another person. And so it's edgy, but it also reminds us, puts us back into reality here in the United States and in EMEA. And if we didn't need that, GDPR has made sure... And PCI compliance, our other good friend, has made sure that that keeps us in our place, if you will.

Vanessa Foden:                27:36                     So when we think about that security, we try to embrace what we can push at the edge, but at the same time making sure that we are able to help our customers innovate because it is happening. And when we think about... A lot of people didn't want to do the PCI compliance on these different devices and now Square's killing it in the market, right? And we were all afraid of that because we were following the rules, this is the rules and they weren't PCI compliant and it's not going to work. Not true. They're doing extremely well in the market. So, it's just that fine balance on innovating while still making sure we follow within guidelines. And that's how we work with our partners. Because at the end of the day, again, I know I've said it a million times, I'll say it one more time. We understand it's all about the customers and keeping the customers and growing that customer base, and with that they need to be secure but also... We have different generations and security and what people are comfortable with is different depending on the generation that you're working with. So it needs to be that balance.

Scott Anderson:               28:37                     Great. Ken, anything to add on that?

Ken Pedersen:                  28:39                     Yeah, so you wouldn't think of cleaning and security going hand in hand, but when we look at our products, we think about exposure and risk and can we make products that are easy to use that limit exposure and risk? And can they be done quicker and faster? So, we do take a lot of thought designing our products. Can we maximize security and minimize risk?

Scott Anderson:               29:02                     Excellent. Steve.

Steve Gilde:                       29:04                     Yeah, a couple of things. We hear often from customers who are behind on Windows patches and things like that at their devices because they're busy or they just can't get to it type thing, which is difficult because there's no sympathy for any more in the marketplace, right? If you see some exposure because you didn't have your Windows patches updated, nobody is going to come in on your side on that one. And so, if you can automate your capabilities to test and get those things out there, it makes it easier to stay on target. Another aspect of security is internal security, which is unfortunately a real issue that we all have to deal with today. So, having a centralized infrastructure to manage users and roles and permissions and understand who's tested what and who hasn't tested what, who changed what on the system.

Steve Gilde:                       30:00                     Unfortunately we see that at times where folks say "I don't know how that data element got changed. I don't know who changed that. Somebody did, but I don't know who". So, having the capabilities to audit that and stay on top of it and management is just something that you have to deal with. Going back to when regulators come in and look at your books, you want to be able to say "I know exactly who did what, why they did it, when they did it", those types of things. And finally, for a lot of our customers, they have their downstreams, they test for their downstreams, they test for their own customers, and being able to have reports that can be managed and maintained longterm to prove that you did test what you said you were going to test for your customers, and survive an audit with that aspect of your business as well. It's security, it's risk, but it's all part of making sure that you protect your business.

Scott Anderson:               30:50                     Fantastic. Bill?

Bill Stutzman:                     30:51                     Yeah. So, transferring that information from one place to the other is a very secure area. And so, we have always looked at PCI compliance as our number one. We always try and be out in front that if it's changing two or three years then we do at a year or two early and try and keep that going. Same with internal security, always trying to make sure that however all the data centers and everything is put together is always fully secure. And then what we're introducing here at the show this week is that we've partnered with a company called Eclipse and there's some folks here from there as far as the technology agent, to provide a full end-to-end key encryption system from the ATM to the cloud. And so, to stop jackpotting or mend the middle pieces, it's eliminated that piece that was never encrypted from the machine before.

Bill Stutzman:                     31:41                     And so, we're looking at introducing how you can integrate that into your Diebold product and we're talking working with Diebold and how to run that through their managed services program. And so, we're very excited that if you want to stop by and talk to us about that, the ability to fully encrypt from the machine to the the data center and then move that on to the processors to the Cheque Imaging and everything else we think will be sort of groundbreaking. And so we're really happy to kind of introduce that at Intersect this week.

Scott Anderson:               32:08                     Fantastic, thanks for sharing that. Shai.

Shai Stern:                          32:10                     Yeah. Vanessa mentioned Square. So, one of the things that I wanted to mention is that all financial institutions, when you read the Wall Street Journal, then the news, you constantly see our Fintechs taking away business from banks, is that the fear of the banks and the Fintechs, and how they're going to battle one another. And one of the things that we try to do as... Some people call us an old company because we do process checks, but as well we are a Fintech company and we actually look to invest into new startups in the Fintech space and be able to offer them to our clients. So [two 00:32:42] for example, we're an investor and bank [inaudible 00:32:44] . It's a mobile banking company and also another one called [inaudible 00:32:47] that is a cutting edge technology and cybersecurity and helping financial institutions protect their card data in the dark web.

Shai Stern:                          32:55                     So these are things that we're constantly thinking about. And I think a financial institution, it's incumbent upon all financial institutions. And when you have the previous speaker speak about diversity and thought processes, it's about "Yes, we have regulators and yes, we run a payment businesses and yes, they need to be secure". But how can we go ahead and take what we can learn and what is available today from the newest technology and be able to go ahead and have them live together? And I think that's something that it really... Everyone should be thinking about.

Scott Anderson:               33:22                     Fantastic. I'd like to express my warm thanks to the individuals up here on the panel and the contributions they've made for the success of this gathering and this conference. So if you wouldn't mind, please give them a warm thank you. I appreciate your time.

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